Portfolio Update

4 January 2008

                      FINSBURY GROWTH & INCOME TRUST PLC                       

                                (the "Company")                                

                      QUARTERLY STATEMENT OF INVESTMENTS                       

The Company announces that the ten largest investments as at close of business
on 31 December 2007 were as follows:

  * Investments valuing greater than 5% of the Company's gross assets comprise
    the following:
   
Company Name                             Value of Investment    % of Total   
                                                  at             Portfolio   
                                                                  Assets     
                                           31 December 2007                  
                                                                             
HBOS                                          17,065,521      9.7            
                                                                             
DIAGEO                                        15,646,040      8.9            
                                                                             
CADBURY SCHWEPPES                             13,851,111      7.9            
                                                                             
UNILEVER                                 13,310,325           7.6            
                                                                             
MARSTON'S                                     10,349,790      5.9            
                                                                             
BARR (A.G.)                                   9,478,500       5.4            
                                                                             
REED ELSEVIER                                 8,724,492       5.0            

  * The ten largest investments held by the Company comprise the following:
   
Company Name                           Value of Investment  % of Total  
                                               at            Portfolio  
                                                              Assets    
                                        31 December 2007                
                                                                        
HBOS                                       17,065,521      9.7          
                                                                        
DIAGEO                                     15,646,040      8.9          
                                                                        
CADBURY SCHWEPPES                          13,851,111      7.9          
                                                                        
UNILEVER                               13,310,325          7.6          
                                                                        
MARSTON'S                                  10,349,790      5.9          
                                                                        
BARR (A.G.)                                 9,478,500      5.4          
                                                                        
REED ELSEVIER                               8,724,492      5.0          
                                                                        
REUTERS                                8,099,455           4.6          
                                                                        
PEARSON                                8,088,966           4.6          
                                                                        
LLOYDS TSB                             7,831,050           4.5          

For further information please contact:

Mark Pope, Company Secretary

Frostrow Capital LLP

Telephone: [phone]