The following Net Asset Values (NAVs) for Framlington Income & Capital Trust
PLC are released by AXA Framlington Investment Management Limited as at 15
January 2007.

Capital NAV                                                                
                                                                           
at Mid valuation - Prior charges at par                             292.84p
                                                                           
at Bid valuation - Prior charges at par                             291.62p
                                                                           
Income NAV (Restated for changes in UK                                     
accounting standards)                                                      
                                                                           
at Mid valuation - Prior charges at par                              31.01p
                                                                           
at Bid valuation - Prior charges at par                              31.01p
                                                                           
Total Fund Value (at Mid valuation inc.                        �118,344,208
revenue)                                                                   



END



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