Cumulative Pref.Shares

FINSBURY TRUST PLC
2 September 1999

CANCELLATION OF 7.5% CUMULATIVE PREFERENCE SHARES

The Directors of Finsbury Trust PLC announce that Court approval has been given
for the reduction of capital involved in the repayment of the Company's 7.5%
cumulative preference shares of £1 each (the 'Preference Shares').

A repayment of the £1 capital paid on the Preference Shares, together with the
37.5p premium provided for in the Company's Articles, will be made on 30
September 1999 to shareholders on the register of members at the close of
business on 24 September 1999.

The Company has previously announced that the fixed cumulative preference
dividend on the Preference Shares for the first half of the Company's financial
year will be paid on 30 September 1999.  Accordingly, there will be no further
payment due to shareholders for accruals of dividends.

Contact: Nathan Brown         Rea Brothers Limited - Secretary   
         Tel: [phone]