Blocklisting Application

Glasgow Income Trust PLC
14 July 2004


Glasgow Income Trust plc

14 July 2004

Block Listing Application

Glasgow Income Trust plc (the "Company") has applied for the blocklisting of
2,850,000 ordinary shares of 25p each. The blocklisting application has been
made in connection with The Glasgow TrustPlan and to enable the Company to meet
market demand for its shares which exists from time to time. Shares will not be
issued pursuant to the blocklisting unless at the time of issue, the price of an
existing share exceeds the underlying net asset value of that share.


Enquiries:

Michael Carney                                           0141 572 2700
Glasgow Investment Managers Limited


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