Portfolio Update Top Ten Investments as at 31/1...

ABERFORTH GEARED CAPITAL & INCOME TRUST plc


The  Board of Aberforth Geared Capital & Income Trust plc  ("the
Company")  confirms that, as at 31 December 2007,  the  top  ten
investments ranked by market value (based on bid prices) of  the
Company's total investable assets were as follows: -


Company                      Value (£)  Weight %   Accumulated %
Greggs                       5,047,189      4.0%            4.0%
Robert Wiseman Dairies       3,254,190      2.6%            6.5%
Shanks Group                 3,150,875      2.5%            9.0%
Interserve                   3,039,957      2.4%           11.4%
Hampson Industries           3,025,704      2.4%           13.8%
Spirax-Sarco Engineering     3,004,516      2.4%           16.2%
MITIE Group                  2,835,134      2.2%           18.4%
UMECO                        2,699,473      2.1%           20.5%
Holidaybreak                 2,693,480      2.1%           22.7%
Hiscox                       2,668,514      2.1%           24.8%

Contact for enquiries
Gary Tait
Aberforth Partners LLP
0131 220 0733