Agreement Novation

Finsbury Growth & Income Trust PLC
02 October 2006

                                                                  2 October 2006


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


It is announced that with effect from 30 September 2006 the business of the
Company's Investment Manager, Close Finsbury Asset Management Limited, has been
transferred to Close Investments Limited.

The Company has novated its management contract to the new entity of Close
Investments Limited, on the same terms and conditions.



                                     -Ends-



Further information:

Tracey Lago - 020 7426 6219
Senior Company Secretary


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