Share Allotment Authority

NEWS RELEASE

                                                               11 November 2011

              FINSBURY GROWTH & INCOME TRUST PLC (the "Company")               

Since the Company's last Annual General Meeting (AGM) in January 2011, its
shares have consistently traded at their Net Asset Value ("NAV") or a small
premium to NAV. This has enabled the Directors to use the authority granted to
them at the AGM to issue a further 5.3 million new ordinary Shares ("Shares"),
at a premium of at least 0.5% to the cum income NAV per share at the time of
issue, raising an additional £17.3m for the Company.

The Company announces that its existing share allotment authority has now been
exhausted and that it has instructed advisers to take steps necessary to enable
the Company to continue to issue further Shares.

 The Company intends to convene a general meeting to propose resolutions to
seek further authority to allot new Shares and to disapply pre-emption rights
in respect of the issue of such new Shares. If granted, such authority would
enable the Board to continue the policy of issuing new Shares into the market
at a premium to the cum income NAV per share when demand arises. It is expected
that the circular convening the general meeting will be sent to shareholders
shortly and that the general meeting will be held during December.

For further information please contact:

Mark Pope

Frostrow Capital LLP, Company Secretary

Telephone [phone]