Gartmore Circular

Glasgow Income Trust PLC
17 November 2006


RNS ANNOUNCEMENT

Glasgow Income Trust PLC

17 November 2006

Publication of a circular by Gartmore High Income Trust plc

The Board of Glasgow Income Trust PLC (the "Company") refers to the announcement
made by the Company on 8 November 2006 and confirm that Gartmore High Income
Trust plc ("GHIT") has today circulated to its shareholders a scheme circular
(the "Circular") in connection with a scheme of reconstruction under section 110
of the Insolvency Act 1986 (the "Scheme") and that, conditional on the Scheme
becoming effective, the Company has agreed to offer its shares to GHIT
shareholders on the terms set out in the Circular and the prospectus of the
Company dated 8 November 2006 (the "Prospectus").

As set out in the Prospectus, it is expected that the Scheme will become
effective on 20 December 2006, the planned winding up date of GHIT, and that the
new shares to be issued to GHIT shareholders will be admitted to listing on 21
December 2006.

The Directors expect to announce the results of the separate placing and offer
as set out in the Prospectus on 24 November 2006.

All enquiries

G&N Collective Funds Services Limited
Tel. [phone]
Graeme Caton
Graham Reaves
Nigel Russell

Glasgow Investment Managers Limited
Tel. [phone]
Mike Balfour
Kenneth Harper




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