Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                  22 May 2012                                  

                         Allotment of Ordinary Shares                          

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
75,000 Ordinary shares of 25p each fully paid and allotted under the Company's
block listing authority of 11 April 2012.

These shares were issued today at a price of 328.5 pence per share, which
equates to a premium to the estimated cum income net asset value at the time of
transaction of 0.5%.

The cum income net asset value per Ordinary share at the close of business on
21 May 2012 was 324.77 pence per share.

Following this transaction and in conformity with the Transparency Directive's
transitional provision 6 the Company hereby notifies the market that the total
number of Ordinary shares that the Company has in issue is 65,433,381 Ordinary
shares of 25p each, of the total authorised capital of 100,000,000 Ordinary
shares of 25p each all with voting rights. No shares were held in treasury at
the date of announcement.

The figure of 65,433,381 may be used by shareholders as the denominator for the
calculation by which they may determine if they are required to notify their
interest in, or change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

Enquiries:

Mark Pope

Frostrow Capital LLP

Tel: [phone]