Directorate Change

Capital Gearing Trust plc - appointment of director

Capital Gearing Trust plc ("the Company") is pleased to announce the
appointment of George Andrew Prescott to the Board as a non-executive director
and member of the Audit Committee with effect from 5 February 2010.

A qualified accountant, until his retirement last year, George was Deputy Group
Chief Executive of the Ecclesiastical Insurance Group with direct
responsibility for investments and finance. He has also served on the Boards of
a number of quoted investment trusts as well as finance committees of leading
charitable organisations. He is presently a member of the Board of JP Morgan
Cazenove Pension Trustee Company, the Mapfre Re-Insurance Company and Master
and member of the Court, Finance & Investment Committee of The Worshipful
Company of Coopers.

It is the intention that George will ultimately take-over the responsibilities
currently undertaken by Mr Campbell Morton, who after serving 12 years as
Director, has indicated that he wishes to retire later this year.

Commenting on the appointment, the Chairman, Mr Pattison, said:

"I am delighted to welcome George on his appointment to the Board of Capital
Gearing Trust plc. George has over 40 years experience in the financial
services industry which spans accountancy, stockbroking, investment management
and insurance and I am sure that he will prove to be a valuable addition to the
Board."

In accordance with Listing Rule 9.6.13 (1), the Company discloses the following
information in respect of Mr Prescott:

Directorships held in publicly quoted companies in the five years prior to
appointment:

Current directorships: None

Former directorships:

Ecclesiastical Insurance Office plc - until 2 June 2009.

Ecclesiastical Insurance Group plc - until 2 June 2009.

Martin Currie Income & Growth Trust plc - until 30 April 2007.

There is no information required to be disclosed in accordance with Listing
Rules 9.6.13 (2) to (6).

Alice Parker

Tel: [phone]

TMF Corporate Secretarial Services Limited

5 February 2010