Issue of Equity

Finsbury Growth & Income Trust PLC
23 May 2006


                        FINSBURY GROWTH & INCOME TRUST PLC

                                  23 May 2006


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 275.0p 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 22 May 2006
was 267.06p per share.

The total issued share capital of the Company is now 48,661,573 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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