Major Interests in Shares

Glasgow Income Trust PLC
09 May 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: Adam & Company (Nominees) Ltd a/c AIM, Nortrust
Nominees Ltd

5. Number of shares / amount of stock acquired: Not disclosed

6. Percentage of issued class: Not disclosed

7. Number of shares / amount of stock disposed

8. Percentage of issued class

9. Class of security: Ordinary 25p shares

10. Date of transaction: 4 May 2005

11. Date company informed: 5 May 2005

12. Total holding following this notification: 7,319,191

13. Total percentage holding of issued class following this notification: 10.23%

14. Any additional information

15. Name of contact and telephone number for queries: Fiona McLean 0141 572 2700

16. Name and signature of authorised company official responsible for making
this notification: Graeme McDonald

Date of notification: 9 May 2005

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document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
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