Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 30 November 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                   -0.3%     6.0%   24.4%      31.3%    29.5%  111.0%
Net asset value                0.1%     6.3%   13.8%      21.8%    32.6%   98.6%
FTSE All-Share Total Return   -0.7%     4.7%   19.8%      25.6%    37.8%   98.7%

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:        161.99p
Net asset value - cum income*:         166.26p
Share price:                           164.00p
Total assets (including income):        £45.6m
Discount to cum-income NAV:               1.4%
Net Cash:                                 1.1%
Net yield**:                              3.3%
Ordinary shares in issue***:        27,399,268
Gearing range (as a % of net assets)     0-20%

* includes net revenue of 4.27 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. The issued share capital 
subsequently changed to 27,204,268 ordinary shares excluding 5,729,664 shares 
held in treasury.

Benchmark

Sector Analysis                Total assets( %)
Travel & Leisure                           9.6
Pharmaceuticals & Biotechnology            9.1
Oil & Gas Producers                        9.0
Tobacco                                    7.9
Banks                                      7.7
Support Services                           7.3
Mobile Telecommunications                  6.0
Food Producers                             5.8
Non-Life Insurance                         4.8
Mining                                     4.6
Non-Equity Investment Instruments          4.5
Life Insurance                             4.4
Financial services                         4.1
Media                                      3.6
Household Goods & Home Construction        3.3
Electronic & Electrical Equipment          3.2
Gas, Water & Multiutilities                2.3
General Retailers                          2.1
Net Current Assets                         0.7
Total                                    100.0

Ten Largest Equity Investments

Company                      % of Total assets
Vodafone                                   6.2
GlaxoSmithKline                            5.7
Royal Dutch Shell B                        5.1
British American Tobacco                   5.1
HSBC                                       4.6
Barclays                                   3.5
Reckitt Benckiser                          3.4
Reed Elsevier                              3.4
Unilever                                   3.3
Wolseley                                   3.3

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

Markets

The UK equity market ended November slightly down despite incrementally better
economic news in the US, UK and Europe. The reason for this counterintuitive
response is that stronger economic data may lead to withdrawal of stimulus by
the US Federal Reserve.

Portfolio Performance

The portfolio returned +0.1% over the month, outperforming the FTSE All-Share
Index return of -0.7%.

Despite the market falling, the portfolio was able to produce positive absolute
returns. The largest positive contribution to performance over the month came
from the holding in Carphone Warehouse. The shares rose strongly following
first half profits that exceeded market expectations leading to raised earnings
guidance. Motor insurer Esure recovered following recent weakness after a
reassuring update. Elsewhere the shares of online gaming specialist Betfair
rose after the company received permission to go live on its online platform in
New Jersey. The stronger economic data helped industrial companies Spectris and
Ashtead to outperform.

Offsetting some of the gains, British Sky Broadcasting shares fell when BT, a
newcomer to sports broadcasting in Britain, outbid Sky and ITV for the full
live rights to Champions League matches in a £900m deal over 3 years. Insurance
company Phoenix fell after Swiss Re confirmed it would not bid for the group.

We initiated a new position in AstraZeneca in the core part of the portfolio,
Rentokil Initial as a turnaround and Ryanair and Merlin Entertainment in the
growth part of the portfolio. We added to positions in Tate & Lyle and Reckitt
Benckiser and reduced British Sky Broadcasting and HSBC while we exited from BT
Group and Standard Chartered.

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.

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.

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.

19 December 2013