Directorate Change

GCP Asset Backed Income Fund Limited

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

LEI 213800FBBZCQMP73A815

Board Appointment

7 November 2019

The Board of GCP Asset Backed, which invests in asset backed loans, is pleased to announce the appointment of Marykay Fuller as non-executive director of the Company with effect from 6 November 2019.

Marykay is a banking and finance professional with 30 years' experience in debt and equity markets, working with a broad range of businesses across a variety of jurisdictions including the UK, USA, Europe, South America and Asia. Most recently, she was a senior deal advisory partner at KPMG LLP where she also represented the firm on the board of the trade group, British American Business.

Marykay is currently a non-executive director of the UK Civil Aviation Authority, where she is a member of the audit committee. She also serves on the Alumni Advisory Board of Heinz College, Carnegie Mellon University in the USA.

Alex Ohlsson, Chairman, commented, "We are delighted to welcome Marykay to the Board. She brings a wealth of business and debt experience. Her experience is relevant and compliments the skillsets of the existing Directors, thereby strengthening the Board as we continue the implementation of our strategy".

There is no information concerning Marykay which is required to be disclosed pursuant to Listing Rule 9.6.13 R (2) to (6) inclusive and the Board consider her to be independent on appointment per the AIC Code of Corporate Governance.

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

Will Rogers

Rob Naylor

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.