Major Interest in Shares

Glasgow Income Trust PLC
17 June 2005


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company: Glasgow Income Trust plc

2. Name of shareholder having a major interest: The Royal Bank of Scotland plc

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18: Non Beneficial Interest

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them: BNY (OCS) Nominees Ltd, Adam & Company (Nominees)
Ltd a/c AIM

5. Number of shares / amount of stock acquired: 208,333 and 385,290

6. Percentage of issued class: 0.75%

7. Number of shares / amount of stock disposed

8. Percentage of issued class

9. Class of security: Ordinary 25p shares

10. Date of transaction: 14 June 2005

11. Date company informed: 16 June 2005

12. Total holding following this notification: 8,603,981

13. Total percentage holding of issued class following this notification: 10.93%

14. Any additional information

15. Name of contact and telephone number for queries: Yvonne Craig 0141 572 2700

16. Name and signature of authorised company official responsible for making
this notification: Cheryl Blair

Date of notification: 17 June 2005

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