Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 28 February 2014 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                   3.9%     3.7%  11.8%    36.2%    26.5%  126.4%
Net asset value               5.7%     5.5%  12.6%    28.5%    25.5%  131.3%
FTSE All-Share Total Return   5.2%     3.9%  13.3%    30.5%    31.2%  126.2%

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:      170.13p
Net asset value - cum income*:       171.75p
Share price:                         166.50p
Total assets (including income):      £46.7m
Discount to cum-income NAV:             3.1%
Net Gearing:                            0.8%
Net yield**:                            3.3%
Ordinary shares in issue***:      27,204,268
Gearing range (as a % of net assets)   0-20%

* includes net revenue of 1.62 pence per share

** based on an interim dividend of 2.00p per share and final dividend of 3.50p
per share in respect of the year ended 31 October 2013.

*** excludes 5,729,664 shares held in treasury

Benchmark

Sector Analysis                   Total assets (%)

Pharmaceuticals & Biotechnology              12.5
Travel & Leisure                              9.0
Tobacco                                       8.3
Financial Services                            8.2
Oil & Gas Producers                           7.4
Life Insurance                                7.0
Banks                                         6.8
Support Services                              6.1
Food Producers                                5.0
Mobile Telecommunications                     4.7
Household Goods & Home Construction           4.1
Media                                         3.5
Non-Life Insurance                            3.4
Mining                                        3.2
Electronic & Electrical Equipment             2.8
General Retailers                             2.5
Fixed Line Telecommunications                 2.1
Net Current Assets                            3.4
Total                                       100.0

Ten Largest Equity Investments

Company                                   % of Total assets

Royal Dutch Shell B                                     6.8
GlaxoSmithkline                                         6.3
British American Tobacco                                5.4
BlackRock's Institutional Sterling liquidity fund       5.4
Vodafone                                                4.9
Legal & General                                         4.4
Reckitt Benckiser                                       4.3
HSBC                                                    4.1
Astrazeneca                                             3.9
Compass                                                 3.9
Unilever                                                3.8

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

Markets

The FTSE All Share index rose by 5.2% during February as economic data remained
broadly supportive. Equity markets were not impacted throughout the month by
the political instability in the Ukraine, but were subsequently impacted during
the first few days of March.

Portfolio Performance

The portfolio returned 5.7% in February, outperforming the FTSE All-Share Index
return of 5.2%. Over the month, the largest contributors to performance
included Carphone Warehouse, which rose following the announcement that the
group was in merger talks with Dixons. Low cost airline Ryanair, reported
results that noted an easing of pricing pressures followed by positive growth
in air traffic for January. 3i Group continued to deliver on its restructuring
plans whilst British American Tobacco reported steady earnings growth in its
preliminary results despite experiencing currency headwinds.

The largest detractor from relative performance over the month was Tate & Lyle,
which fell following weaker sucralose pricing towards the end of its reporting
period. Hargreaves Lansdown also fell after reporting earnings had slightly
missed expectations. Its investment platform has continued to see strong asset
inflows but the group reported a lower cash margin. Within banks, Barclays was
also a detractor as it reported a disappointing fourth quarter in its full year
results.

Activity

During the month we purchased Essentra whilst adding to Compass and Reckitt
Benckiser. We reduced the positions in Admiral and Stagecoach and sold BHP
Billiton and Lancashire.

Outlook

Equity valuations have been lifted by strong liquidity levels and the
perception that `tail risks' have subsided. Although equity markets 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. It also has exposure to companies with sustainable growth franchises and
turnaround situations.

17 March 2014