Management Arrangements

FINSBURY TECHNOLOGY TRUST PLC

MANAGEMENT ARRANGEMENTS

1 NOVEMBER 2006

The Board of Finsbury Technology Trust PLC ("the Company") announces that
Michael Bourne will cease to have principal responsibility for the day-to-day
management of the Company's portfolio with effect from 1 January 2007. From
that date, to the date of the Company's AGM, which is scheduled for April 2007,
Michael will remain an employee of Close Investments Limited ("Close
Investments"), but primary responsibility for the management of the Company's
portfolio will rest with Jeremy Gleeson. Jeremy has been involved in the
management of the Company's portfolio since 1997 and is principal portfolio
manager for a number of other funds managed by Close Investments.

The Board is satisfied that appropriate investment advisory arrangements are in
place for the period until the Company's AGM, but in light of the above the
Board and its advisers are reviewing the Company's longer term investment
management and administration arrangements.

A further announcement will be made in due course.

Enquiries:

Nathan Brown

Winterflood Investment Trusts, Corporate Stockbroker

Tel. [phone]