Results of Elections under Scheme

ABERFORTH GEARED CAPITAL & INCOME TRUST PLC

ELECTIONS UNDER SCHEME

Further to the proposals for the reconstruction and winding up of the Company
which were announced on 28 June 2011, the results of elections under the Scheme
were as follows:

  * elections for cash were made, or deemed to have been made, in respect of
    14,577,757 Income Shares and 5,341,145 Capital Shares; and
   
  * elections for new ordinary shares in Aberforth Geared Income Trust plc were
    made, or deemed to have been made in respect of 9,922,243 Income Shares and
    5,158,855 Capital Shares.
   
Reclassification of Shares

As a result of the elections referred to above (and subject to any scaling back
that may be required under the terms of the Scheme), 14,577,757 Income Shares
will be reclassified as Shares with A rights, 5,341,145 Capital Shares will be
reclassified as Shares with B rights, 9,922,243 Income Shares will be
reclassified as Shares with C rights and 5,158,855 Capital Shares will be
reclassified as Shares with D rights. It is anticipated any scaling back of the
elections would be announced on or around 4 August 2011.

Application will be made to the UK Listing Authority and the London Stock
Exchange for the listing in respect of the Shares to be amended to reflect the
reclassification of the Shares as Reclassified Shares. It is expected that such
amendment will become effective and dealings in the Reclassified Shares will
commence with effect from 8.00 a.m. on 8 August 2011.

Suspension of Reclassified Shares

It is expected that the listing of the Reclassified Shares will be suspended at
7.30 a.m. on 9 August 2011.

General

The Scheme remains conditional on, among other conditions, the passing of the
special resolution to place the Company into members' voluntary liquidation
which will be proposed at the general meeting of the Company convened for 9
August 2011. The Scheme will not become effective unless the resolution is
passed.

Enquiries:

David Ross                             0131 220 0733                         
                                                                             
John Evans                                                                   
                                                                             
Alan Waite                                                                   
                                                                             
Aberforth Partners LLP                                                       
                                                                             
Douglas Armstrong                      020 7628 4455                         
                                                                             
Dickson Minto W.S.                                                           

Capitalised terms shall bear the meanings given to them in the Company's
Circular dated 28 June 2011 unless the context otherwise requires.