Issue of Equity - Replacement

Finsbury Growth & Income Trust PLC
04 January 2006

                THIS IS A REPLACEMENT ANNOUNCEMENT TO RNS 4557W

PREVIOUSLY STATED NAV AS AT 3 JANUARY 2006 WAS INCORRECT AT 272.95P PER SHARE ,
                         SHOULD READ 271.95P PER SHARE.


                       FINSBURY GROWTH & INCOME TRUST PLC

                                 4 January 2006



Allotment of Ordinary Shares


FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
200,000 Ordinary shares of 25p each fully paid under its block listing facility.

These shares were issued today at a price of 276.0p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 1.6%.

The net asset value per Ordinary share at the close of business on 3 January
2006 was 271.95p per share.

The total issued share capital of the Company is now 46,981,573 Ordinary shares
of 25p each.


                                    - Ends -


Enquiries:


Alastair Smith              Close Finsbury Asset Management Ltd 020 7426 6240

Tracey Lago                 Close Finsbury Asset Management Ltd 020 7426 6219


                      This information is provided by RNS
            The company news service from the London Stock Exchange              GUPQGQC