Issue of Equity

Finsbury Growth & Income Trust PLC
07 July 2005



                     FINSBURY GROWTH & INCOME TRUST PLC



                                  7 July 2005



Allotment of Ordinary Shares



FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
122,128 Ordinary shares of 25p each fully paid under its block listing facility.



These shares were issued today at a price of 248.67p 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 6 July 2005
was 249.68p per share.



The total issued share capital of the Company is now 44,148,643 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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