The notification set out below is provided in accordance with the requirements
    of the EU Market Abuse Regulation.

    1 - Details of the person discharging managerial responsibilities / person   
    closely associated                                                           
                                                                                 
    a)    Name of natural person      Graham Menzies                             
                                                                                 
    2 - Reason for the notification                                              
                                                                                 
    a)    Position/status             Director                                   
                                                                                 
    b)    Initial notification/       Initial Notification                       
    amendment                                                                    
                                                                                 
    3 - Details of the issuer, emission allowance market participant, auction    
    platform, auctioneer or auction monitor                                      
                                                                                 
    a)    Full name of the entity     Aberforth Geared Income Trust plc          
                                                                                 
    b)    Legal Entity Identifier     2138008A77WGCP5LV740                       
    code                                                                         
                                                                                 
    4 - Details of the transaction(s): section to be repeated for (i) each type  
    of instrument; (ii) each type of transaction; (iii) each date; (iv) each     
    place where transactions have been conducted                                 
                                                                                 
    a)    Financial Instrument        Ordinary Shares                            
                                                                                 
    Identification Code               SEDOL: B4TR344                             
                                                                                 
    b)    Nature of transaction       Ceased management of a non-beneficial      
                                      portfolio   which held 3,650 Ordinary      
                                      Shares                                     
                                                                                 
    c)    Date Of Transaction         24 October 2016                            
                                                                                 
    d)    Price (s)                   N/A                                        
                                                                                 
    e)    Volume(s)                   3,650                                      
                                                                                 
    f)     Aggregated information     N/A                                        
                                                                                 
    g)    Place Of Transaction        N/A                                        
                                                                                 
    h)    Currency                    GBP - British Pound                        
                                                                                 
    Contact                           Gary Tait                                  
                                                                                 
                                      Aberforth Partners LLP, Secretaries        
                                                                                 
    Date of Notification              24 October 2016