Investment Portfolio

Guinness Flight Geared Inc&Gwth Tst
4 April 2000

The company announces the following unaudited data relating to its portfolio
of investments as at 31 March 2000:

TOTAL ASSETS                              £151,233,569
TOTAL BANK DEBT                           £ 47,550,000
NET ASSETS                                £103,683,569

NAV PER ZERO DIVIDEND PREFERENCE SHARE         112.11p
NAV (EX INCOME) PER INCOME SHARE               100.00p
NAV (EX INCOME) PER GEARED ORDINARY SHARE       78.27p