Interim Management Statement

FINSBURY GROWTH & INCOME TRUST PLC                       

      Interim Management Statement - 3 months to 30 June 2009 (unaudited)      

Finsbury Growth & Income Trust PLC invests in the shares of UK listed companies
with the objective of achieving capital and income growth and providing a total
return in excess of that of the FTSE All-Share Index.

The 3 month period ended 30 June 2009 was a positive one for markets. The
Company's diluted net asset value per share rose by 11.3% and the share price
by 13.0%, during the three month period as the discount of share price to
diluted net asset value per share narrowed to 2.4% at the period end. The
Company's benchmark, the FTSE All-Share Index, measured on a total return
basis, rose by 10.9% over the same period. Post the period end, to 10 August
2009, the Company's diluted net asset value per share rose by 11.7% and the
share price by 9.2%. The Company's benchmark, the FTSE All-Share Index,
measured on a total return basis, rose by 11.8%.

The Company paid a first interim dividend of 4.4p per share (first interim
dividend 2008: 4.4p per share) on 6 May 2009 in respect the year ending 30
September 2009.

During the 3 month period the Company bought back 40,000 shares, to be held in
treasury, at a cost of £74,000 (including expenses) and at a discount of 6.6%.
During this period a total of 535,000 shares were reissued from treasury at an
average discount of 3.9% raising £1,066,000. Following the period end, to 10
August 2009, the Company has reissued from treasury a total of 450,000 shares
at an average discount of 3.9%, raising £896,000. The Company also bought back
222,500 shares to be held in treasury at a cost of £462,000 at a discount of
6.1%. As at 10 August the Company had 52,797,423 shares in issue, of which
1,820,750 shares were held in treasury.

Trust Characteristics

                                 30 June 2009              31 March 2009       
                                                                               
Number of holdings                    22                         23            
                                                                               
Net assets (£m)                      99.1                       90.9           
                                                                               
Net yield                            5.0%                       5.5%           
                                                                               
Gearing (AIC basis)                   114                       114            
                                                                               
Share price (p)                     190.50                     173.00          
                                                                               
NAV (p) (undiluted for              195.29                     180.91          
                                                                               
treasury shares)                                                               
                                                                               
NAV (p) (diluted for                195.11                     180.53          
                                                                               
treasury shares)                                                               
                                                                               
Discount of share price to           2.45%                     4.37%           
NAV (undiluted for                                                             
treasury shares)                                                               
                                                                               
Discount of share price to           2.36%                     4.12%           
NAV (diluted for treasury                                                      
shares)                                                                        

Source: Frostrow Capital LLP

Sector Analysis

                                     % of                       % of           
                                                                               
                             investment portfolio       investment portfolio   
                                                                               
                               at 30 June 2009            at 31 March 2009     
                                                                               
Financials                           13.7                       12.8           
                                                                               
Consumer Services                    26.3                       27.7           
                                                                               
Consumer Goods                       43.4                       44.0           
                                                                               
Technology                           11.5                       10.1           
                                                                               
Oil & Gas                             -                         1.6            
                                                                               
Preference Shares                    5.1                        3.8            
                                                                               
Total                               100.0                      100.0           

Source: Frostrow Capital LLP

10 Largest Investments

Name                                  % of                       % of           
                                                                                
                              investment portfolio       investment portfolio   
                                                                                
                                at 30 June 2009            at 31 March 2009     
                                                                                
Diageo                                11.5                       10.9           
                                                                                
Unilever                              10.1                       9.7            
                                                                                
Barr (AG)                             10.0                       10.4           
                                                                                
Cadbury                               7.0                        7.4            
                                                                                
Lloyds Banking Group                  6.9                        5.2            
                                                                                
Fidessa                               6.5                        5.0            
                                                                                
Pearson                               6.4                        7.8            
                                                                                
Sage                                  5.0                        4.9            
                                                                                
Rathbone Brothers                     4.9                        4.8            
                                                                                
Reed Elsevier                         4.6                        5.3            
                                                                                
Total                                 72.9                       71.4           

Source: Frostrow Capital LLP

Total Return Performance

                1 Month         Year to date    1 Year          3 Years        
                                                                               
Share Price     -5.7%           +2.3%           -8.1%           -23.1%         
                                                                               
NAV per share   -3.8%           +1.6%           -12.0%          -20.7%         
                                                                               
(diluted for                                                                   
                                                                               
treasury                                                                       
shares)                                                                        
                                                                               
Benchmark*      -3.2%           +0.8%           -20.5%          -18.2%         

Source: Fundamental data

* Benchmark - FTSE All-Share Index measured on a total return basis.

Past performance is not a guide to future performance.

This Interim Management Statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.

This Interim Management Statement is available on the Company's website 
www.finsburygt.com.

The Company's Net Asset Value per share is announced daily and is available,
together with the share price, on the TrustNet website at www.trustnet.com

SEDOL Code:

Ordinary Shares - 0781606

For further information contact: Mark Pope on 0203 008 4913

Frostrow Capital LLP

Company Secretary

14 August 2009