Portfolio Update-Replacement

Finsbury Growth & Income Trust PLC
05 July 2005



                                                                     5 July 2005


                         AMENDMENT TO RNS NUMBER: 5070O
                      CHANGE TO DESCRIPTION OF HBOS HOLDING

                        FINSBURY GROWTH & INCOME TRUST PLC
                                  (the 'Company')

                        QUARTERLY STATEMENT OF INVESTMENTS


In compliance with the Listing Rules - Chapter 21 Investment Entities (I)(ii),
the Company discloses the following:

  • Investments valuing greater than 5% of the Company's gross assets comprise
    the following:

Company Name                          Value of Investment at      % of Total
                                            30 June 2005       Portfolio  Assets

HBOS Ord & Pref                               18,436,143              14.61
Cadbury Schweppes Ord                          9,647,300               7.65
Diageo Ord                                     9,505,650               7.53
Barr (AG) Ord                                  9,093,375               7.21
Wolverhampton & Dudley Breweries               8,983,890               7.12
Lloyds TSB Group Ord                           7,095,000               5.62
Shell Transport & Trading Ord                  6,597,392               5.23

  • The ten largest investments held by the Company comprise the following:

Company Name                          Value of Investment at      % of Total
                                            30 June 2005       Portfolio  Assets

HBOS Ord                                      18,436,143              14.61
Cadbury Schweppes Ord                          9,647,300                7.65
Diageo Ord                                     9,505,650                7.53
Barr (AG) Ord                                  9,093,375                7.21
Wolverhampton & Dudley Breweries               8,983,890                7.12
Lloyds TSB Group Ord                           7,095,000                5.62
Shell Transport & Trading Ord                  6,597,392                5.23
Sage Group Ord                                 5,929,375                4.70
Reed Elsevier Ord                              5,879,500                4.66
Reuters Group Ord                              5,636,650                4.47


                                    - ENDS -

For further information please contact:

Tracey Lago, Company Secretary
Close Finsbury Asset Management Limited
Telephone: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange