Final Results - Year Ended 30 September 1999

Finsbury Growth Trust PLC
29 November 1999


PRELIMINARY RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 1999

Finsbury Growth Trust PLC, which invests in larger UK company shares with the
objective of achieving capital appreciation leading to income growth, today
announces preliminary results for the year ended 30 September 1999.


                                                  1999      1998    % change
               
Investment income (£'000)                        3,598     3,399        +5.9
Other income (£'000)                               482       261       +84.7
Revenue before taxation (£'000)                  2,664     2,409       +10.6
Revenue per ordinary share                        5.02p     4.16p      +20.7
Total annual dividend per ordinary share          4.00p     3.75p       +6.7
Total return per ordinary share                  34.88p   (15.04p)         -
Net assets per ordinary share                    218.5p    187.2p      +16.7
FTSE All-Share Index                             2,826     2,345       +20.5

The Directors have declared a recommended final dividend for the year of 2.80p
per share to be paid on 23 December 1999 to shareholders on the register at the
close of business on 3 December 1999.


For and on behalf of Rea Brothers Limited - Secretary

29 November 1999

The following are below:

*   Balance Sheets of the Group and Company
*   Consolidated Statement of Total Return
*   Notes to the results

For further information please contact:
Mark Mathias, Finsbury Asset Management      [phone]
Neil Mainland, Mainland Public Relations     [phone]
 

Finsbury Growth Trust PLC

Consolidated Statement of Total Return
incorporating the revenue account for the year ended 30 September 1999 

                      Revenue   Capital   Total    Revenue    Capital    Total
                         1999      1999    1999       1998       1998     1998
                         £000      £000    £000       £000       £000     £000
                                   
Gains/(losses) on 
investments                 -    15,550  15,550          -     (7,054) (7,054)
Investment income       3,598         -   3,598      3,399          -    3,399
Other income              482         -     482        261          -      261
Investment management 
 fee                     (358)     (718) (1,076)      (340)      (679) (1,019)
Other expenses           (490)        -    (490       (334)         -    (334)
                                   
Net return before 
finance costs and 
taxation                 3,232   14,832  18,064      2,986     (7,733) (4,747)
Interest payable
and similar charges       (568)  (1,099) (1,667)      (577)    (1,098) (1,675)

Return on ordinary 
activities before 
taxation                 2,664   13,733  16,397      2,409     (8,831) (6,422)
Taxation on ordinary 
activities                (349)       -    (349)      (483)         -    (483)
                                   
Return on ordinary 
activities after 
taxation                 2,315   13,733  16,048      1,926     (8,831) (6,905)
Dividends in respect
of non-equity shares       (11)       -     (11)       (11)         -     (11)
                                   
Return attributable
to equity shareholders   2,304   13,733  16,037      1,915     (8,831) (6,916)
Dividends in respect
of equity shares        (1,826)       -  (1,826)    (1,725)         -  (1,725)
                                   
Transfer to/(from) 
reserves                   478   13,733  14,211        190     (8,831) (8,641)
                                   
Return per equity share   5.02p   29.86p  34.88p      4.16p   (19.20p)(15.04p)
                                   

Finsbury Growth Trust PLC

Consolidated Balance Sheet
At 30 September 1999 
                                                      1999             1998
                                                      £000             £000
          
Fixed asset investments                            110,589           99,865
Net current assets                                   8,911            6,261
          
Total assets less current liabilities              119,500          106,126
Creditors -amounts falling due after 
more than one year                                 (19,845)         (19,787)
          
Net assets                                          99,655           86,339
          
Capital and reserves          
Called up share capital                             11,600           11,725
Share premium account                               13,160           13,160
Capital redemption reserve                           1,467            1,342
Capital reserve - realised                          57,768           45,442
Capital reserve - unrealised                        14,098           13,586
Revenue reserve                                      1,562            1,084
          
Total shareholders' funds                           99,655           86,339
          
Total shareholders' funds
Are attributable to:          
Equity shareholders                                 99,430           86,114
Non-equity shareholders                                225              225
                                                    ------           ------
                                                    99,655           86,339
          
Net asset value per equity share                     218.5p           187.2p
Net asset value per preference share                 100.0p           100.0p

Notes

These accounts are not statutory accounts.  Statutory accounts for the 12 months
ended 30 September 1998 have been delivered to the Registrar of Companies and
received an audit report which was unqualified and did not contain statements
under Section 237 (ii) and (iii) of the Companies Act 1985.

Rea Brothers Limited - Secretary
29 November 1999