Additional Listing

Glasgow Income Trust PLC
04 May 2005


                    Glasgow Income Trust plc (the "Company")

                    Announcement of Admission of New Shares

The Company refers to the placing and offer for subscription of further ordinary
shares in the Company, details of which were set out in a prospectus which was
published by the Company on 18 April 2005.

The Company announces that 20,982,356 further ordinary shares in the Company
will be listed and admitted to trading on the main market of the London Stock
Exchange with effect from the commencement of trading on 5 May 2005.

Glasgow Income Trust plc is managed by Glasgow Investment Managers Limited.

Enquiries: Graeme McDonald/Kenneth Harper
Glasgow Investment Managers Ltd
0141 572 2700
4 May 2005



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