Issue of Equity

Finsbury Growth & Income Trust PLC
10 October 2006

                         FINSBURY GROWTH & INCOME TRUST PLC

                                10 October 2006


Allotment of Ordinary Shares

FINSBURY GROWTH & INCOME TRUST PLC (the 'Company') announces the allotment of
50,000 Ordinary shares of 25p each fully paid under its block listing facility.

These shares were issued today at a price of 301.5p per share, which equates to
a premium to the estimated net asset value at the time of transaction of 1.5%.

The net asset value per Ordinary share at the close of business on 9 October
2006 was 296.41p per share.

The total issued share capital of the Company is now 49,446,573 Ordinary shares
of 25p each.

                                    - Ends -

Enquiries:

Tracey Lago                 Close Investments Limited            020 7426 6219


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