Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 30 April 2013 and unaudited.

Performance at month end with net income reinvested

                                  One   Three    One   Since   Three   Five
                                month  months   year 1 April   years  years 
                                                        2012
Sterling:

Share price                     -0.5%    0.6%  21.5%   22.0%  26.9%  10.2%
Net asset value                 -0.2%    2.2%  14.1%   14.0%  23.2%   8.9%
FSTE All-Share Total Return      0.6%    4.3%  17.8%   17.4%  31.3%  31.1%

Sources: BlackRock and Datastream

BlackRock took over the investment management of the Company with effect from 1
April 2012.

At month end

Sterling:

Net asset value - capital only:   154.60p
Net asset value - cum income*:    157.45p
Share price:                      154.25p
Total assets (including income):   £44.1m
Discount to cum-income NAV:          2.0%
Gearing:                             4.8%
Net yield**:                         3.4%
Ordinary shares in issue***:   28,009,268

* includes net revenue of 2.85 pence per share

** based on final dividend of 3.45p per share in respect of the year ended 31
October 2012 and interim dividend of 1.80p per share in respect of the year
ended 31 October 2012.

*** excludes 4,924,664 shares held in treasury

Benchmark

Sector Analysis                      Total assets(%)

Banks                                           13.6
Oil & Gas Producers                             12.8
Pharmaceuticals & Biotechnology                 10.2
Tobacco                                          9.3
Non-Life Insurance                               5.8
Mobile Telecommunications                        5.6
Life Insurance                                   4.4
Mining                                           4.3
Media                                            4.2
Financial Services                               3.7
Travel & Leisure                                 3.5
Electronic & Electrical Equipment                3.4
Food Producers                                   3.3
Support Services                                 2.8
General Retailers                                2.8
Beverages                                        2.8
Gas, Water & Multiutilities                      2.5
Real Estate Investment & services                2.2
Software & Computer Services                     1.4
Non-Equity Investment Instruments                1.0
General Industrials                              1.0
Household Goods & Home Construction              0.7
Net Current Liabilities                        (1.3)

Total                                         100.00
                                              ------
Ten Largest Equity Investments

Company                            % of Total assets

HSBC                                             8.9
Royal Dutch Shell B                              7.6
British American Tobacco                         6.3
Vodafone                                         5.8
GlaxoSmithKline                                  5.7
Tate & Lyle                                      3.5
Shire                                            3.4
Imperial Tobacco                                 3.4
Admiral Group                                    2.9
Barclays                                         2.9

Commenting on the markets, Adam Avigdori, representing the Investment Manager
noted:

Markets

The FTSE All-Share Index posted its eleventh consecutive month of positive
returns over the month and performed in-line with global equity markets.
During April, defensives (health care, telecoms & utilities) and financials had
the greatest positive impact on market returns.

Portfolio Performance

The portfolio returned -0.2% over the month, lagging the FTSE All-Share Index
return of +0.6%.

The main detractor to relative returns came from the portfolio's holding of
Tullow Oil, which failed to find oil in its "Priodontes" well in French Guiana;
this had been flagged as one of its more exciting prospects. The recent run of
poor drilling results has eroded the exploration premium in the share price,
although we believe that significant opportunity remains from the exploration
in Kenya and other exploration wells to be drilled later this year. Spectris,
the instrumentation and controls provider, released a first quarter trading
update that highlighted weak trading across all regions but believes customer
order deferrals do not represent cancellations and still anticipates revenue
growth for the full year. Ladbrokes announced poor trading in the first quarter
in both Retail and Digital, a disappointing development for the group's online
interests and consensus earnings estimates were subsequently downgraded.

Carphone Warehouse was the main contributor to portfolio returns after
announcing the buyout of its joint venture partner, Best Buy, and stronger than
expected revenues from its UK operations. Capital & Counties, owner of Covent
Garden and Earls Court, continued to perform well following the strong increase
in asset values announced in February, benefiting from the continued strength
of the London commercial property market. Pennon Group shares performed well as
utilities were amongst the best performers in the market. Media group UBM
recovered after lagging in March, with investors reassured that there are no
structural pressures in the events business and forward bookings signalling
that the outlook should match full year expectations.

Exposure to the resources sectors has been significantly reduced with the
positions in Tullow Oil, Soco international, Antofagasta, having been trimmed
so that the underweight exposure now better reflects our conviction in the
positions that have been retained, and has reduced the portfolio's exposure to
commodity prices. With quantitative easing ongoing we see asset gatherers
continuing to do well and have added to the position in Legal & General, which
has a premium yield that is growing strongly and is winning market share in
annuities, and initiated a holding in investment manager Hargreaves Lansdown,
which continues to report strong growth in assets. With the US housing market
improving we have also added to holdings of Wolseley and Ashtead Group.

Outlook

Recent data has suggested an improved economic outlook, particularly in the US
where manufacturing and construction related activity have picked up from a low
base. Meanwhile, lower - though still positive - rates of growth in emerging
markets are putting pressure on the business models of resource companies,
particularly those that had relied on rapid commodity price appreciation.
Equity valuations have been lifted by a downward reassessment of risk levels in
equity investment given higher levels of inflation and lower bond yields. In
the current economic environment we retain our preference for companies with
high quality franchises that can still prosper through exposure to growth
markets and we believe that the earnings of UK companies can still grow due to
their exposure to these international markets. Markets seem to be no longer
dominated by a simple "risk-on, risk-off" trading mentality and it appears that
risk-taking is now being rewarded on a more fundamental basis.

16 May 2013