EGM Statement

Glasgow Income Trust PLC
30 November 2005


                               
                            GLASGOW INCOME TRUST PLC

                     Result of EGM held on 30 November 2005

At an Extraordinary General Meeting held today, convened by a circular sent to
shareholders of the Company on 7 November 2005 in connection with the proposed
issue of further ordinary shares in the Company and annual renewal of the
authority to allot shares, the special resolution to approve the increase in the
Company's authorised share capital and to authorise the allotment of shares was
passed.

As a result of current market conditions, the Directors have been advised that
it is now unlikely that the minimum scale of the Issue (£7 million) would be
achieved and accordingly the Board has resolved not to proceed with the offer
for subscription at this time.

Pursuant to paragraph 9.6.2 of the Listing Rules, a copy of the special
resolution will shortly be available for inspection at the FSA's Document
Viewing Facility, which is situated at:

UK Listing Authority
The Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

Enquiries:
Mike Balfour
Glasgow Investment Managers Limited
0141 572 2700

Nigel Russell
G&N Collective Funds Services Limited
0131 226 4411






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