Transaction in Own Shares

NEWS RELEASE

                                                                    24 May 2010

                      FINSBURY GROWTH & INCOME TRUST PLC                       

                                (the "Company")                                

                  SALE OF COMPANY'S OWN SHARES FROM TREASURY                   

This notification is given pursuant to the authority granted at the Annual
General Meeting of the Company held on 27 January 2010 to sell shares held by
the Company as treasury shares up to an aggregate nominal value of £1,258,472,
representing 10 per cent. of the issued ordinary share capital of the Company.

The Company sold a market total of 400,000 Ordinary shares of 25p each on 24
May 2010 from the shares held in treasury at a price of 259.50p per share which
equates to an estimated discount to net asset value at the time of sale of
3.2%.

The resultant total number of Ordinary shares now held in treasury by the
Company is 803,011. The total number of Ordinary shares that the Company has in
issue is 52,797,423, so that the total number of voting rights in the Company
following such sale is 51,994,412.

For and on behalf of

Frostrow Capital LLP

Company Secretary

For further information, please contact:

Mark Pope

Frostrow Capital LLP

Tel: [phone]