Purchase of Own Securities

Capital Gearing Trust PLC
21 September 2000



Repurchase of ordinary shares for cancellation

Capital Gearing Trust p.l.c. announces that on 21st September,
2000 it purchased for cancellation 8,000 ordinary shares in
the market at a price of 955p per ordinary share.  There
remains 2,265,906 ordinary shares in issue.

Enquiries:

Peter Spiller         0207 588 2828
Cazenove Fund Management