Holding in Company

RNS Number:8656I
Pavilion Geared Recovery Trust PLC
22 August 2001

Pavilion Geared Recovery Trust PLC

The Company was informed on 21 August 2001 by Aberdeen Asset Managers Limited
that they have acquired 2,500,000 Ordinary Income 1p shares as a result of the
recent placing, on behalf of Aberdeen High Income Trust Plc.

Aberdeen High Income Trust Plc now holds 2,500,000 Ordinary Income 1p shares,
representing 8.33% of the issued class of capital (previously 0%).

Also as a result of the recent placing, Aberdeen Asset Managers Limited
acquired 1,000,000 Ordinary Income 1p shares on behalf of The Media & Income
Trust Plc.

The Media & Income Trust Plc now holds 1,000,000 Ordinary Income 1p shares,
representing 3.33% of the issued class of capital (previously 0%).

Aberdeen Asset Managers Limited also acquired as a result of the recent
placing, 1,000,000 Ordinary Income 1p shares, on behalf of Leveraged Income
Fund Limited.

Leveraged Income Fund Limited now holds 1,000,000 Ordinary Income 1p shares,
representing 3.33% of the issued class of capital (previously 0%).

Aberdeen Asset Managers Limited also acquired as a result of the recent
placing, 3,500,000 Ordinary Income 1p shares, on behalf of Real Estate
Opportunities Trust Limited.

Real Estate Opportunities Trust Limited now holds 3,500,000 Ordinary Income 1p
shares, representing 11.67% of the issued class of capital (previously 0%).

Aberdeen Asset Managers Limited have also acquired as part of the recent
placing, 500,000 Ordinary Income 1p shares, on behalf of discretionary funds
under management.

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 (previously 0%).

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
Leveraged Income Fund Limited                              1,000,000       3.33
Real Estate Opportunities Limited                          3,500,000      11.67
Aberdeen Fund of Investment Trusts                           500,000       1.67