Interim Management Statement

FINSBURY GROWTH & INCOME TRUST PLC                       

      Interim Management Statement - 3 months to 30 June 2010 (unaudited)      

Finsbury Growth & Income Trust PLC invests in the shares of UK listed companies
with the objective of achieving capital and income growth and providing a total
return in excess of that of the FTSE All-Share Index.

The 3 month period ended 30 June 2010 was a difficult one for markets due, in
part, to events in the Gulf of Mexico, with the Company's benchmark, the FTSE
All-Share Index, measured on a total return basis, falling by 11.8%. The
Company's net asset value per share fell by 2.9% over the same period and the
share price rose by 2.3% as the share price moved to a 0.8% premium to the net
asset value per share at the period end. Post the period end, to 10 August
2010, the Company's net asset value per share rose by 6.8% and the share price
by 6.4%. The Company's benchmark rose by 9.4%.

The Company paid a first interim dividend of 4.4p per share (first interim
dividend 2009: 4.4p per share) on 1 April 2010 in respect the year ending 30
September 2010. A second interim dividend is expected to be 4.4p per share
(2009: 5.1p) and will be paid on 1 November 2010 to shareholders registered at
the close of business on 1 October 2010. The associated ex-dividend date will
be 29 September 2010.

During the 3 month period the Company bought back 186,399 shares, to be held in
treasury, at a cost of £498,000 (including expenses) at an average discount of
5.8%. However, by the end of the period all of the shares held in treasury had
been reissued at an average discount of 3.6% raising £5.5m. Following the
period end, to 10 August 2010, the Company has issued a further 150,000 new
shares at a 0.5% premium to the Company's cum income net asset value per share
raising £420,000. As at 10 August 2010 the Company had 52,947,423 shares in
issue.

Trust Characteristics

                                    30 June 2010           31 March 2010       
                                                                               
Number of holdings                       25                      23            
                                                                               
Net assets (£m)                         142.3                  141.3           
                                                                               
Net yield                               3.5%                    3.6%           
                                                                               
Gearing (AIC basis)                      107                    110            
                                                                               
Share price (p)                        271.75                  265.75          
                                                                               
NAV (p) (undiluted for                 269.60                  277.79          
                                                                               
treasury shares)*                                                              
                                                                               
NAV (p) (diluted for                     N/A                   277.35          
                                                                               
treasury shares)*                                                              
                                                                               
Premium/(discount) of share             0.8%                  (4.33)%          
price to NAV (undiluted for                                                    
treasury shares)*                                                              
                                                                               
Discount of share price to NAV           N/A                   4.18%           
(diluted for treasury shares)*                                                 

Source: Frostrow Capital LLP

*No shares held in treasury as at 30 June 2010

Sector Analysis

                                     % of                       % of           
                                                                               
                             investment portfolio       investment portfolio   
                                                                               
                               at 30 June 2010            at 31 March 2010     
                                                                               
Financials                           13.7                       13.8           
                                                                               
Consumer Services                    29.7                       28.5           
                                                                               
Consumer Goods                       43.1                       43.7           
                                                                               
Technology                           11.1                       11.2           
                                                                               
Preference Shares                    2.4                        2.8            
                                                                               
Total                               100.0                      100.0           

Source: Frostrow Capital LLP

10 Largest Investments

Name                                 % of                       % of           
                                                                               
                             investment portfolio       investment portfolio   
                                                                               
                               at 30 June 2010            at 31 March 2010     
                                                                               
Barr (AG)                            12.2                       11.4           
                                                                               
Diageo                               10.5                       11.0           
                                                                               
Unilever                             9.8                        10.6           
                                                                               
Pearson                              7.1                        8.3            
                                                                               
Fidessa                              5.9                        5.9            
                                                                               
Sage                                 5.2                        4.9            
                                                                               
Reed Elsevier                        4.7                        4.8            
                                                                               
Kraft Foods                          4.5                        4.9            
                                                                               
Schroders                            4.2                        4.7            
                                                                               
Rathbone Brothers                    4.2                        4.4            
                                                                               
Total                                68.3                       71.3           

Source: Frostrow Capital LLP

Total Return Performance (to 30 June 2010)

                1 Month         Calendar        1 Year          3 Years        
                                                                               
                                Year to date                                   
                                                                               
Share Price     +3.1%           +13.6%          +48.3%          -7.0%          
                                                                               
NAV per share   -0.3%           +7.7%           +43.4%          -7.7%          
                                                                               
(diluted for                                                                   
                                                                               
treasury                                                                       
shares)                                                                        
                                                                               
Benchmark*      -4.6%           -6.2%           +21.1%          -16.2%         

Source: Fundamental data

* Benchmark - FTSE All-Share Index measured on a total return basis.

Past performance is not a guide to future performance.

This Interim Management Statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.

This Interim Management Statement is available on the Company's website 
www.finsburygt.com.

The Company's Net Asset Value per share is announced daily and is available,
together with the share price, on the TrustNet website at www.trustnet.com

SEDOL Code:

Ordinary Shares - 0781606

ISIN -

Ordinary Shares GB0007816068

For further information contact: Mark Pope on 0203 008 4913

Frostrow Capital LLP

Company Secretary

13 August 2010