Issue of New Ordinary Shares

Finsbury Growth & Income Trust PLC
24 August 2005

                       FINSBURY GROWTH & INCOME TRUST PLC

                                 24 August 2005



Allotment of Ordinary Shares





FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
50,000 Ordinary shares of 25p each fully paid under its block listing facility.



These shares were issued today at a price of 253.50p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 1.85%.



The net asset value per Ordinary share at the close of business on 23 August
2005 was 249.91p per share.



The total issued share capital of the Company is now 44,548,643 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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