Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 31 March 2015 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                         0.5%      7.6%   15.5%     56.7%    56.7%    60.7%
Net asset value                    -0.6%      7.3%   15.4%     44.7%    44.7%    55.1%
FTSE All-Share Total Return        -1.7%      4.7%    6.6%     35.4%    35.4%    49.3%

Source: BlackRock

BlackRock took over the investment management of the Company with effect from 1
April 2012.

At month end

Sterling:

Net asset value - capital only:     184.75p
Net asset value - cum income*:      187.39p
Share price:                        185.50p
Total assets (including income):     £51.2m
Discount to cum-income NAV:            1.0%
Net Gearing:                           0.8%
Net yield**:                           3.1%
Ordinary shares in issue***:     26,229,268
Gearing range (as a % of net assets)  0-20%
Ongoing charges****:                   1.2%

* includes net revenue of 2.64 pence per share

** based on an interim dividend of 2.20p per share and a final dividend of
3.50p per share in respect of the year ended 31 October 2014.

*** excludes 6,704,664 shares held in treasury.

**** Calculated as a percentage of average net assets and using expenses,
excluding performance fees and interest costs for the year ended 31 October
2014.

Benchmark

Sector Analysis               Total assets (%)

Support Services                         10.8
Travel & Leisure                         10.3
Life Insurance                            9.9
Tobacco                                   8.5
Banks                                     8.4
Pharmaceuticals & Biotechnology           8.3
Oil & Gas Producers                       6.3
Media                                     5.1
General Retailers                         4.7
Mining                                    3.6
Electronic & Electrical Equipment         3.2
Non-Life Insurance                        3.1
Food Producers                            2.7
Beverages                                 2.5
Fixed Line Telecommunications             2.4
Household Goods & Home Construction       2.3
Financial Services                        2.2
General Industrials                       1.7
Industrial Engineering                    0.8
Net Current Assets                        3.2
Total                                   100.0

Ten Largest Equity Investments

Company                        Total assets(%)

AstraZeneca                               5.0
British American Tobacco                  4.9
HSBC Holdings                             4.6
Reed Elsevier                             3.9
Lloyds Banking Group                      3.8
Friends Life                              3.7
Rio Tinto                                 3.6
Prudential                                3.6
Imperial Tobacco Group                    3.6
BP Group                                  3.4

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

The Company returned 7.3%* in the first quarter of 2015, significantly
outperforming the FTSE All-Share Index return of 4.7%.

Over the quarter, the biggest contributor to the Company's performance came
from our holding in Domino Printing Sciences which rose significantly as the
company received a bid approach from Japan's Brother Industries. Essentra
reported strong revenue growth for 2014, giving confidence that management can
deliver on their goal to double revenues by 2020. Cineworld reported full year
pre-tax profits which more than doubled, boosted by the purchase of Cinema City
International in 2014. Carnival performed strongly, driven by rising demand and
higher on-board spending feeding through to revenue and profit growth, adding
to the benefits gained from lower oil costs. Other positive contributions came
from our holdings in Friends Life, Direct Line Insurance, Rentokil Initial and
Prudential.

One of the biggest detractors to relative returns came from not owning Tesco as
the company rallied after publishing a Christmas trading statement. Having been
a poor performer in 2014, Tesco shares bounced in January on better Christmas
trading and plans from the new CEO to cut costs and repair the balance sheet.
We remain sceptical that a turnaround will be simple given structural problems
in the sector. Resources company Rio Tinto underperformed due to further
weakness in commodity prices.

Activity over the quarter included new purchases in DFS and Admiral whilst
adding to holdings in Ashmore and Carnival. We reduced our positions in
Imperial Tobacco Group, Essentra and Wolseley and sold out of Esure and
Burberry Group.

Eurozone economic activity is showing signs of improvement as the European
Central Bank starts quantitative easing, whilst in the US the ending of
quantitative easing is contributing to uncertainty. We continue to focus more
on the specific drivers of individual companies and the ability to determine
their future rather than relying on a specific macro outcome. Given the outlook
for both economic growth and interest rates remains uncertain, we seek those
companies that can drive returns through self-help and have a clear strategy to
deploy the cashflow they generate. 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.

* NAV - Inc. performance.

13 April 2015