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Fins Growth Inc Tst (FGT)

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Friday 19 February, 2010

Fins Growth Inc Tst

Dividend Declaration

                                                                   NEWS RELEASE

                                                               19 February 2010

              FINSBURY GROWTH & INCOME TRUST PLC (`the Company')               

    First and second Interim Dividend for the year ending 30 September 2010    

Following the announcement of the rise in the top rate of income tax for the
coming financial year, the Company has resolved to bring forward the first
interim dividend to the current tax year. Accordingly, an unchanged first
interim dividend of 4.4p per share will be paid on 1 April 2010, to holders on
the register on 5 March 2010. The associated ex dividend date will be 3 March

 In the Chairman's last statement to shareholders he warned that revenue for
the year to 30 September 2010 might be insufficient to cover an unchanged total
dividend, and this is proving to be the case. The Company has distributable
reserves, and the board has resolved to use some of these to make up part of
the shortfall.

 On the information before the Company, the board has concluded that a second
interim dividend of 4.4p per share (2009: 5.1p), for a total expected payment
of 8.8p per share (2009: 9.5p) for the year to 30 September 2010, will best
balance the aspiration of predictable income for shareholders against the
difficulty in forecasting future dividends. The ex dividend date for the
expected second interim dividend of 4.4p per share will be 29 September 2010
with an associated record date of 1 October 2010. The Company estimates that
this level of distribution is sustainable, but should the companies in the
portfolio become more cautious when deciding their own dividends, the Company
would have to re-evaluate.

A total dividend for the year ending 30 September 2010 of 8.8p per share would
represent a reduction of 7.4% when compared to the 9.5p per share paid for the
year ended 30 September 2009 and a yield of 3.67% on the basis of the current
share price of 240p. This compares to the current FTSE All-Share yield of

                                    - end -                                    

For further information please contact:

Mark Pope, Company Secretary

Frostrow Capital LLP

Telephone 020 3 008 4913