Portfolio Update

Finsbury Growth & Income Trust PLC
05 January 2005



                                                                  5 January 2005



                    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
                                                                      31 December  2004
Wolverhampton & Dudley Breweries                                          8,374,567                8.04
Glenmorangie 'A' Ord                                                      8,330,000                8.00
Cadbury Schweppes Ord                                                     7,857,000                7.55
Barr (AG) Ord                                                             7,102,125                6.82
Halifax Non Cum Pref                                                      6,224,854                5.98
HBOS Ord                                                                  6,148,000                5.91
Shell Transport & Trading Ord                                             5,397,038                5.18





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


Company Name                                                         Value of Investment at      % of Total
                                                                                              Portfolio Assets
                                                                   31 December 2004

Wolverhampton & Dudley Breweries                                           8,374,567                8.04
Glenmorangie 'A' Ord                                                       8,330,000                8.00
Cadbury Schweppes Ord                                                      7,857,000                7.55
Barr (AG) Ord                                                              7,102,125                6.82
Halifax Non Cum Pref                                                       6,224,854                5.98
HBOS Ord                                                                   6,148,000                5.91
Shell Transport & Trading Ord                                              5,397,038                5.18
Reuters Group Ord                                                          5,067,938                4.87
Bradford & Bingley Ord                                                     5,036,250                4.84
Manchester United FC Ord                                                   4,654,398                4.47



                                    - ENDS -


For further information please contact:
Tracey Lago, Company Secretary
Close Finsbury Asset Management Limited
Telephone: [phone]




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            The company news service from the London Stock Exchange          ELFBEFBEBBK