Purchase of Own Securities

Finsbury Growth Trust PLC
20 December 1999


LETTER DATED 16 December 1999

FINSBURY GROWTH TRUST PLC

REPURCHASE OF ORDINARY SHARES

The Board of Finsbury Growth Trust PLC announces that on 13 December 1999, the
Company repurchased for cancellation 240,000 of the Company's ordinary shares of
25p, representing 0.5% of the issued ordinary share capital, at a price of
187.5p per share.

To date the Company has now made the following repurchases of shares:

                                            cumulative
Date     no. of shares       price          total of shares     no. of
         repurchased         per share      repurchased         shares in issue

24/09/99   250,000           179.0p         250,000             45,750,000
27/09/99   250,000           179.0p         500,000             45,500,000
10/12/99    50,000           182.7p         550,000             45,450,000
13/12/99   240,000           187.5p         790,000             45,210,000
14/12/99    65,000           191.0p         855,000             45,145,000
15/12/99   444,500           194.25p*     1,299,500             44,700,500

* On 15 December the Company announced that it had repurchased 444,500 ordinary
shares at a price of 195.75p per share.  The Company has now been advised that
these shares were actually purchased at a price of 194.25p per share.  This
mistake was due to a booking error made by the broker


For further information, please contact:

Mark Mathias
Apax Finsbury Investment Management Limited
0207 426 6240