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M&G Income Inv. Co (MIV)

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Wednesday 27 February, 2008

M&G Income Inv. Co

Result of AGM


27 February 2008

                     M&G Income Investment Company Limited                     

                                 Result of AGM                                 

M&G Income Investment Company Limited announces that, at the Annual General
Meeting held on Tuesday 26th February 2008 all resolutions were duly passed.
The following was passed as a special resolution.

IT WAS RESOLVED THAT the Company be generally, and subject as hereinafter
appears unconditionally authorised in accordance with The Companies (Purchase
of Own Shares) Ordinance 1998 (`the Ordinance') to make market purchases
(within the meaning of Section 5 of the Ordinance) and to cancel its issued
Zero Dividend Shares, Ordinary Shares and Package Units, provided always that:

 a. the maximum number of Zero Dividend Shares hereby authorised to be
    purchased (including in the form of Package Units) shall be 35,324,616 and
    the maximum number of Ordinary Shares hereby authorised to be purchased
    (including in the form of Package Units) shall be 40,912,025;
   
 b. the minimum price which may be paid for either a Zero Dividend Share or an
    Ordinary Share shall be 1p, and for a Package Unit shall be 3p;
   
 c. the maximum price which may be paid for either a Zero Dividend Share, an
    Ordinary Share or a Package Unit shall be an amount equal to 105 per cent
    of the average of the middle market quotations for a Zero Dividend Share,
    Ordinary Share or a Package Unit taken from and calculated by reference to
    the London Stock Exchange Daily Official List for the five business days
    immediately preceding the day on which the relevant share is purchased;
   
 d. no repurchase of Ordinary Shares will be made either (i) at a price in
    excess of the net asset value of the Ordinary Shares (as determined by the
    directors on a date not falling more than 14 days before the relevant
    repurchase); or (ii) if the repurchase would reduce the Cover of the Zero
    Dividend Shares below 1 times;
   
 e. no repurchase of Zero Dividend Shares will be made at a price greater than
    the net asset value of a Zero Dividend Share on the date of the relevant
    repurchase;
   
 f. the authority hereby conferred shall expire on 31 October 2008.
   
Kleinwort Benson (Channel Islands) Fund Services Limited

Company Secretary

Tel: 01481 727111

END


                                                                                                                                                                     

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