Net Asset Value(s)-Replacemnt

Glasgow Income Trust PLC
23 December 2002


GLASGOW INCOME TRUST plc

The following replaces the Net Asset Value announcement released on Thursday 19
December 2002 at 16:11 under RNS number 3815F.

The Net Asset Value as at close of business on 18 December 2002 was 52.9p, and
not 51.4p as previously stated.

All other details remain unchanged, and the full amended text appears below.



The Net Asset Value of Glasgow Income Trust plc as at close of business on 18
December 2002 was 52.9p.

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


                      This information is provided by RNS
            The company news service from the London Stock Exchange