Aberforth Geared Income Trust plc ("AGIT") and Aberforth Split Level Income
    Trust plc ("ASLIT")

    30 June 2017

    RESULTS OF GENERAL MEETING, SCHEME OF RECONSTRUCTION, PLACING AND OFFER FOR
    SUBSCRIPTION AND APPLICATION FOR ADMISSION

    At a general meeting of AGIT held earlier today the special resolution proposed
    to wind up AGIT voluntarily under the provisions of the Insolvency Act 1986 and
    appoint Derek Neil Hyslop and Colin Peter Dempster of Ernst & Young LLP as
    liquidators was passed by AGIT's Ordinary Shareholders on a show of hands.

    A total of 60.6 million proxy votes were received, representing 55.4 per cent.
    of the 109.5 million AGIT Ordinary Shares in issue, in respect of this
    resolution at the general meeting.   Of the proxy votes cast, over 99 per cent.
    were cast in favour of the special resolution.  The table, set out at the
    bottom of this Announcement, shows the full results of the proxy voting.

    Pursuant to the scheme of reconstruction of AGIT under section 110 of the
    Insolvency Act 1986 (the "Scheme") and the ASLIT Placing and Offer for
    Subscription, the Directors of ASLIT have resolved to allot 190,249,900 million
    ASLIT Ordinary Shares and 47,562,500 ASLIT ZDP Shares.  ASLIT already has 100
    ASLIT Ordinary Shares in issue.

    The Scheme has become unconditional.

    Application has been made for the ASLIT Ordinary Shares and the ASLIT ZDP
    Shares to be admitted to the listing on the premium and standard segments of
    the Official List respectively and to trading on the main market of the London
    Stock Exchange at 8.00 a.m. on 3 July 2017 ("Admission").

    Following Admission ASLIT will have 190,250,000 Ordinary Shares each carrying
    one voting right per share and 47,562,500 ZDP Shares each carrying voting
    rights in the limited circumstances set out in the articles of association of
    ASLIT.

    Details of the Proxy Votes

                               For    Against   Total Votes      Withheld
                                                                         
    1) Special          60,638,352        456    60,638,808       166,713
    Resolution                                                           

    Given the first special resolution set out in the notice of the general meeting
    which was sent to AGIT's shareholders with the circular dated 19 May 2017 (the
    "Notice") was passed by AGIT's Ordinary Shareholders, the second special
    resolution set out in the Notice was withdrawn.

    A copy of the special resolution passed at the general meeting has been
    submitted to the National Storage Mechanism and will shortly be available for
    inspection at www.morningstar.co.uk/uk/NSM.

    For further information please contact:       

    Investment Managers

    Aberforth Partners LLP                        +44 (0) 131 220 0733

    Euan Macdonald

    Alistair Whyte

    Advisers to AGIT

    Dickson Minto W.S.                              +44 (0) 207 649 6823

    Douglas Armstrong                  

    Advisers to ASLIT

    J.P. Morgan Cazenove (JPMC)             +44 (0) 207 742 4000

    William Simmonds

    Edward Gibson-Watt

    Oliver Kenyon

    Kepler Partners LLP                             +44 (0) 203 384 8796

    Hugh van Cutsem