Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 31 January 2013 and unaudited.

Performance at month end with net income reinvested

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

Share price                 10.8%    14.4%    21.3%   28.1%    34.1%   14.2%
Net asset value              4.9%     6.5%    11.5%   14.9%    30.2%    8.3%
FSTE All-Share Total Return  6.4%     9.3%    12.6%   16.3%    37.0%   31.8%

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:    153.74p
Net asset value - cum income*:     157.48p
Share price:                       156.75p
Total assets (including income):    £44.7m
Discount to cum-income NAV:           0.5%
Gearing:                              5.1%
Net yield**:                          3.3%
Ordinary shares in issue***:    28,379,268

*includes net revenue of 3.74 pence per share.
** based on final dividend of 3.30p per share in respect of the year ended 31
October 2011 and interim dividend of 1.80p per share in respect of the year
ended 31 October 2012.
*** excludes 4,554,664 shares held in treasury.


Benchmark

Sector Analysis           Total assets(%)

Oil & Gas Producers                  15.3
Banks                                13.2
Pharmaceuticals & Biotechnology       8.7
Tobacco                               8.5
Mining                                6.7
Media                                 6.2
Mobile Telecommunications             5.6
Non-Life Insurance                    5.4
Electronic & Electrical Equipment     5.1
General Retailers                     4.9
Life Insurance                        4.4
Food Producers                        3.6
Gas, Water & Multiutilities           2.9
Financial Services                    2.5
Travel & Leisure                      1.9
Support Services                      1.9
Real Estate Investment & Services     1.8
Software & Computer Services          1.4
Technology Hardware & Equipment       0.5
Non-Equity Investment Instruments     0.3
Equity Investment Instruments         0.2
Net Current Liabilities              (1.0)
                                   ------
Total                               100.0
                                   ------


Ten Largest Equity Investments(in alphabetical order)

Company                % of Total assets

British American Tobacco             4.6
GlaxoSmithKline                      3.6
HSBC                                 8.7
Imperial Tobacco                     4.3
Rio Tinto                            3.6
Royal Dutch Shell B                  8.2
Tate & Lyle                          3.8
Tullow Oil                           3.6
UBM                                  3.9
Vodafone                             5.8


Commenting on the markets, Nick McLeod-Clarke & Adam Avigdori, representing the
Investment Manager noted:

Markets

The FTSE All-Share index enjoyed its best start to the year since 1989 with
January being the eighth consecutive positive month for the UK equity market.
Fading sovereign debt risk in the Eurozone and progress on the US fiscal
deficit have helped investors to move back into equities, and to re-price risk.
UK equities outperformed both UK corporate and government bonds, which were
down in absolute terms. Over the month, the market rose strongly with mega cap
companies outperforming. Financials, led by banks, were again the largest
positive contributors to overall market performance, boosted by Basel III
regulation moves that allow banks four more years to strengthen their capital
ratios.

Portfolio Performance

The portfolio underperformed the FTSE All-Share Index during January with a
return of 4.9% compared to the index total return of 6.4%.

The largest detractor from returns was the portfolio's position in Chilean
copper miner Antofagasta, which fell after reporting a disappointing copper
production forecast for 2013. Tullow Oil also reported a marginally
disappointing production forecast. We believe that its exploration pipeline has
been largely ignored, with some 40 wells being drilled this year, including
prospects in Kenya and offshore French Guiana. News that UK retail sales
unexpectedly fell in December as consumer uncertainty extended into the key
Christmas trading season lead to fears of weak trading at retailer Kingfisher.
Tobacco companies Imperial Tobacco and British American Tobacco shares fell
reflecting the continuing move away from companies with defensive earnings.
However, we believe that these companies have pricing power and can maintain
revenues despite falling volumes, thereby delivering value to shareholders.

Amongst the top contributors to portfolio returns was asset manager Jupiter
Fund Management, which benefited after reporting good investment performance
and strong net asset flows; cumulative net fund flows were more than double
those of last year. Specialist pharma company Shire's Human Genetic Therapies
business made a strategic acquisition, reflecting its strong position to
reinvest and grow its product portfolio.

Activity over the month saw us purchase new holdings in Barclays and cruise
operator Carnival, add to Imperial Tobacco and Rio Tinto, and reduce positions
in British American Tobacco, AstraZeneca and BskyB. We sold the positions in
utilities Severn Trent and SSE, switching much of this capital into Pennon
Group.

Outlook

In recent months macro data globally has increasingly pointed towards an
economic environment that has stabilised but remains depressed. Economic
stimuli applied by various central banks appear to be having some modest
positive effects and indicators are continuing to point upwards. With increased
liquidity we believe that the market's emphasis will shift towards cyclical,
reflation trades, and we are also prepared to invest in some UK domestically
focused companies when we believe they are gaining market share.

UK equity valuations still look attractive compared to those of most other
asset classes, with the prospect of high quality earnings and dividend growth.
Our overall view is that in this post credit crunch world, strong companies
that have continued to invest are now increasingly gaining market share at the
expense of weak companies that have not, and consequently we continue to
maintain an overall emphasis on good quality, well financed international
companies. We are taking a more optimistic view in the portfolio and continue
to focus on stock selection as the key driver of portfolio returns.

14 February 2013