Net Asset Values

CAPITAL GEARING TRUST P.L.C (the "Company") Net Asset Values The Company announces that as at the close of business on 16 November 2012, the unaudited net asset values per ordinary share, valued on a `bid price' basis, were: Capital only - 3,002.11p Including income - 3,018.64p Enquiries: Keith Hawkins, TMF Corporate Secretarial Services Limited Email: company.secretary@capitalgearingtrust.com Date: 20 November 2012
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