Interim Management Statement

FINSBURY GROWTH & INCOME TRUST PLC                       

    Interim Management Statement - 3 months to 31 December 2009 (unaudited)    

Finsbury Growth & Income Trust PLC invests principally in the shares of UK
listed companies with the objective of achieving capital and income growth and
providing a total return in excess of that of the FTSE All-Share Index.

The 3 month period ended 31 December 2009 was a positive one for markets. The
Company's net asset value total return was 4.5%. The share price total return
was slightly more at 5.4%. These results compare to the total return from our
benchmark index, the FTSE All-Share Index, of 5.5% over the same period. Post
the period end, to 27 January 2010, the Company's net asset value total return
was 3.3% and the share price total return was slightly less at 3.0%. The total
return from the benchmark index was 2.2%.

During the period and up to the date of this report the Company issued a total
of 680,000 new shares raising £1.6m and repurchased a total of 1,612,805
shares, currently held in treasury, at a cost of £3.8m (including expenses) at
an average discount of 5.8%. As at 28 January the Company had 52,797,423 shares
in issue, of which 2,458,555 shares were held in treasury.

All of the resolutions proposed at the Company's Annual General Meeting, held
on 27 January 2010, including an ordinary resolution approving a revision to
the Company's investment policy allowing a maximum of 20% of the Company's
portfolio to be invested in quoted companies worldwide, were passed. Details of
the level of proxy votes received can be found on the Company's website 
www.finsburygt.com.

Trust Characteristics

                               31 December 2009          30 September 2009     
                                                                               
Number of holdings                    23                         22            
                                                                               
Net assets (£m)                      128.8                     125.0           
                                                                               
Net yield                            3.9%                       4.1%           
                                                                               
Gearing (AIC basis)                   111                       111            
                                                                               
Share price (p)                     243.50                     231.00          
                                                                               
NAV (p) (undiluted for              255.05                     243.89          
                                                                               
treasury shares)                                                               
                                                                               
NAV (p) (diluted for                254.55                     243.52          
                                                                               
treasury shares)                                                               
                                                                               
Discount of share price to           4.53%                     5.29%           
NAV (undiluted for                                                             
treasury shares)                                                               
                                                                               
Discount of share price to           4.34%                     5.14%           
NAV (diluted for treasury                                                      
shares)                                                                        

Source: Frostrow Capital LLP

Sector Analysis

                                % of portfolio             % of portfolio      
                                                                               
                             at 31 December 2009        at 30 September 2009   
                                                                               
Financials                           12.9                       13.6           
                                                                               
Consumer Services                    26.0                       25.7           
                                                                               
Consumer Goods                       48.0                       45.4           
                                                                               
Technology                           10.3                       10.9           
                                                                               
Preference Shares                    2.8                        4.4            
                                                                               
Total                               100.0                      100.0           

Source: Frostrow Capital LLP

10 Largest Investments

Name                            % of portfolio             % of portfolio      
                                                                               
                             at 31 December 2009        at 30 September 2009   
                                                                               
Diageo                               11.1                       10.2           
                                                                               
Barr (AG)                            11.1                       10.4           
                                                                               
Unilever                             11.1                       10.1           
                                                                               
Cadbury                              10.1                       9.6            
                                                                               
Pearson                              7.3                        6.6            
                                                                               
Fidessa                              5.5                        5.6            
                                                                               
Sage                                 4.8                        5.2            
                                                                               
Schroders                            4.6                        3.9            
                                                                               
Reed Elsevier                        4.4                        4.1            
                                                                               
Rathbone Brothers                    3.9                        4.3            
                                                                               
Total                                73.9                       70.0           

Source: Frostrow Capital LLP

Total Return Performance (to 31 December 2009)

              1 Month      3 Months     Year to date  1 Year       3 Years     
                                                                               
Share Price   +5.4%        +5.4%        +33.7%        +33.7%       -15.6%      
                                                                               
NAV per share +5.3%        +4.5%        +35.3%        +35.3%       -10.3%      
                                                                               
(diluted for                                                                   
                                                                               
treasury                                                                       
shares)                                                                        
                                                                               
Benchmark*    +4.3%        +5.5%        +30.1%        +30.1%       -4.0%       

Source: Morningstar

* Benchmark - FTSE All-Share Index measured on a total return basis.

Past performance is not a guide to future performance.

This Interim Management Statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.

This Interim Management Statement is available on the Company's website 
www.finsburygt.com.

The Company's Net Asset Value per share is announced daily and is available,
together with the share price, on the TrustNet website at www.trustnet.com

SEDOL Code:

Ordinary Shares - 0781606

ISIN -

Ordinary Shares GB0007816068

For further information contact: Mark Pope on 0203 008 4913

Frostrow Capital LLP

Company Secretary

28 January 2010