General Meeting

NEWS RELEASE

                                                                7 December 2012

                      Finsbury Growth & Income Trust PLC                       

                                (the `Company')                                

Since the Company's General Meeting (`GM') held on Friday, 11 May 2012, its
Ordinary Shares (`Shares') have consistently traded close to the Net Asset
Value per Share. This has enabled the Directors to use the authority granted to
them at the GM to issue a further 5,725,000 Shares.

The Company announces that the authority granted in May 2012 has been almost
fully utilised and that it has taken the steps necessary to enable it to
continue to issue further Shares.

The Company intends to convene a General Meeting to propose resolutions to seek
further authority to allot Shares and to disapply pre-emption rights in respect
of the issue of such Shares. If granted, such authority would enable the Board
to continue the policy of issuing new Shares into the market at a premium to
the cum income NAV per Share when demand arises. It is expected that the
circular convening the General Meeting will be sent to shareholders shortly and
that a General Meeting will be held during December 2012.

For further information please Contact:

Victoria Streater

Frostrow Capital LLP, Company Secretary

Telephone: [phone]