Net Asset Value(s)

ABERFORTH GEARED CAPITAL & INCOME TRUST plc ("AGCiT")                        
                                                                             
The Net Asset Values ("NAVs") for the above company as at the close of       
business on 9 June 2011 were:-                                               
                                                                             
Capital Share (per Articles) = 598.07p                                       
                                                                             
Capital Share (nil swap valuation) = 604.67p                                 
                                                                             
Income Share (including All Revenue) = 111.10p                               
                                                                             
Income Share (excluding All Revenue) = 100.00p                               
                                                                             
The market value of investments was £119.2m less bank debt and net current   
assets/liabilities (excluding Income Shares) of £29.2m to leave Shareholders'
Funds (including Income Shares) of £90.0m.                                   
                                                                             
Contact - Gary Tait (Tel: [phone])                                     
                                                                             
Aberforth Partners LLP, Secretaries - 10 June 2011                           
                                                                             
ANNOUNCEMENT ENDS