Issue Price

Glasgow Income Trust PLC
18 December 2006


RIS Announcement

Glasgow Income Trust plc

For immediate release

Issue Price

Glasgow Income Trust plc (the "Company") announces that the Issue Price of New
Shares to be issued to shareholders in Gartmore High Income Trust plc ("GHIT"),
who have elected to roll their shareholding into the Company under the Scheme,
will be 102.3p per share. Approximately £6.2 million of shareholders' funds are
rolling over from GHIT into the Company. The exact number of New Shares in the
Company to be issued under the Scheme will be announced on 20 December 2006.

The Second EGM of GHIT has been convened for 11.00 a.m. on 20 December 2006 at
which GHIT will put to its shareholders a special resolution to appoint
liquidators of GHIT. If that resolution is passed, the Scheme is expected to
become effective on that date. Assuming the Scheme becomes unconditional, it is
expected that New Shares under the Scheme will be issued and will be admitted to
listing on the Official List and to trading on the London Stock Exchange on 21
December 2006.

Further details are contained in the prospectus issued by the Company on 8
November 2006 and defined terms in that prospectus shall have the same meaning
in this announcement.

Enquiries

Glasgow Investment Managers Limited
Kenny Harper
0141 572 2700



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