Top 10 Holdings

Glasgow Income Trust PLC
03 January 2007


3 January 2007



GLASGOW INCOME TRUST PLC



In accordance with UKLA Listing Rule 21.20 (1) (ii), Glasgow Income Trust PLC
announces that at 31 December 2006 the ten largest investments held were as
follows:

Company                                            £     % of

                                                     Total Assets

Rentokil Initial (includes fixed           5,330,150      3.1
interest stocks)
BAE Systems 7.75% Cum Conv Pref Shares     4,981,250      2.9
Intercontinental Hotels                    4,413,500      2.5
Speedy Hire Ord                            4,274,200      2.5
Gallaher Group Ord                         4,240,200      2.4
Lloyds TSB Group (includes fixed           4,185,915      2.4
interest stocks)
Wolverhampton & Dudley                     3,973,794      2.3
Balfour Beatty (includes fixed             3,844,001      2.2
interest stocks)
HSBC (includes fixed interest stocks)      3,827,482      2.2
Firstgroup Ord                             3,734,250      2.1



Glasgow Income Trust plc is managed by Glasgow Investment Managers Limited



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