Allotment of New Shares

Finsbury Growth & Income Trust PLC
29 April 2005


                       FINSBURY GROWTH & INCOME TRUST PLC

                                 29 APRIL 2005

Allotment of Ordinary Shares


FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
150,000 Ordinary shares of 25p each fully paid under its block listing facility.

These shares were issued today at a price of 235.00p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 1.5%.

The net asset value per Ordinary share at the close of business on 28 April 2005
was 229.83p per share.

The total issued share capital of the Company is now 42,626,430 Ordinary shares
of 25p each.

                                    - Ends -

Enquiries:

Alastair Smith       Close Finsbury Asset Management Ltd       020 7426 6240
Tracey Lago          Close Finsbury Asset Management Ltd       020 7426 6219


                      This information is provided by RNS
            The company news service from the London Stock Exchange