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 23 June 2011 were:-                                                         
                                                                               
Capital Share (per Articles) = 557.87p                                         
                                                                               
Capital Share (nil swap valuation) = 564.48p                                   
                                                                               
Income Share (including All Revenue) = 112.27p                                 
                                                                               
Income Share (excluding All Revenue) = 100.00p                                 
                                                                               
The market value of investments was £118.4m less bank debt and net current     
assets/liabilities (excluding Income Shares) of £32.3m to leave Shareholders'  
Funds (including Income Shares) of £86.1m.                                     
                                                                               
Contact - Gary Tait (Tel: [phone])                                       
                                                                               
Aberforth Partners LLP, Secretaries - 24 June 2011                             
                                                                               
ANNOUNCEMENT ENDS