Holding in Company

Gartmore Monthly Income Tst PLC
15 October 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     GARTMORE MONTHLY INCOME TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     GEARED INCOME INVESTMENT TRUST PLC

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     AS ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     HSBC GLOBAL CUSTODY NOMINEES LTD. A/C 863147

5)   Number of shares/amount of stock acquired.

     -

6)   ( - %) of issued Class

7)   Number of shares/amount of stock disposed

     547,945

8)   ( 1.498% ) of issued Class

9)   Class of security

     ORDINARY SHARES OF 1P EACH

10)  Date of transaction

     12/10/01

11)  Date company informed

     15/10/01

12)  Total holding following this notification

     3,185,055
               
13)  Total percentage holding of issued class following this notification

     2.900%

14)  Any additional information



15)  Name of contact and telephone number for queries

     C. A. KEELEY
     020-7782 2389

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification   15/10/2001