Final Results-Replacement

Finsbury Technology Trust PLC
25 February 2000

The issuer has made the following amendment to the 'Final Results' announcement
released today at 10:51 under RNS No 2171G.

The contact number for Dr. Andrew Clark should read [phone].

The full corrected version is shown below.
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PRELIMINARY RESULTS FOR THE YEAR ENDED 30 NOVEMBER 1999

Finsbury  Technology Trust PLC, which invests principally
in equity securities of quoted technology companies on  a
world-wide basis, today announces preliminary results for
the year ended 30 November 1999.


                                   1999      1998  % change
                                                           
Total   return  per   ordinary   221.9p     18.5p  +1,099.5
share                                                     %
Net assets per ordinary share    363.4p    141.6p   +156.6%
MSCI   World  Index  (sterling    1,983     1,596    +24.2%
adjusted   without   dividends
reinvested

The  Net  Asset  Value per share on 31 January  2000  was
470.5p.

The  Company has not generated significant income and the
Directors  are  not  proposing a dividend  for  the  year
(1998: nil).


For and on behalf of Rea Brothers Limited - Secretary

24 February 2000

The following are attached:

*    Chairman's Statement
*    Balance Sheet of the Group and of the Company
*    Consolidated Statement of Total Return
*    Notes to the Preliminary Results

For further information please contact:

Dr Andrew Clark, Reabourne Ltd          [phone]
Colin Edge, Finsbury Asset Management   [phone]
Mark Mathias, Finsbury Asset Management [phone]
Neil Mainland, Financial Dynamics       [phone]
Chairman's Statement

Results

The year ended 30 November 1999 was a spectacular one for
the  Trust  with  the Net Asset Value per  share  ('NAV')
rising from 141.6p to 363.4p, an increase of 156.6%  over
the  year.  In the same period, the benchmark index,  the
Morgan   Stanley   Capital  International   World   Index
(sterling  adjusted  and  without dividends  reinvested),
increased  by  24.2%.   Since the fund  was  launched  in
December 1995 the NAV has risen by 274.6% against a  rise
of  75.4% in the benchmark index.  Shortly after the year
end  Standard & Poor's Micropal calculated that  Finsbury
Technology was the best performing investment trust  over
3 years.

The  Board  has  been  concerned at  the  high  level  of
discount between the Trust's NAV and the share price.  It
is pleasing to note that as at 30 November 1999 the share
price  had  increased  from 108.5p  to  346.5p  with  the
discount narrowing from 23.4% to 4.7%.  On the day before
this statement the published share price was at a premium
to NAV.

Dividends

The  companies  within  the Trust's  portfolio  typically
provide  a very low yield. No dividend has been  declared
in respect of the year ended 30 November 1999 (1998: nil)
and  it is unlikely that a dividend will be paid for  the
foreseeable future.

Review

During  1999 the technology sector was dominated  by  the
continuing explosive growth of the internet.  Whilst  the
internet   provides  enormous  opportunities  we   remain
unconvinced  by  the  valuations  being  placed  on  many
companies.  Our  Investment Advisers take  a  fundamental
approach  to  stock picking and focus on  companies  with
good long term growth potential. We have therefore tended
to  avoid electronic retailers, which we believe will  be
open  to  significant  competitive  pressures,  and  have
instead  concentrated  on  companies  which  provide  the
infrastructure to the internet such as Cisco, Verity  and
Intelligent Environments.

After  years  of  extensive research  many  biotechnology
companies   have  either  obtained  approval  for   their
products  or  are  in late stage trials.  These  improved
prospects  have led to a re-rating of the sector  in  the
US.  In Europe the biotechnology rally started later  and
was  less  emphatic  but  many  stocks  have  still  seen
impressive   gains.   Our   most  successful   bioscience
investment  was  Aortech  which  has  now  obtained   FDA
approval   for  its  cardiac  output  monitoring   device
technology; its share price increased fivefold  over  the
year.  We believe that our other holdings in the  sector,
such  as  Celltech,  Proteome and  Teva  also  have  good
prospects.

It is gratifying that many of the Trust's best performing
investments  over the year were based in the UK.  Stellar
performers  included Aortech (up 503%), ARM Holdings  (up
1,020%),  Intelligent Environments (up 606%),  Psion  (up
443%) and Recognition Systems (up 4,113%).

The  boom in technology has continued since the year  end
and  at  31  January 2000, the Trust's NAV had  risen  to
470.5p per share.

Outlook

1999 was a remarkable year for the technology sector  and
in the first two months of 2000 there has continued to be
strong  performance. However the wall of money which  has
been   invested  in  the  sector  has  resulted  in  some
indiscriminate   buying   and   many   stocks   are    on
stratospheric valuations, which provide little,  if  any,
cushioning  against missed targets. Whilst there  may  be
some  volatility  over  the next  year,  we  continue  to
believe  that  the  long term case for investing  in  the
sector   remains  strong.  The  last  century  saw   more
technological advancement than any other in  the  history
of  mankind.  With  the internet still  in  its  relative
infancy  (particularly in Europe), the growth  of  mobile
communications, and the potentially stunning achievements
of  biotechnology, we have every reason to  believe  that
the  twenty-first century will be every bit as innovative
as the twentieth.





Bryan Lenygon
Chairman
24 February 2000


Finsbury Technology Trust PLC

Consolidated Statement of Total Return
incorporating the revenue account for the year ended 30
November 1999

                    Revenue  Capital    Total   Revenue  Capital  Total
                       1999    1999     1999       1998  1998     1998
                       £000    £000     £000       £000  £000     £000
                                                               
                                                               
Gains/(losses) on         -   73,293    73,293        -   5,323  5,323
investments
Exchange gains on         -       24       24         -     101    101
currency balances
Investment Income       108        -      108       117       -    117
Other income            475        -      475       122       -    122
Investment management  (729) (13,973)  (14,702)    (380)    (17)  (397)
fees                            
Other expenses         (278)       -     (278)     (203)      -   (203)
                                                               
                                                               
Net return before      (424)  59,344    58,920     (344)  5,407  5,063
finance
costs and taxation
Interest payable        (28)       -      (28)     (137)      -   (137)
and similar charges
Return on ordinary     (452)  59,344    58,892     (481)  5,407  4,926
activities before
taxation
Taxation on ordinary     (9)       -       (9)      (18)      -    (18)
activities
                                                               
                                                               
Return on ordinary      (461) 59,344    58,883     (499)  5,407  4,908
activities after
taxation
Dividends in respect      -      -      -        -     -      -
of equity shares
                                                               
                                                               
Transfer to/(from)      (461) 59,344    58,883     (499)  5,407  4,908
reserves
                                                               
                                                               
Return per equity       (1.7p) 223.6p    221.9p   (1.9p)   20.4p  18.5p
share
                                                               

Finsbury Technology Trust PLC

Balance Sheet of the                                 
Group and of the Company
as at 30 November 1999                               
                           Group     Group    Company    Company
                            1999      1998      1999      1998
                           £'000     £'000     £'000     £'000
                                                        
Fixed Asset Investments                                 
Investment in subsidiary                                
undertaking                    -         -       376         76
Other investments        104,309    37,385   104,309     37,385
                                                        
                         104,309    37,385   104,685     37,461
                                                        
Current Assets                                          
Debtors                    1,495       884      1,345       928
Investments                    6       125          -         -
Cash at Bank               7,393       447      7,393       447
                                                        
                           8,894     1,456      8,738     1,375
                                                        
Creditors                                               
Amounts falling due       (9,840)   (1,088)   (10,060)   (1,083)
within one year               
Net current liabilities     (946)      368     (1,322)      292
                                            
Total assets less        103,363    37,753    103,363    37,753
current liabilities           
                                                        
Creditors                                               
Amounts falling due       (6,908)     (181)    (6,908)     (181)
after more than one year      
Net current assets        96,455    37,572     96,455     37,572
                                                        
Capital and reserves                                    
Called up share capital    6,635     6,635      6,635      6,635
Share premium account     19,095    19,095     19,095     19,095
Capital reserve -         19,059    10,763     19,059     10,763
realised
Capital reserve -         53,230     2,182     53,606      2,258
unrealised
Revenue reserve           (1,564)   (1,103)    (1,940)    (1,179)
                                                        
Total shareholders'       96,455    37,572     96,455     37,572
funds
                                                        
Net asset value per       363.4p     141.6p     363.4p    141.6p
ordinary share





Notes to the Preliminary Results

These  accounts  are not statutory accounts.   The  above
results  are  an  abridged version  of  the  full  annual
accounts  for the year ended 30 November 1999 which  will
be delivered to the Registrar of Companies in due course.

Statutory  accounts for the 12 months ended  30  November
1998  have  been delivered to the Registrar of  Companies
and  received  an audit report which was unqualified  and
did  not contain statements under Section 237 (2) and (3)
of the Companies Act 1985.

There were 26,539,250 (1998: 26,539,250) ordinary shares
of 25p in issue throughout the year.


Rea Brothers Limited - Secretary
24 February 2000