Issue of Equity

Finsbury Growth & Income Trust PLC
23 June 2005



                       FINSBURY GROWTH & INCOME TRUST PLC

                                  23 June 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 252.5p 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 June 2005
was 248.01p per share.

The total issued share capital of the Company is now 43,626,515 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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