Issue of Equity

FINSBURY GROWTH & INCOME TRUST PLC                       

                                8 December 2006                                

Allotment of Ordinary Shares

FINSBURY GROWTH & INCOME TRUST PLC (the "Company") announces the allotment of
570,000 Ordinary shares of 25p each fully paid issued under its block listing
facility.

These shares were issued today at a price of 313.45p per share, which equates
to a premium to the estimated net asset value at the time of transaction of
1.0%. This issue is part of a larger placing agreed with the Company's broker,
Winterflood Investment Trusts.

The net asset value per Ordinary share at the close of business on 7 December
2006 was 309.61p per share.

The Company's issued capital consists of 50,687,423 Ordinary shares of 25p
each, of a 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.

Therefore, the total number of current voting rights in the Company is
50,687,423.

The above figure (50,687,423 Ordinary shares) may be used by shareholders as
the denominator for the calculation by which they will determine if they are
required to notify their interest in, or a change to there interest in, the
Company under the FSA's Disclosure and Transparency Rules.

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Enquiries:

Tracey Lago Close Investments Limited 020 7426 6219