Holding(s) in Company

SCHEDULE 10

                    NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company
Aberforth Geared Capital & Income Trust plc

2)   Name of shareholder having a major interest
Apollo Fund plc

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
Notification is in respect of holding of the shareholder named in 2 above.

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
Chetwyn Nominees Limited

5)   Number of shares/amount of stock acquired
n/a

6)   Percentage of issued class
n/a

7)   Number of shares/amount of stock disposed
132,500

8)   Percentage of issued class
0.54

9)   Class of security
Income Shares of 1p

10)  Date of transaction
6 July 2004

11)  Date company informed
6 July 2004

12)  Total holding following this notification
867,500

13)  Total percentage holding of issued class following this notification
3.54%

14)  Any additional information
Cayenne Asset Management Limited is the investment
manager of Apollo Fund plc.

15)  Name of contact and telephone number for queries
Steven McKeane - 0131 220 0733

16)  Name and signature of authorised company official responsible for
     making this notification
Steven McKeane, for Aberforth Partners, Secretaries.

     Date of notification - 7 July 2004