Investment Management Fee Reduction

CAPITAL GEARING TRUST P.L.C.
20 March 2014


INVESTMENT MANAGEMENT FEE REDUCTION

Since 6 April 2003, the investment management fee for Capital Gearing Trust
P.l.c. has been 0.85% p.a. of gross assets. In recognition of the significant
organic growth of gross assets, the investment management fee will be reduced
to 0.6% from 6 April 2014.


Capital Gearing Trust P.l.c. operates as an investment company as defined under
s833 Companies Act 2006. Its investment objective is to achieve capital growth
in absolute terms principally through investment in quoted closed-ended and
other collective investment vehicles, which invest in equities or property, and
which have a willingness to hold cash, bonds, index-linked securities and
commodities when appropriate.


For further information, please contact:

Alastair Laing
Director
020 7131 4423
[e-mail]

Tony Pattison
Chairman
Tel: [phone]
Email: [e-mail]