Issue of Equity

31 October 2006

FINSBURY GROWTH & INCOME TRUST PLC

ISSUE OF NEW SECURITIES

In accordance with paragraph 2.3.2(2) of the Prospectus Rules of the Financial
Services Authority, Finsbury Growth & Income Trust PLC discloses the following
issues under its prospectus dated 29 March 2006 (the "Prospectus") of new
Ordinary Shares of 25p each:

Issue date                                      Number of new  Issue price per 
                                               Ordinary Shares   new Ordinary  
                                                   issued         Share (p)    
                                                                               
6 October 2006                                     35,000           302.0      
                                                                               
9 October 2006                                     125,000          301.0      
                                                                               
10 October 2006                                    50,000           301.5      
                                                                               
11 October 2006                                    306,600          301.0      
                                                                               
11 October 2006                                    50,000           302.25     
                                                                               
Total number of new Ordinary Shares issued         566,600                     
under the Prospectus since 1 October 2006                                      
                                                                               
Previously disclosed number of new Ordinary       1,050,000                    
Shares issued under the Prospectus                                             
                                                                               
Total number of new Ordinary Shares issued        1,616,600                    
under Prospectus dated 29 March 2006                                           

Enquiries:

Tracey Lago

Close Investments Limited, Secretary

Tel. [phone]