Quarterly Disclosure

Finsbury Growth Trust PLC
05 January 2004

                       FINSBURY GROWTH 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
                                                                       31December 2003      Portfolio  Assets
Cadbury Schweppes                                                         6,646,050                8.25
Wolverhampton & Dudley Breweries                                          5,876,688                7.29
Halifax Non Cum Pref                                                      5,657,054                7.02
HBOS Ord                                                                  5,607,125                6.96
Barr (AG) Ord                                                             5,207,072                6.46
Manchester United FC Ord                                                  4,830,059                5.99
Bradford & Bingley Ord                                                    4,575,000                5.68


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


Company Name                                                         Value of Investment at      % of Total
                                                                   31 December 2003           Portfolio Assets

Cadbury Schweppes                                                          6,646,050                8.25
Wolverhampton & Dudley Breweries                                           5,876,688                7.29
Halifax Non Cum Pref                                                       5,657,054                7.02
HBOS Ord                                                                   5,607,125                6.96
Barr (AG) Ord                                                              5,207,072                6.46
Manchester United FC Ord                                                   4,830,059                5.99
Bradford & Bingley Ord                                                     4,575,000                5.68
Glenmorangie 'A' Ord                                                       3,795,000                4.71
Vodafone Group Ord                                                         3,479,685                4.32
Shell Transport & Trading Ord                                              3,284,731                4.08


                                    - ENDS -

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


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