Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                6 December 2006                                

Allotment of Ordinary Shares

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
75,000 Ordinary shares of 25p each fully paid issued under its block listing
facility.

These shares were issued today at a price of 312.5p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 1.5%.

The net asset value per Ordinary share at the close of business on 5 December
2006 was 306.51p per share.

The total issued share capital of the Company is now 50,117,423 Ordinary shares
of 25p each.

                                   - Ends -                                    

Enquiries:

Tracey Lago Close Investments Limited 020 7426 6219