Portfolio Investments

GUINNESS FLIGHT GEARED INCOME & GROWTH TRUST PLC 20 July 1999 The company announces the following unaudited data relating to its portfolio of investments as at 16 July 1999: TOTAL ASSETS £67,280,209 TOTAL BANK DEBT £18,150,000 NET ASSETS £49,130,209 NAV PER ZERO DIVIDEND PREFRENCE SHARE 105.82p NAV (EX INCOME) PER INCOME SHARE 100.00p NAV (EX INCOME) PER GEARED ORDINARY SHARE 197.51p