The following Net Asset Values (NAVs) for Framlington Income & Capital Trust
PLC are released by AXA Framlington Investment Management Limited as at 25
September 2008.

Capital NAV*                                                               
                                                                           
at Mid valuation - Prior charges at par                             172.99p
                                                                           
at Bid valuation - Prior charges at par                             172.98p
                                                                           
Income NAV (Restated for changes in UK accounting                          
standards)                                                                 
                                                                           
at Mid valuation - Prior charges at par                              30.18p
                                                                           
- at Mid valuation - Prior charges at Par (inc.                      30.38p
revenue)                                                                   
                                                                           
at Bid valuation - Prior charges at par                              30.18p
                                                                           
- at Bid valuation - Prior charges at Par (inc.                      30.38p
revenue)                                                                   
                                                                           
Total Fund Value (at Bid valuation inc. revenue)                �87,644,568

*After providing for liquidation costs

The cash and near cash equivalents position at 25 September 2008 was
approximately
�88 million.



END



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