Net Asset Value

CAPITAL GEARING TRUST P.L.C (the "Company") Net Asset Value The Company announces that as at the close of business on 5 April 2012, the unaudited capital only net asset value per ordinary share, valued on a `bid price' basis, was 2,875.57p. Enquiries: Keith Hawkins, TMF Corporate Secretarial Services Limited Email: company.secretary@capitalgearingtrust.com Date: 11 April 2012
UK 100

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