Dividend Declaration

Glasgow Income Trust PLC
22 February 2001

News Release

22 February 2001



                           GLASGOW INCOME TRUST PLC

The Board of Glasgow Income Trust plc has declared a first interim dividend of
1.0p per share (1999 - 0.625p per share) in respect of the year to 30
September 2001 payable on 31 May 2001 to shareholders on the register at close
of business on 4 May 2001.

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