Cancellation of Preference Shares

Finsbury Growth Trust PLC
30 March 2000

                      CANCELLATION OF PREFERENCE SHARES

Finsbury Growth Trust PLC announces that the Court of Session, Edinburgh has
today approved the cancellation at par of all 225,000 of the Company's 5.0%
cumulative preference shares of £1 each ('Preference Shares'). It is expected
that formal cancellation of the Preference Shares will take place on 31 March
2000.

Subject to the formal cancellation of the Preference Shares, repayment will take
place on 31 March 2000.

In order to qualify for the repayment, shareholders must be on the register of
members by 5.00pm on 31 March 2000.


For further information, please contact:

David Fallon
Finsbury Asset Management
020 7426 6235