Result of EGM

Glasgow Income Trust PLC
11 April 2005


                    Glasgow Income Trust plc ("The Company")

                                 Result of EGM
                             Held on 11 April 2005


At an Extraordinary General Meeting held today, in the terms set out in the
circular posted by the Company on 18 March 2005 in connection with a proposed
placing and offer of further ordinary shares in the Company (the "Placing and
Offer") a resolution was passed. Following the passing of this resolution, the
Company now intends to proceed with the Placing and Offer.

A prospectus will be issued in due course which will detail the necessary
actions required in order for potential investors to apply for shares in the
Company.

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


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