Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 31 October 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                   4.1%     2.2%  24.3%    31.7%    29.0%   89.7%
Net asset value               5.3%     2.3%  16.2%    21.7%    27.7%   86.4%
FTSE All-Share Total Return   4.3%     3.1%  22.8%    26.4%    35.6%   96.7%

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:     162.30p
Net asset value - cum income*:      166.03p
Share price:                        164.50p
Total assets (including income):     £47.5m
Discount to cum-income NAV:            0.9%
Net Cash:                              0.8%
Net yield**:                           3.3%
Ordinary shares in issue***:     27,399,268
Gearing range (as a % of net assets)  0-20%

* includes net revenue of 3.73 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 2.00p per share in respect of the year
ended 31 October 2013.

*** excludes 5,534,664 shares held in treasury

Benchmark

Sector Analysis            Total assets( %)

Banks                                 11.4
Oil & Gas Producers                    9.2
Tobacco                                8.0
Pharmaceuticals & Biotechnology        7.9
Travel & Leisure                       6.6
Support Services                       6.1
Mobile Telecommunications              5.9
Media                                  5.1
Food Producers                         4.9
Non-Life Insurance                     4.7
Life Insurance                         4.4
Mining                                 4.3
Financial services                     3.9
Electronic & Electrical Equipment      3.0
Non-Equity Investment Instruments      2.7
General Retailers                      2.6
Household Goods & Home Construction    2.5
Gas, Water & Multiutilities            2.3
Fixed Line Telecommunications          2.2
Net Current Assets                     2.3
                                     -----
Total                                100.0
                                     -----

Ten Largest Equity Investments

Company                 % of Total assets

Vodafone                              6.2
HSBC                                  6.1
GlaxoSmithKline                       5.8
British American Tobacco              5.3
Royal Dutch Shell B                   5.2
Barclays                              3.4
Wolseley                              3.4
Reed Elsevier                         3.3
Legal & General                       3.3
Unilever                              3.2

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

Markets

October was another eventful month for equity markets as a last minute
compromise was reached by US politicians allowing the US debt ceiling to be
raised. As a result of the debt ceiling debate, it is thought that the US 
Federal Reserve are now less likely to consider tapering asset purchases before 2014.

UK consumer confidence continued to show improvement while GDP growth in China
seems to be back on an upward path with PMI momentum improving. The market was
led higher by the oil & gas, life insurance, household goods and pharmaceuticals 
sectors, whilst the banking sector underperformed.

Portfolio Performance

The portfolio returned +5.3% over the month, outperforming the FTSE All-Share
Index return of +4.3%.

Over the period, the largest contributor to portfolio performance came from the
position in Hargreaves Lansdown which reported a strong rise in profits after
benefiting from continued flows and strong stock markets. Carphone Warehouse
announced it would transfer to a full market listing at the end of September
lifting demand for the shares, which continue to trade at a discount to the
sector despite strong growth drivers. Shire rose after it raised earnings
guidance with core operating profit for the quarter 10% ahead of market
expectations. The portfolio also benefited from taking part in the Royal Mail
new share issue.

The largest single detractor from relative performance came from the zero
weight position in BP. BP's share price rallied as the company increased its
dividend. Elsewhere, Esure's share price fell following the recent reduction in
growth outlook.

During the month, we initiated new positions in Compass and Royal Mail via the
new share listing. We added to positions in testing specialist Spectris,
insurance group Phoenix and private equity group 3i. We added to Wolseley,
Howden Joinery and Ashtead maintaining the portfolio's exposure to US and UK
housebuilding and construction as we sold the positions in Bovis Homes and
Foxtons. We also sold real estate group Capital & Counties, Jupiter Fund
Management and Playtech and reduced HSBC, Oxford instruments and Shire.

Outlook

Equity valuations have been lifted by strong liquidity levels and the
perception that `tail risks' have subsided in 2013. Although equities have
risen, valuations versus alternative asset classes remain attractive, which
should continue to support equities. Equity markets should also be supported as
investor confidence continues to improve as the probability of depression in
Europe reduces.

Portfolio exposure continues to be balanced between the developed and
developing world. Economic indicators in the developed world have improved in
recent months, particularly in the UK, and Europe. The UK economy is showing
promising signs of improvement helped by low interest rates, improving consumer
confidence and a recovering housing market.

Whilst economic indicators in the developing world have slowed this year it is
worth noting that growth rates remain higher than those in the developed world
driven by demographic drivers. The portfolio is primarily invested in high free
cash flow companies that can sustain cash generation and pay a growing dividend
yield, but also has exposure to companies with sustainable growth franchises
and turnaround situations.

18 November 2013