Net Asset Value(s)

Glasgow Income Trust PLC
21 June 2006






                             GLASGOW INCOME TRUST plc



The Net Asset Value of Glasgow Income Trust plc as at close of business on 20
June 2006 was 85.5p.


This NAV has been prepared on the basis of guidance issued by the Association of
Investment Trust Companies (AITC). The AITC recommends Investments be valued at
bid price.



Glasgow Income Trust plc, an investment trust, is managed by Glasgow Investment
Managers Limited.



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