Result of AGM

Results of the Annual General Meeting 2014

Capital Gearing Trust P.l.c. (the "Company") is pleased to announce
the results of its Annual General Meeting (the "AGM")held on Friday, 11 July
2014 at 11.00am. The ordinary and special resolutions set out in the AGMnotice
were proposed and passed on a show of hands.

The proxy voting figures are shown below.

No. Resolution

    ORDINARY BUSINESS

1   To receive the Report and Accounts for the year ended 5 April 2014

    Votes for/discretionary             413,599
    Votes against                       0
    Total votes cast                    413,599
    Votes withheld                      0
    Poll                   No

2   To approve the Directors' Remuneration Report for the year ended 5 April 2014

    Votes for/discretionary             411,220
    Votes against                       1,579
    Total votes cast                    412,799
    Votes withheld                      800
    Poll                   No

3   To approve the Company's Remuneration Policy

    Votes for/discretionary             411,220
    Votes against                       1,579
    Total votes cast                    412,799
    Votes withheld                      800
    Poll                   No

4   To declare a final dividend of 16p per share for the year ended 5 April 2014

    Votes for/discretionary             412,146
    Votes against                       127
    Total votes cast                    412,273
    Votes withheld                      1,326
    Poll                   No

5   To re-elect Mr T R Pattison as a director of the Company

    Votes for/discretionary             400,921
    Votes against                       12,678
    Total votes cast                    413,599
    Votes withheld                      0
    Poll                   No

6   To re-elect Mr G Meek as a director of the Company

    Votes for/discretionary             409,328
    Votes against                       1,018
    Total votes cast                    410,346
    Votes withheld                      3,253
    Poll                   No
 

7   To elect Mr A Laing as a director of the Company

    Votes for/discretionary             409,328
    Votes against                       2,386
    Total votes cast                    411,714
    Votes withheld                      1,885
    Poll                   No

8   To re-appoint PricewaterhouseCoopers LLP as auditors of the Company

    Votes for/discretionary             411,527
    Votes against                       800
    Total votes cast                    412,327
    Votes withheld                      1,272
    Poll                   No

9   To authorise the directors to determine the auditors' remuneration

    Votes for/discretionary             412,273
    Votes against                       1,326
    Total votes cast                    413,599
    Votes withheld                      253
    Poll                   No

    SPECIAL BUSINESS
    ORDINARY RESOLUTION
10  To authorise the directors to allot shares

    Votes for/discretionary             411,146
    Votes against                       2,706
    Total votes cast                    413,852
    Votes withheld                      0
    Poll                   No

    SPECIAL RESOLUTIONS
11  To authorise the directors to allot shares on a non-pre-emptive basis

    Votes for/discretionary             411,273
    Votes against                       2,379
    Total votes cast                    413,652
    Votes withheld                      200
    Poll                   No

12  To authorise the Company to make market purchases of its own shares

    Votes for/discretionary             410,273
    Votes against                       2,000
    Total votes cast                    412,273
    Votes withheld                      1,326
    Poll                   No

13  To authorise the calling of general meetings, other than annual general
    meetings, on not less than 14 clear days' notice

    Votes for/discretionary             403,634
    Votes against                       9,965
    Total votes cast                    413,599
    Votes withheld                      0
    Poll                   No
 
Notes:

Any proxy votes which are at the discretion of the Chairman have
been included in the "for" total. A vote withheld is not a vote in law and is
not counted in the votes for or against a resolution.

At the date of the AGMthe total number of Ordinary shares of 25p
each in issue and the total number of voting rights was 2,926,906.

The proxy voting figures will shortly also be available on the
Company's website at www.capitalgearingtrust.com

In accordance with Listing Rule 9.6.2, the full text of the special
business resolutions10-13 passed hasbeen submitted to the National Storage
Mechanism and will shortly be available for inspection at:
http://www.morningstar.co.uk/uk/nsm. Resolutions 10-13 will additionally be
filed with Companies House.

Disclaimer: Neither the contents of the Company's website nor the
contents of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.

Enquires

Katherine Manson
TMF Nominees Ltd
Email: [e-mail]

11 July 2014