Dividend Declaration

Glasgow Income Trust PLC
21 February 2002

News Release

21 February 2002

GLASGOW INCOME TRUST PLC

The Board of Glasgow Income Trust plc has declared a first interim dividend of
1.03p per share (2001 - 1.00p per share) in respect of the year to 30 September
2002 payable on 31 May 2002 to shareholders on the register at close of business
on 3 May 2002.

Glasgow Income Trust plc is managed by Glasgow Investment Managers Limited.

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