Blocklisting Application

Shires Income PLC
16 December 2004


Shires Income plc

16 December 2004

Block Listing Application


Application has been made to The UK Listing Authority and the London Stock
Exchange for block listings totalling 700,000 Ordinary shares of 50p each to
trade on the London Stock Exchange and to be admitted to the Official List upon
issuance. The shares shall rank pari passu with the existing issued shares of
the Company.

The block listings consist of 300,000 shares to be issued pursuant to the
Glasgow Investment Collection and 400,000 shares to satisfy demand for Shires
Income plc shares in the market from time to time.

Shares will not be issued pursuant to the blocklisting unless at the time of
issue, the price of an existing share exceeds the underlying net asset value of
that share.

Shires Income plc is managed by Glasgow Investment Managers Limited.



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