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Martin Currie Income (MGTI)

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Tuesday 01 May, 2007

Martin Currie Income

Statement re Result of second EGM - NAV to TAV

Martin Currie Income and Growth Trust plc (the "Company")

1 May 2007

Terminal Asset Value for Capital Shares

The  Company announced yesterday that the Terminal Asset Value was 21.775  pence
per  Capital Share pursuant to the Scheme.  In addition to this, the  Liquidator
expects  to  distribute  up to a further 6.95 pence per  share  to  all  Capital
Shareholders in due course from the Liquidation Pool comprising income  declared
but  not  yet  received  together with the balance of the  liquidation  reserve,
resulting in a total of up to 28.725 pence per Capital Share.

The  last  unaudited  Net  Asset Value of the Capital Shares  published  by  the
Company was 35.4 pence per Share as at 27 April 2007.  6.45 pence of this amount
represented  revenue  reserves  paid  out  to  Income  Shareholders  which   was
incorrectly attributed to Capital Shareholders in the unaudited Net Asset  Value
calculations between 19 April 2007 and 27 April 2007. No trading took  place  in
the Company's shares during this time.

The HBPF issue price and the AHIF issue price are expected to be announced later
today.

Terms used in this announcement shall have the same meaning as those set out  in
the circular to shareholders dated 22 March 2007.

Enquiries

Keith Swinley                 0131 479 5977

Angus Gordon Lennox           020 7588 2828
JPMorgan Cazenove Limited                                                                                                                                                   

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