Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                  5 May 2011                                   

                         Allotment of Ordinary Shares                          

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
30,000 Ordinary shares of 25p each fully paid.

These shares were issued today at a price of 335.75p per share, which equates
to a premium to the estimated cum income net asset value at the time of
transaction of 0.6%.

The cum income net asset value per Ordinary share at the close of business on 4
May 2011 was 336.99p per share.

Following this transaction and in conformity with the Transparency Directive's
transitional provision 6 the Company hereby notifies the market that the total
number of Ordinary shares that the Company has in issue is 54,312,423 Ordinary
shares of 25p each, of the total authorised capital of 100,000,000 Ordinary
shares of 25p each all with voting rights. No shares were held in treasury at
the date of announcement.

The figure of 54,312,423 may be used by shareholders as the denominator for the
calculation by which they may determine if they are required to notify their
interest in, or change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

Enquiries:

Mark Pope

Frostrow Capital LLP

Tel: [phone]