Issue of Equity

Glasgow Income Trust PLC
25 January 2007


                                RIS Announcement


                            GLASGOW INCOME TRUST PLC


                            Further issue of equity


                                25 January 2007


The board of Glasgow Income Trust plc (the "Company") today announces that it
has raised additional capital through a placing of 3,450,000 ordinary shares,
being 2.91% of the ordinary shares currently in issue. It is proposed to issue
the ordinary shares at 103.5p per share, a premium to the current net asset
value of an ordinary share. It is expected that the new ordinary shares will be
admitted to listing on the Official List of the UK Listing Authority and to
trading on the main market of the London Stock Exchange on Friday, 26 January
2007. The Company intends to invest the proceeds of the issue in accordance with
its investment policy.


Enquiries:

Graeme McDonald
Glasgow Investment Managers Limited
0141 572 2700


Nigel Russell
G&N Collective Funds Services Limited
0131 226 4411








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