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Framlington Inn.Gwth (FIT)

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Thursday 02 September, 2010

Framlington Inn.Gwth

Statement re Elections under Default Scheme

Framlington Innovative Growth Trust PLC: Elections under Default Scheme

Further to the announcements of 31 August and 1 September, the result of
elections under the Default Scheme is as follows:

  * elections for cash were made, or deemed to have been made, in respect of
    23,622,822 Shares; and
  * elections for UK Smaller Companies Fund Units were made, or deemed to have
    been made, in respect of 884,179 Shares.
Reclassification of Shares

As a result of the elections referred to above, 23,622,822 Shares will be
reclassified as Shares with 'A' rights and 884,179 Shares will be reclassified
as Shares with 'B' rights.

Application has been made to the UK Listing Authority and the London Stock
Exchange for the listing in respect of the Shares to be amended to reflect the
reclassification of the Shares as Reclassified Shares. It is expected that such
amendment will become effective and dealings in the Reclassified Shares will
commence with effect from 8.00 a.m. on 3 September 2010.

Suspension of Reclassified Shares

It is expected that the listing of the Reclassified Shares will be suspended at
7.30 a.m. on 7 September 2010.


The Default Scheme remains conditional on the passing of the special
resolutions which will be proposed at the general meeting of the Company
convened for 7 September 2010. The Default Scheme will not become effective
unless the resolutions are passed.


George Luckraft
Axa Framlington
020 7374 4100

Robin Archibald
Winterflood Investment Trusts
020 3100 0290

Capitalised terms shall bear the meanings given to them in the Company's
Circular dated 6 August 2010 unless the context otherwise requires.

2 September 2010


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