Net Asset Value(s)

Progressive Geared Income Trust plc announces that its unaudited net asset value as at 31st March 2003 was £5.530 million, representing 12.29p per ordinary share. Visit our website at http://www.pro-asset.com/ ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/03/20030403BIT01190/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/03/20030403BIT01190/wkr0002.pdf