Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                16 January 2007                                

Allotment of Ordinary Shares

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
50,000 Ordinary shares of 25p each fully paid issued under its block listing
facility.

These shares were issued today at a price of 325.70p per share, which equates
to a premium to the estimated net asset value at the time of transaction of
1.51%.

The net asset value per Ordinary share at the close of business on 15 January
2007 was 321.02p per share.

The total issued share capital of the Company is now 50,987,423 Ordinary shares
of 25p each.

Enquiries:

Tracey Lago

Close Investments Limited

Tel: [phone]