Novation of Contract

8 February 2007

                         FINSBURY TECHNOLOGY TRUST PLC                         

                                (the "Company")                                

It is announced that following a transfer of business by the Company's
Investment Manager, from Close Finsbury Asset Management Limited to Close
Investments Limited in September 2006, the Company has, with effect from 7
February 2007, novated its management contract to the new entity of Close
Investments Limited, on the same terms and conditions.

Further information:

Mark Pope - 020 7426 6294

Company Secretary