Issue of Equity

Finsbury Growth & Income Trust PLC
09 October 2006

                        FINSBURY GROWTH & INCOME TRUST PLC

                                 9 October 2006


Allotment of Ordinary Shares


FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
125,000 Ordinary shares of 25p each fully paid under its block listing facility.

These shares were issued today at a price of 301.0p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 2.03%.

The net asset value per Ordinary share at the close of business on 6 October
2006 was 297.46p per share.

The total issued share capital of the Company is now 49,396,573 Ordinary shares
of 25p each.



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Enquiries:

Tracey Lago        Close Investments Limited            020 7426 6219


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