RNS Number:5695L
Pavilion Geared Recovery Trust PLC
12 October 2001


Pavilion Geared Recovery Trust PLC


The Company was informed today by Aberdeen Asset Managers Limited that they
sold 1,100,000 Ordinary Income 1p shares on 11 October 2001, on behalf of Real
Estate Opportunities Limited.


Real Estate Opportunities Limited now holds 2,400,000 Ordinary Income 1p
shares, representing 8.00% of the issued class of capital (previously 11.67%).


Aberdeen Asset Managers Limited also informed the Company that they acquired
1,100,000 Ordinary Income 1p shares on behalf of St David's Investment Trust
Plc.


St David's Investment Trust Plc now holds 1,100,000 Ordinary Income 1p shares,
representing 3.67% of the issued class of capital (previously 0.00%).


The total number of shares managed by Aberdeen Asset Managers Limited and its
associated companies is 8,500,000 Ordinary shares, representing 28.33% of the
issued class of capital.


The breakdown of the total holding is as follows:

Aberdeen High Income Trust PLC                               2,500,000     8.33
The Media & Income Trust PLC                                 1,000,000     3.33
St David's Investment Trust Plc                              1,100,000     3.67
Leveraged Income Fund Limited                                1,000,000     3.33
Real Estate Opportunities Limited                            2,400,000     8.00
Aberdeen Fund of Investment Trusts                             500,000     1.67
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