Net Asset Value(s)

20 January 2009

The Company announces that the unaudited estimate of the total assets
of Jupiter Dividend & Growth Trust PLC as at the close of business on
19 January 2009 was £71.439 million (including the net asset value
attributable to the Zero Dividend Preference shares). The net asset
values of the various classes of shares are estimated to have been:


+-------------------------------------------------------------------+
|                                           | Net Asset Value/Share |
|                                           |          (p)          |
|-------------------------------------------+-----------------------|
| Zero Dividend Preference Shares           |                 77.93 |
|-------------------------------------------+-----------------------|
| Ordinary Income | - excluding income and  |                  0.00 |
| Shares          | expenses                |                       |
|-----------------+-------------------------+-----------------------|
|                 | - including income and  |                  0.00 |
|                 | expenses                |                       |
|-----------------+-------------------------+-----------------------|
| Packaged Units  | - excluding income and  |                 77.93 |
|                 | expenses                |                       |
|-----------------+-------------------------+-----------------------|
|                 | - including income and  |                 77.93 |
|                 | expenses                |                       |
+-------------------------------------------------------------------+


An entitlement to an income distribution equal to the Company's
accumulated revenue reserve (£1.77 million as at 31st December 2007)
is attributable to Ordinary Income shareholders under the Company's
articles in the event of the winding up of the Company.  The
Company's accounts have been prepared on a going concern basis rather
than a winding up basis for the purposes of this announcement.

Monthly fact sheets for Jupiter's investment trust clients are
available for download from www.jupiteronline.co.uk and by post or
fax on request from the company secretarial department.

Enquiries:

Faith Pengelly
Company Secretarial Department
Jupiter Asset Management Limited
[e-mail]
0207-314-4915

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