Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 31 March 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                     -0.4%      1.9%   10.7%     35.7%     28.6%   126.8%
Net asset value                 -2.4%      0.4%    9.9%     25.4%     24.7%   113.9%
FTSE All-Share Total Return     -2.6%     -0.6%    8.8%     27.1%     28.8%   113.3%

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:       165.54p
Net asset value - cum income*:        167.64p
Share price:                          165.88p
Total assets (including income):       £47.5m
Discount to cum-income NAV:              1.1%
Net Cash :                               1.1%
Net yield**:                             3.3%
Ordinary shares in issue***:       27,139,268
Gearing range (as a % of net assets)    0-20%

* includes net revenue of 2.10 pence per share

** based on 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 5,794,664 shares held in treasury

Benchmark

Sector Analysis              Total assets (%)
Pharmaceuticals & Biotechnology          12.2
Travel & Leisure                          9.2
Financial Services                        8.4
Oil & Gas Producers                       7.7
Tobacco                                   7.7
Banks                                     6.7
Food Producers                            6.4
Support Services                          6.4
Household Goods & Home Construction       5.9
Life Insurance                            5.6
Media                                     3.6
Non-Life Insurance                        3.5
Mobile Telecommunications                 3.5
Mining                                    3.2
General Retailers                         2.8
Electronic & Electrical Equipment         1.9
Net Current Assets                        5.3
Total                                   100.0

Ten Largest Equity Investments

Company                     % of Total assets

Royal Dutch Shell B                       7.0
GlaxoSmithKline                           6.1
British American Tobacco                  5.7
Unilever                                  4.9
HSBC                                      4.9
Reckitt Benckiser                         4.6
AstraZeneca                               4.0
Compass                                   3.9
Reed Elsevier                             3.8
Wolseley                                  3.8

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

Markets

The FTSE All Share paused for breath after the strong rally seen in 2013
falling by 0.6% in the first quarter of 2014. Tensions rose sharply around the
Ukraine, centred on the Crimea, prompting an increase in the risk premium after
a period of relatively subdued geopolitical tensions. Chinese data remained
relatively weak and continued to provide a headwind to Emerging Markets and
related stocks. Closer to home, the UK economy grew robustly and the Bank of
England gave comfort that, with inflation remaining subdued, low interest rates
could be sustained.

Portfolio Performance

The Company returned +0.4% over the quarter, outperforming the FTSE All-Share
Index return by 1.0%. Over the period a variety of companies delivered on
earnings expectations, benefiting the portfolio, at a time when the prevailing
trend has been for downgrades to forecasts. These included Ryanair, Ashtead,
Hargreaves Lansdown and Howden Joinery. Carphone Warehouse also outperformed
following the announcement that the group was in merger talks with Dixons.
Although a deal is uncertain at this stage, synergies generated from a deal
could be significant.

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, whilst Oxford Instruments fell after reporting that trading had
slightly missed expectations and was compounded by the relative strength of
sterling. The UK Budget gave a boost to Hargreaves Lansdown, and other
savings-related companies, but was a negative for annuity providers including
Legal & General, which fell on the announcement that it will now be optional,
rather than mandatory, to buy an annuity on retirement in the UK.

Activity

During the quarter we purchased Essentra, Berkeley Group and Aviva whilst
adding to Compass and Reckitt Benckiser. We reduced positions in Admiral,
Barclays and Stagecoach and sold National Grid, BHP Billiton and Lancashire.

Outlook

Economic indicators in the developed world have improved in recent months,
particularly in the UK and US. 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 helped by demographic drivers. Consequently,
portfolio exposure continues to be balanced between the developed and
developing world. Although equity markets have risen, valuations versus
alternative asset classes remain attractive, which should continue to support
equities.

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.

17 April 2014