Dividend Notification Declaration

Guinness Flight Geared Inc&Gwth Tst
19 July 2000


First Interim Dividend - Year to 31 March 2001
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The Board of Guinness Flight Geared Income & Growth Trust PLC has today
declared a First Interim Dividend on its Geared Ordinary and Income shares. 
The First Interim Dividend is in respect of the year ending 31 March 2001 and
amounts to 2.86p net per Geared Ordinary share.  The Income share dividend
rate is 2.05p per share, calculated in accordance with the formula to be set
out in the Company's Articles of Association, following the anticipated
sanctioning of the proposals to permit the rounding of dividend rates to two
decimal places at adjourned Class Meetings to be held on 26 July.  In the
event that the rounding proposals are not sanctioned, the Income share
dividend rate will be 2.050025p per share.

The dividend will be payable on 22 August 2000 to eligible shareholders on the
register at the close of business on 4 August 2000.