Announcement of Issue Price

Glasgow Income Trust PLC
23 November 2006



RIS ANNOUNCEMENT

Glasgow Income Trust PLC

23 November 2006

Issue Price of New Shares

The Board of Glasgow Income Trust PLC (the "Company") refers to the prospectus
(the "Prospectus") published by the  Company on 8 November 2006 in relation to
the proposed issue of new shares (the "New Shares") in connection with a 
placing, an offer for subscription and the proposed scheme of reconstruction
under section 110 of the Insolvency Act  1986 of Gartmore High Income Trust plc
("GHIT"). The issue price of the New Shares to be issued under the placing and 
offer has been calculated on the basis set out in Part 3 of the Prospectus and
will be 98.5p per share.  It is expected  that the issue price in respect of New
Shares to be issued in connection with the scheme (if it is approved by GHIT 
shareholders) will be announced on or around 20 December 2006.

A further announcement will be made on 24 November 2006 as to the aggregate
number of New Shares to be issued under the  placing and offer. The issue of the
New Shares is conditional upon the admission of the New Shares to the Official
List  of the UK Listing Authority and to trading on the main market of the
London Stock Exchange, expected to take place on  27 November 2006.
All enquiries

G&N Collective Funds Services Limited
Tel. [phone]
Graeme Caton
Graham Reaves
Nigel Russell

Glasgow Investment Managers Limited
Tel. [phone]
Mike Balfour
Kenneth Harper






                      This information is provided by RNS
            The company news service from the London Stock Exchange