Net Asset Value(s)

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

Net Asset Value

The Company announces that as at the close of business on 6 January 2012, the
unaudited capital only net asset value per ordinary share, valued on a `bid
price' basis, was 2,856.66p

Enquiries:
Keith Hawkins, TMF Corporate Secretarial Services Limited
Email: [e-mail]

Date: 10 January 2012