Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                4 January 2007                                 

Allotment of Ordinary Shares

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
50,000 Ordinary shares of 25p each fully paid issued under its block listing
facility.

These shares were issued today at a price of 324.50p per share, which equates
to a premium to the estimated net asset value at the time of transaction of
1.50%.

The net asset value per Ordinary share at the close of business on 3 January
2007 was 320.84p per share.

The total issued share capital of the Company is now 50,887,423 Ordinary shares
of 25p each.

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Enquiries:

Tracey Lago Close Investments Limited 020 7426 6219