Net Asset Value(s)

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

Date: 24 December 2015

Net Asset Values

The Company announces that, as at the close of business on 23 December 2015, the unaudited net asset values per ordinary share, valued on a 'bid price' basis, were:

Capital only: 3,283p

Including income: 3,296p                                              

Enquiries:

Steven Cowie

Company Secretary

Email: [e-mail]