Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 28 February 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                     0.4%     15.3%    21.8%  14.8%    32.1%   11.0%
Net asset value                 2.3%      6.6%    14.1%  13.0%    29.8%   10.6%
FSTE All-Share Total Return     2.3%      9.9%    15.2%  14.1%    35.5%   33.8%

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:    156.25p
Net asset value - cum income*:     157.62p
Share price:                       154.00p
Total assets (including income):    £44.5m
Discount to cum-income NAV:           2.3%
Gearing:                              7.8%
Net yield**:                          3.4%
Ordinary shares in issue***:    28,209,268

*includes net revenue of 1.37 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 4,724,664 shares held in treasury

Benchmark

Sector Analysis               Total assets( %)

Banks                                   16.0
Oil & Gas Producers                     14.8
Tobacco                                  9.1
Pharmaceuticals & Biotechnology          7.9
Non-Life Insurance                       5.8
Mining                                   5.5
Electronic & Electrical Equipment        5.4
Media                                    5.3
Financial Services                       4.9
Mobile Telecommunications                4.7
General Retailers                        4.2
Food Producers                           3.7
Life Insurance                           3.3
Travel & Leisure                         2.9
Gas Water & Multiutilties                2.8
Real Estate Investment & Services        2.0
Support Services                         2.0
Software & Computer Services             1.7
Technology Hardware & Equipment          0.7
Non-Equity Investment Instruments        0.4
Household Goods & Home construction      0.3
Equity Investment Instruments            0.2
Net Current Liabilities                 (3.6)
                                       ------
Total                                  100.00
                                       ------

Ten Largest Equity Investments(in alphabetical order)

Company                          % of Total assets

Barclays                                      3.7
British American Tobacco                      5.6
GlaxoSmithKline                               3.7
HSBC                                          9.8
Imperial Tobacco                              3.9
Royal Dutch Shell B                           8.0
Tate & Lyle                                   3.8
Tullow Oil                                    3.7
UBM                                           4.0
Vodafone                                      4.9

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

Markets

February saw the continued advance of the UK equity market as the FTSE
All-Share Index enjoyed its ninth consecutive month of positive returns, with
the market up by +8.8% so far this year. Rating agency Moody's downgraded the
UK's AAA credit rating by one notch and, although the risk of a downgrade had
been well flagged, the market implications may be felt through rising Gilt
yields and further Sterling depreciation: year-to-date Sterling has already
weakened by almost 7%. Europe ex-UK equities underperformed the UK with Italy
the worst performer, down 9% following the inconclusive election result, with
Ireland and Greece the best performing European markets, up 7%. Oil and gas,
basic materials and telecoms were the largest negative contributors to overall
market performance. At the other end of the spectrum industrials, consumer
goods and financials were the best performing sectors.

Portfolio Performance

During February the portfolio return of 2.3% matched the performance of the
FTSE All-Share Index total return of 2.3%.

The largest detractor from portfolio returns was the holding in Chilean copper
miner Antofagasta, which saw further share price weakness after the
announcement in January of a disappointing copper production forecast for 2013.
Shares of Pennon Group, the water and sewerage services company, fell on dual
concerns over the 2014 price review by regulator Ofwat and limited growth
prospects. Carphone Warehouse, the mobile devices retailer, also saw its shares
fall as the market sensed that the potential buy-out of the BestBuy joint
venture has become less likely, and the challenging environment for European
retailing continues.

Amongst the top contributors to portfolio returns was Playtech, the developer
of software platforms and content for the gaming industry, which performed well
as shares of online gaming companies surged on news of plans for a change in
New Jersey's Gambling Law; Playtech is the leading provider of the back-end
technology to many online gaming sites. Lancashire Holdings, the specialty
insurance provider, reported strong fourth quarter earnings that were
significantly ahead of consensus expectations, and provided improved
transparency on its future dividend distribution policy. In addition, not
owning oil major BP was additive for relative returns as its shares lagged the
wider market; in contrast, the holding in Tullow Oil performed better and was a
notable contributor to relative returns.

Activity over the month saw us purchase new positions in housebuilder Crest
Nicholson and retailer Domino's Pizza Group, and add to holdings of Barclays,
Aberdeen Asset Management, Carnival and HSBC. We reduced holdings in BSkyB,
Vodafone, Rio Tinto and Antofagasta, and sold the position in insurer Aviva, in
part due to concern that the company's dividend would be cut, which was
subsequently announced early in March.

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.

13 March 2013