Transaction in Own Shares

NEWS RELEASE

                                                                    22 May 2009

                      FINSBURY GROWTH & INCOME TRUST PLC                       

                                (the "Company")                                

                  SALE OF COMPANY'S OWN SHARES FROM TREASURY                   

Notification is given pursuant to the authority granted at the Annual General
Meeting of the Company held on 23 January 2009 to sell shares held by the
Company as treasury shares up to an aggregate nominal value of £1,270,467,
representing 10 per cent. of the issued ordinary share capital of the Company.

That, a market total of 120,000 Ordinary shares of 25p each were sold by the
Company on 22 May 2009 from the shares held in treasury at a price of 197.5p
per share which equates to an estimated discount to net asset value at the time
of sale of 4.4%.

The resultant total number of Ordinary shares held in treasury by the Company
is 2,173,250. The number of Ordinary shares that the Company has in issue
following such sale is 50,624,173.

For and on behalf of

Frostrow Capital LLP

Company Secretary

For further information, please contact:

Mark Pope

Frostrow Capital LLP

Tel: [phone]