Transaction in Own Shares

Finsbury Growth & Income Trust PLC
09 July 2004

                                                                    NEWS RELEASE

                                                                     9 July 2004





                      FINSBURY GROWTH & INCOME TRUST PLC

                                (the 'Company')



                    MARKET PURCHASE OF COMPANY'S OWN SHARES



Notification is given pursuant to the authority granted at the Extraordinary
General Meeting of the Company held on 10 May 2004 to make market purchases of
the Company's own shares up to an aggregate maximum of 14.99% of the issued
Ordinary shares of the Company (excluding those shares held in treasury),
representing 5,299,929 Ordinary shares at the date of the meeting.



That a market total of 320,000 Ordinary shares of 25p each in the capital of the
Company were purchased by the Company today at a price of 181.00p per share. The
Company will hold such shares as treasury shares for reissue at a later date.



The total number of Ordinary shares held by the Company in treasury following
the purchase and non-cancellation of Ordinary shares is 3,245,000.  The number
of Ordinary shares that the Company has in issue, less the total number of
ordinary shares held by the Company in treasury following such purchase, is
35,211,430.





For and on behalf of

Close Finsbury Asset Management Limited

Company Secretary



For further information, please contact:



Alastair Smith

Close Finsbury Asset Management Limited

Tel: [phone]



Tracey Lago

Close Finsbury Asset Management Limited

Tel: [phone]



Nick Train

Lindsell Train Limited

Tel: [phone]


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