Top 10 Holdings

Glasgow Income Trust PLC
04 July 2005


4 July 2005

GLASGOW INCOME TRUST PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Glasgow Income Trust PLC
announces that at 30 June 2005 the ten largest investments held were as follows:

Company                                                     £        % of
                                                                 Total Assets

Lloyds TSB (includes fixed interest stocks)         2,754,699              3.2
Severn Trent                                        2,499,359              2.9
Balfour Beatty (includes fixed interest stocks)     2,499,339              2.9
HSBC Holdings                                       2,218,111              2.6
Viridian Group                                      2,149,484              2.5
Scottish & Southern Energy                          2,107,040              2.4
Wolverhampton & Dudley                              2,073,369              2.4
ATH Resources                                       2,055,300              2.4
Holidaybreak                                        2,037,848              2.4
Provident Financial                                 2,010,400              2.3

Glasgow Income Trust plc is managed by Glasgow Investment Managers Limited



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