Additional Listing

Glasgow Income Trust PLC
29 October 2003



ANNOUNCEMENT

Potential Enlargement of Glasgow Income Trust plc


The Board of Glasgow Income Trust plc (the "Company") announces that it is
considering an issue of additional ordinary shares of the Company to both
existing shareholders and new investors. Such ordinary shares would, if the
issue is completed, be issued at a price that provides an uplift to the net
asset value of the existing Ordinary shares.

The issue as envisaged would require the approval of the Company's existing
shareholders. A further announcement will be made in due course.


Enquiries:

Glasgow Investment Managers Limited

David Williams/Susan Murray

Tel: [phone]

Close Brothers Securities

Nathan Brown

Tel: [phone]






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