RNS Number:5141R
Progressive Geared Income Trust PLC
30 October 2003



As stated in the announcement of results for the year to 30 June 2003, released
on 23 October 2003, the Board of Progressive Geared Income Trust notes the
publication of the Investment Entities (Listing Rules and Conduct of Business)
Instrument 2003, following consultation paper CP164. The investment objective of
the Company remains to provide shareholders with a high level of income together
with the potential for capital growth. It is likely that the Company will have
more than 15% of its gross assets invested in UK listed investment companies.




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