Issue of Equity

Finsbury Growth & Income Trust PLC
28 June 2005

                       FINSBURY GROWTH & INCOME TRUST PLC

                                  28 June 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 251.0p 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 27 June 2005
was 245.22p per share.

The total issued share capital of the Company is now 43,826,515 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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