Portfolio Update

10 July 2007

                      FINSBURY GROWTH & INCOME TRUST PLC                       

                                (the "Company")                                

                      QUARTERLY STATEMENT OF INVESTMENTS                       

In compliance with the Listing Rules - Chapter 21 Investment Entities (I)(ii),
the Company discloses the following:

  * Investments valuing greater than 5% of the Company's gross assets comprise
    the following:
   
Company Name                                Value of Investment    % of Total  
                                                     at            Portfolio   
                                                                     Assets    
                                                30 June 2007                   
                                                                               
HBOS                                        20,798,624           10.57         
                                                                               
CADBURY SCHWEPPES                           15,168,139           7.71          
                                                                               
DIAGEO ORD                                  15,037,019           7.64          
                                                                               
MARSTON'S ORD GBP0.07375                    12,451,111           6.33          
                                                                               
BARR (AG) ORD GBP0.25                       11,445,400           5.81          

  * The ten largest investments held by the Company comprise the following:
   
Company Name                           Value of Investment  % of Total  
                                               at            Portfolio  
                                                              Assets    
                                          30 June 2007                  
                                                                        
HBOS                                   20,798,624          10.57        
                                                                        
CADBURY SCHWEPPES                      15,168,139          7.71         
                                                                        
DIAGEO ORD                             15,037,019          7.64         
                                                                        
MARSTON'S ORD GBP0.07375               12,451,111          6.33         
                                                                        
BARR (AG) ORD GBP0.25                  11,445,400          5.81         
                                                                        
UNILEVER PLC ORD GBP0.0311             11,065,180          5.62         
                                                                        
REUTERS                                9,418,085           4.78         
                                                                        
PEARSON ORD GBP0.25                    9,282,665           4.72         
                                                                        
LLOYDS TSB GROUP ORD                   9,229,600           4.69         
                                                                        
REED ELSEVIER ORD GBP0.125             8,313,020           4.22         

For further information please contact:

Mark Pope, Company Secretary

Frostrow Capital LLP

Telephone: [phone]