Portfolio Update

Finsbury Growth & Income Trust PLC
04 October 2004



                                                                  4 October 2004





               FINSBURY GROWTH & INCOME TRUST PLC
                         (the 'Company')





               QUARTERLY STATEMENT OF INVESTMENTS





In compliance with the Listing Rules - Chapter 21 Investment Entities (I)(ii),
the Company discloses the following:



  • Investments valuing greater than 5% of the Company's gross assets comprise
    the following:


Company Name                                                        Value of Investment at      % of Total
                                                                                            Portfolio  Assets
                                                                      30 September 2004
Glenmorangie 'A' Ord                                                      7,791,000                8.71
Cadbury Schweppes Ord                                                     6,885,000                7.70
Wolverhampton & Dudley Breweries                                          6,772,874                7.57
Barr (AG) Ord                                                             6,310,050                7.05
Halifax Non Cum Pref                                                      5,642,623                6.31
HBOS Ord                                                                  5,408,500                6.05
Shell Transport & Trading Ord                                             4,929,051                5.51
Glenmorangie 'B'                                                          4,883,339                5.46





  • The ten largest investments held by the Company comprise the following:


Company Name                                                         Value of Investment at      % of Total
                                                                                              Portfolio Assets
                                                                   30 September 2004

Glenmorangie 'A' Ord                                                       7,791,000                8.71
Cadbury Schweppes Ord                                                      6,885,000                7.70
Wolverhampton & Dudley Breweries                                           6,772,874                7.57
Barr (AG) Ord                                                              6,310,050                7.05
Halifax Non Cum Pref                                                       5,642,623                6.31
HBOS Ord                                                                   5,408,500                6.05
Shell Transport & Trading Ord                                              4,929,051                5.51
Glenmorangie 'B'                                                           4,883,339                5.46
Manchester United FC Ord                                                   4,340,195                4.85
Bradford & Bingley Ord                                                     4,282,500                4.79







                                    - ENDS -



For further information please contact:

Tracey Lago, Company Secretary

Close Finsbury Asset Management Limited

Telephone: [phone]


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