Intention to Convene a General Meeting

NEWS RELEASE

                                                                  24 April 2012

                      Finsbury Growth & Income Trust PLC                       

                                (the `Company')                                

Since the Company's last Annual General Meeting (`AGM') held on 18 January
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 AGM to issue a further 5,130,000 Shares.

The Company announces that the authority granted in January 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 May 2012.

For further information please Contact:

Mark Pope

Frostrow Capital LLP, Company Secretary

Telephone: [phone]