Portfolio Update

4 April 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            Portfolio   
                                                                     Assets    
                                               31 March 2007                   
                                                                               
HBOS                                        22,072,075           11.44         
                                                                               
DIAGEO ORD GBP28.935185                     14,856,200           7.70          
                                                                               
CADBURY SCHWEPPES ORD GBP0.125              13,949,540           7.23          
                                                                               
MARSTON'S ORD GBP0.07375                    13,846,765           7.18          
                                                                               
BARR (AG) ORD GBP0.25                       11,285,200           5.85          

  * The ten largest investments held by the Company comprise the following:
   
Company Name                                Value of Investment    % of Total  
                                                     at            Portfolio   
                                                                     Assets    
                                               31 March 2007                   
                                                                               
HBOS                                        22,072,075           11.44         
                                                                               
DIAGEO ORD GBP28.935185                     14,856,200           7.70          
                                                                               
CADBURY SCHWEPPES ORD GBP0.125              13,949,540           7.23          
                                                                               
MARSTON'S ORD GBP0.07375                    13,846,765           7.18          
                                                                               
BARR (AG) ORD GBP0.25                       11,285,200           5.85          
                                                                               
UNILEVER PLC ORD GBP0.0311                  9,499,855            4.92          
                                                                               
PEARSON ORD GBP0.25                         9,461,636            4.90          
                                                                               
LLOYDS TSB GROUP ORD GBP0.25                9,296,000            4.82          
                                                                               
RATHBONE BROTHERS ORD GBP0.05               7,731,885            4.01          
                                                                               
REED ELSEVIER ORD GBP0.125                  7,717,376            4.00          

For further information please contact:

Tracey Lago, Senior Company Secretary

Close Investments Limited

Telephone: [phone]