Transaction in Own Shares

Finsbury Growth & Income Trust PLC
04 January 2005

                                                                    NEWS RELEASE
                                                                  4 January 2005

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

                   SALE OF COMPANY'S OWN SHARES FROM TREASURY


Notification is given pursuant to the authority granted at the Extraordinary
General Meeting of the Company held on 14 October 2004 to sell shares held by
the Company as treasury shares up to an aggregate nominal value of £912,106, or,
if less, the number representing 10 per cent. of the issued ordinary share
capital of the Company.


That, a market total of 247,178 Ordinary shares of 25p each were sold, in two
tranches of 50,000 and 197,178, by the Company on 4 January 2005 from the shares
held in treasury at a price of 222.50p per share which equates to an estimated
discount to net asset value at the time of sale of 3.03%.


The resultant total number of Ordinary shares held in treasury by the Company is
nil.  The number of Ordinary shares that the Company has in issue, less the
total number of Ordinary shares held by the Company in treasury following such
sale, is 38,456,430.


For and on behalf of

Close Finsbury Asset Management Limited

Company Secretary


For further information, please contact:


Alastair Smith

Close Finsbury Asset Management Limited

Tel: [phone]


Tracey Lago

Close Finsbury Asset Management Limited

Tel: [phone]



Nick Train

Lindsell Train Limited

Tel: [phone]


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