Issue of Equity

Glasgow Income Trust PLC
14 June 2005


                    Glasgow Income Trust plc (the "Company")

                    Announcement of Admission of New Shares

The Company refers to the placing of further ordinary shares in the Company,
details of which were set out in a previous announcement on 9 June 2005.

The Company announces that 6,767,396 further ordinary shares in the Company were
issued at a placing price of 75.75p and listed and admitted to trading on the
main market of the London Stock Exchange with effect from the commencement of
trading on 14 June 2005.

Glasgow Income Trust plc is managed by Glasgow Investment Managers Limited.

Enquiries:Mike Balfour/Kenneth Harper
Glasgow Investment Managers Ltd
0141 572 2700

14 June 2005



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