EGM Statement

Midas Income & Growth Trust PLC
24 February 2006


   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
              AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND OR JAPAN

                                24 February 2006


                        MIDAS INCOME & GROWTH TRUST PLC
                                (THE 'COMPANY')


                    RESULT OF EXTRAORDINARY GENERAL MEETING
                           AND ALLOTMENT OF C SHARES



Result of EGM

The Directors of the Company are pleased to announce that at the Extraordinary
General Meeting held today the resolution relating, inter alia, to the increase
in authorised share capital by  the creation of C Shares, to authorise the
Directors to allot the C Shares pursuant to the Placing and Offer and to amend
the Articles of Association, was approved by Shareholders.



Result of Placing and Offer

Following the closing of the Placing and Offer, the Board is pleased to report
that approximately £26.2 million pounds after expenses has been raised from
existing and new investors.  When added to the Company's net assets of
approximately £26.3 million this will achieve the Board's aim to double the size
of the Company to approximately £52.5 million.



Allotment of C Shares

18,738,177 C Shares have been allotted pursuant to the Placing and 8,037,950 C
Shares have been allotted pursuant to the Offer, giving an aggregate of
26,776,127 C Shares allotted pursuant to the Issue. Such allotment is
conditional on admission to the Official List and commencement of dealings in
the C Shares on the London Stock Exchange, which is expected to take place at
8.00 a.m. on Monday, 27 February 2006.



Settlement

CREST accounts are expected to be credited in respect of C Shares issued in
uncertificated form on 27 February 2006 and certificates in respect of C Shares
issued in certificated form are expected to be issued in the week commencing
Monday, 6 March 2006



Investment and Conversion

The net proceeds of the Issue and the investments made with them will be
accounted for and managed as a separate pool of assets until the later of 28
April 2006 and the date on which 80 per cent. of the net proceeds have been
invested.  The Directors expect that Conversion of the C Shares into New
Ordinary Shares will take place on or around 28 April 2006.



Copies of the resolution passed today have been submitted to the UK Listing
Authority and will shortly be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:



Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel: [phone]


Enquiries

Charles Mearns    Aberdeen Asset Management PLC, Secretary         0131 313 6442
Alan Borrows      Midas Capital Partners Limited, Manager          0151 906 2461
Richard Ramsay/   Intelli Corporate Finance Limited, Sponsor       020 7653 6300
Darren Willis



Notes

Words and expressions defined in the prospectus relating to the Company dated 27
January 2006 have the same meanings when used in this announcement unless the
context requires otherwise.

The C Shares will not be registered under the United States Securities Act 1933
or the relevant securities laws of any state of the United States, or under any
of the relevant securities laws of Canada, Japan, the Republic of South Africa,
or Australia, and, accordingly, the placing and offer for subscription will not
be made and the C Shares may not be offered, sold, resold, delivered or
transferred, directly or indirectly, in or into the United States, Australia,
Canada, Japan or the Republic of South Africa.

Intelli Corporate Finance Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting for Midas Income &
Growth Trust PLC and for no one else in connection with the proposed placing and
offer for subscription and will not be responsible to anyone other than Midas
for providing the protections afforded to clients of Intelli Corporate Finance
Limited or for affording advice in relation to the placing and offer for
subscription and any related matters.




                      This information is provided by RNS
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