Directorate Change

FINSBURY TECHNOLOGY TRUST PLC                         

                          APPOINTMENT OF NEW DIRECTOR                          

The Board of Finsbury Technology ("FTT") is delighted to announce the
appointment of Richard Holway as an independent non-executive director with
effect from 29 January 2007.

Richard has been involved in the UK IT sector for 40 years and is considered by
many to be one of the UK's leading analysts in the sector. He was Group
Marketing Director for Hoskyns (now Capgemini) and Managing Director of Wootton
Jeffreys before setting up Richard Holway Limited in 1986. He launched the
annual Holway Report in 1988, published the first edition of the newsletter
SYSTEMHOUSE in 1989 and followed this with the Hotnews Internet news service in
1996. In November 2000, Richard Holway Limited was acquired by Ovum, of which
he became a non-executive director whilst continuing to act as a consultant to
Ovum. Richard played a significant role in Ovum's highly successful IPO onto
AIM in early 2006. Ovum was acquired by Datamonitor at a considerable premium
in late 2006.

Richard has served as a non-executive director of over a dozen IT companies in
the last 15 years; both private and publicly quoted. He is currently a member
of BT Global Services Advisory Board and a General Partner of Elderstreet
Capital Partners. He is a Member of the British Computer Society and a Freeman
of the Worshipful Company of Information Technologists. He was a founder of the
Prince's Trust Technology Leadership Group in 2002 and will become Chairman in
April 07. His annual presentations have raised considerable funds to help
disadvantaged young people.

The Board of FTT believes that Richard will bring a wealth of relevant
experience and extensive technology sector knowledge to the Board.

There are no matters to be disclosed under Chapters 6F 2(b) to (g) inclusive of
the Listing Rules in respect of the appointment.

For and on behalf of the Board

M POPE

Close Finsbury Asset Management Limited

Company Secretary

For further information please contact:

David Quysner, Finsbury Technology Trust PLC 020 7534 1515

Mark Pope, Close Investments Limited 020 7426 6219

Richard Killingbeck, Close Investments Limited 020 7426 6240