Top Ten Investments

ABERFORTH GEARED CAPITAL & INCOME TRUST plc


The  Board  of Aberforth Geared Capital & Income Trust plc ("the  Company")
confirms  that, as at 30 September 2004, the top ten investments ranked  by
market value of the Company's total investable assets were as follows: -


Company               Value (£) Weight (%) Accumulated (%)

RPC Group             2,151,460       2.4%            2.4%
Carillion             2,114,490       2.4%            4.8%
Headlam Group         2,006,050       2.3%            7.1%
Johnson Service       1,981,470       2.2%            9.3%
Group
Interserve            1,850,875       2.1%           11.4%
Spirax-Sarco          1,821,000       2.1%           13.5%
Engineering
ITE Group             1,800,696       2.0%           15.5%
Croda                 1,739,063       2.0%           17.5%
International
Forth Ports           1,716,045       1.9%           19.4%
Holidaybreak          1,649,520       1.9%           21.3%


Contact for enquiries
Steven McKeane
Aberforth Partners
0131 220 0733

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