Result of AGM

NEWS RELEASE

                                                                1 February 2007

                      Finsbury Growth & Income Trust PLC                       

                              Results of the AGM                               

The Company is pleased to announce that at the Annual General Meeting held on
31 January 2007 all resolutions put to the meeting were duly passed on a show
of hands.

Resolutions

 1. To receive and consider the audited accounts and the Report of the
    Directors for the year ended 30 September 2006.
   
 2. To elect David Hunt as a Director of the Company.
   
 3. To re-elect Michael Reeve as a Director of the Company.
   
 4. To re-elect Anthony Townsend as a Director of the Company.
   
 5. To re-elect Giles Warman as a Director of the Company.
   
 6. To re-appoint RSM Robson Rhodes LLP as the Company's auditors and to
    authorise the Directors to determine their remuneration.
   
 7. To approve the Directors' Remuneration Report.
   
 8. To authorise the Directors to allot securities in the Company.
   
 9. To disapply the rights of pre-emption in relation to the allotment of
    securities contained in section 89 of the Companies Act 1985.
   
10. To authorise the Company to make market purchases of Ordinary shares in the
    Company.
   
11. That, the Company notes and confirms the appropriation of revenue reserves
    within the audited accounts for the years 30 September 2005 and 2006 in
    relation to the payment of excess dividends.
   
12. That, the Company abandons and undertakes not to pursue any and all rights
    and claims it may have in respect of such payments against members on the
    Register.
   
13. That, any distribution involved in such abandonment in relation to any such
    dividend be made out of the revenue reserves appropriated to that dividend.
   
14. That, the Company hereby abandons and undertakes not to pursue any and all
    rights and claims it may have against its Directors arising out of the
    payment of such dividends.
   
15. That, the Company hereby abandons and undertakes not to purse any and all
    rights and claims it may have against Close Investments Limited and its
    affiliates arising out of the payment of such dividends.
   
16. That, any two Directors or any Director and the Secretary be authorised and
    instructed to execute deeds in the forms produced to the meeting.
   
For further information please contact:

Michael Reeve   Chairman                                     via 020 7426 6219 
                                                                               
Nick Train      Lindsell Train Limited                       020 7225 6411     
                                                                               
Tracey Lago     Close Investments Limited                    020 7426 6219