Interim Management Statement

Midas Income & Growth Trust PLC
28 August 2007


Midas Income & Growth Trust PLC

Interim Management Statement (unaudited) - 3 months to 31 July 2007


To the shareholders of Midas Income & Growth Trust PLC

This interim management statement has been produced solely to provide additional
information to shareholders as a body to meet the relevant requirements of the
UK Listing Authority's Disclosure and Transparency Rules. It should not be
relied upon by any other party or for any other purpose.


This interim management statement relates to the period from 1 May 2007 to 31
July 2007, and contains information that covers this period, and up to the date
of publication of this interim management statement, unless otherwise specified.


Investment objective

The Company seeks to achieve an absolute return with low volatility through
investment in a multi- asset portfolio. This will be achieved by investing in a
diverse portfolio comprising principally of UK equities and fixed interest
securities, together with overseas equities, property, alternative assets and
structured products.


The portfolio will ordinarily contain some 50 - 65 holdings, and will target a
benchmark of 8% per annum through a combination of high and growing income and
additional capital growth. Investment will be made in a combination of direct
holdings together with a range of other investment funds where more specialised
management skills are necessary.


Benchmark

The Company does not compare its performance to an index, but has instead
adopted a target benchmark of 8% per annum.


Material  events

On 11 July 2007, the Company posted its Annual Report and Accounts to 30 April
2007, and Notice of Annual General Meeting, to Shareholders.  The Company's
Annual General Meeting will be held at One Bow Churchyard, Cheapside, London
EC4M 9HH at 12.30pm on 11 September 2007.


The Company announced on 17 August 2007 a first interim dividend to Ordinary
Shareholders of 1.53p per share. The dividend will be payable on 17 September
2007 to those Shareholders on the register on 31 August 2007, Ex Date 29 August
2007.


On 3 August the Company re-financed its existing £5,550,000 loan facility with
AIB via a new £8,000,000 facility with RBS. £4,250,000 was initially drawn down,
with a further £2,000,000 being drawn down on 17 August 2007.


The Board is not aware of any other significant events or transactions which
have occurred between 31 July 2007 and the date of publication of this interim
management statement which would have a material impact on the financial
position of the trust.


For latest NAV and share price information please refer to the manager's
website, www.midascapital.co.uk.


Ten largest 'direct equity' holdings at 31 July 2007

                                                   %

A.J. Bell Holdings Ltd *                          2.4
Legal & General Group Plc                         1.9
BP Plc                                            1.9
William Hill Plc                                  1.8
BT Group Plc                                      1.7
Lloyds TSB Group Plc                              1.7
Royal Dutch Shell B Plc                           1.7
GlaxoSmithKline Plc                               1.5
National Grid Plc                                 1.5
HBOS Plc                                          1.4
                                               __________
Total                                             17.5
                                               __________

* Unquoted investment


Ten largest 'other' holdings at 31 July 2007
                                                   %

M&G European Leveraged Loan Fund                  2.6
CF Ruffer Baker Steel Gold Fund                   2.3
Merrill Lynch Commodities Trust                   2.2
European Assets Trust                             2.2
Protego UK Property Fund                          2.1
Thames River Traditional High Income Fund         1.9
Aberdeen Asian Income Fund                        1.8
Resolution Argonaut Income Fund                   1.7
Barclays Bank (Signet) FRN 24/12/2012             1.7
Merrill Lynch Japan High IncomeTrust              1.6
                                               __________
Total                                             20.1
                                               __________




Asset allocation as at 31 July 2007
Asset Class                                        %

UK Equities                                       33.9
Overseas Equities                                 17.2
Fixed Interest                                    17.3
Alternative Assets & Structured Products          17.6
Property                                          10.6
Cash                                               3.4
                                               __________
Total                                            100.0
                                               __________



General description of Company's financial position and performance as at 31
July 2007
                                                                      £m

Gross Assets                                                         83.6
Debt                                                                  4.3
Net Assets                                                           79.3

Potential gearing                                                    5.1%

Capital structure
Ordinary Shares                                               46,255,250
Warrants                                                        2,034,111



Cumulative performance (%)

                         as at    1 month     3 months     6 months Year to date       1 year  Since portfolio
                    31/07/2007                                                                 change 19/08/05
                                                                                                     per annum
                                                                                                  (annualised)

Share Price             171.0p      -5.5%        -6.0%         2.5%         1.2%         9.5%            13.1%
Basic NAV               169.7p      -2.5%        -3.6%         3.0%         2.5%        11.8%             8.7%
Diluted NAV             166.8p      -2.4%        -3.5%         3.7%         3.1%        13.5%            11.0%
Benchmark Target                     0.6%         1.9%         3.9%         4.6%         8.0%             8.0%
(8% p.a.)


Total Return; NAV to NAV, Net Income Reinvested, GBP.  Share price total return
is on a mid-to-mid basis.  Dividend calculations are to reinvest as at the
ex-dividend date.


Source: Aberdeen Asset Management and Fundamental Data


Please note that past performance is not necessarily a guide to the future and
that the value of investments and the income from them may fall as well as rise.
Investors may not get back the amount they originally invested.



For Midas Income & Growth Trust PLC

Aberdeen Asset Management PLC, Secretary

28 August 2007


                      This information is provided by RNS
            The company news service from the London Stock Exchange