Portfolio Of Investments

GUINNESS FLIGHT GEARED INCOME & GROWTH TRUST PLC
17 August 1999


The company announces the following unaudited data relating to its portfolio
of investments as at 6 August 1999:

TOTAL ASSETS                              £65,302,271
TOTAL BANK DEBT                           £18,150,000
NET ASSETS                                £47,152,271

NAV PER ZERO DIVIDEND PREFERENCE SHARE         106.48p
NAV (EX INCOME) PER INCOME SHARE               100.00p
NAV (EX INCOME) PER GEARED ORDINARY SHARE      163.18p