CAPITAL GEARING TRUST P.L.C. (the "Company")

Net Asset Values

The Company announces that, as at the close of business on 30 October 2014, the
unaudited net asset values per ordinary share, valued on a 'bid price' basis,
were:

Capital only: 3,137.67p
Including income: 3,145.94p

Enquiries:
Katherine Manson, TMF Corporate Secretarial Services Limited
Email: company.secretary@capitalgearingtrust.com

Date: 31 October 2014