Net Asset Value(s)

GCP Asset Backed Income Fund Limited

(the "Company" and/or "GCP Asset Backed")

LEI 213800FBBZCQMP73A815

Net Asset Value

16 July 2019

GCP Asset Backed, which invests in asset backed loans, is pleased to announce that as at 30 June 2019, the unaudited net asset value per ordinary share of the Company (including current period revenue) was 102.31 pence.

For further information, please contact:

Gravis Capital Management Limited +44 (0) 20 3405 8500

David Conlon

Dion Di Miceli

Cenkos Securities plc +44 (0) 20 7397 8900

Tom Scrivens

Oliver Packard

Sapna Shah

Buchanan/Quill +44 (0) 20 7466 5000

Helen Tarbet

Nick Croysdill

Henry Wilson

Notes to Editors

The Company

The Company is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.