Allotment of New Shares

Finsbury Growth & Income Trust PLC
04 May 2005

                       FINSBURY GROWTH & INCOME TRUST PLC



                                   4 MAY 2005





Allotment of Ordinary Shares





FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
100,000 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 2.0%.



The net asset value per Ordinary share at the close of business on 3 May 2005
was 231.62p per share.



The total issued share capital of the Company is now 42,726,430 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


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