Net Asset Value(s)

Glasgow Income Trust PLC
15 February 2006



                              GLASGOW INCOME TRUST plc

The Net Asset Value of Glasgow Income Trust plc as at close of business on 14
February 2006 was 89.3p.

This NAV has been prepared under the Company's existing accounting policies and
not International Accounting Standards.

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



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