Portfolio Update

3 January 2007

                      FINSBURY GROWTH & INCOME TRUST PLC                       
                                (the "Company")                                

                      QUARTERLY STATEMENT OF INVESTMENTS                       

In compliance with the Listing Rules - Chapter 21 Investment Entities (I)(ii),
the Company discloses the following:

  * Investments valuing greater than 5% of the Company's gross assets comprise
    the following:
   
Company Name                                Value of Investment    % of Total  
                                            at 31 December 2006     Portfolio   
                                                                     Assets    
                                                                               
HBOS                                        22,654,067               12.33     
DIAGEO                                      14,341,264                7.81     
WOLVERHAMPTON & DUDLEY BREWERIES            14,191,758                7.73     
CADBURY SCHWEPPES                           10,839,554                5.90     
BARR(AG)                                    10,324,000                5.62     
LLOYDS TSB GROUP                             9,486,900                5.16     

  * The ten largest investments held by the Company comprise the following:
   
Company Name                                Value of Investment    % of Total  
                                            at 31 December 2006     Portfolio   
                                                                     Assets    
                                                                               
HBOS                                        22,654,067               12.33     
DIAGEO                                      14,341,264                7.81     
WOLVERHAMPTON & DUDLEY BREWERIES            14,191,758                7.73     
CADBURY SCHWEPPES                           10,839,554                5.90     
BARR(AG)                                    10,324,000                5.62     
LLOYDS TSB GROUP                             9,486,900                5.16     
PEARSON                                      8,348,016                4.54     
SAGE GROUP                                   7,898,295                4.30     
REED ELSEVIER                                7,058,657                3.84     
UNILVER                                      7,025,700                3.82     

For further information please contact:
Tracey Lago, Senior Company Secretary
Close Investments Limited
Telephone: [phone]