Investment Policy

ABERFORTH GEARED CAPITAL & INCOME TRUST plc The Board of Aberforth Geared Capital & Income Trust plc (the 'Company') notes the publication of the Investment Entities (Listing Rules and Conduct of Business) Instrument 2003 and confirms that, as previously stated, it is the Company's policy not to invest in any securities issued by investment trusts or investment companies. Contact for enquiries:- David Warnock Aberforth Partners 0131 220 0733 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/03/20031003BIT00240/wkr0001.doc http://www.waymaker.net/bitonline/2003/10/03/20031003BIT00240/wkr0002.pdf