Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                31 January 2007                                

Allotment of Ordinary Shares

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
100,000 Ordinary shares of 25p each fully paid issued under its block listing
facility.

These shares were issued today at a price of 322.5p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 1.67%.

The net asset value per Ordinary share at the close of business on 30 January
2007 was 318.18p per share.

The total issued share capital of the Company is now 51,237,423 Ordinary shares
of 25p each.

Enquiries:

Tracey Lago

Close Investments Limited

Tel: [phone]