Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 31 May 2013 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                    5.0%    5.2%    35.4%   28.1%    43.9%   15.1%
Net asset value                3.1%    3.0%    25.3%   17.4%    36.3%   10.6%
FSTE All-Share Total Return    2.9%    5.0%    30.1%   20.9%    44.1%   35.2%

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:       158.53p
Net asset value - cum income*:        162.27p
Share price:                          162.00p
Total assets (including income):       £45.0m
Discount to cum-income NAV:              0.2%
Gearing:                                 5.1%
Net yield**:                             3.2%
Ordinary shares in issue***:       27,729,268
Gearing range (as a % of net assets)    0-20%

* includes net revenue of 3.74 pence per share

** based on final dividend of 3.45p per share in respect of the year ended 31
October 2012 and interim dividend of 1.80p per share in respect of the year
ended 31 October 2012.

*** excludes 5,204,664 shares held in treasury

Benchmark

Sector Analysis                Total assets( %)

Banks                                     13.5
Oil & Gas Producers                       12.7
Pharmaceuticals & Biotechnology           10.0
Tobacco                                    9.3
Mining                                     5.2
Mobile Telecommunications                  5.1
Non-Life Insurance                         4.9
Travel & Leisure                           4.8
Life Insurance                             4.5
Financial Services                         3.6
Support Services                           3.1
Media                                      3.0
Beverages                                  2.9
Food Producers                             2.6
Electronic & Electrical Equipment          2.6
Gas, Water & Multiutilities                2.3
General Retailers                          2.1
Real Estate Investment & services          1.9
Industrial Engineering                     1.5
Oil Equipment, Services & Distribution     1.5
Fixed Line Telecommunications              1.3
General Industrials                        1.2
Household Goods & Home Construction        1.0
Net Current Liabilities                   (0.6) 
                                         ------
Total                                    100.00
                                         ------
Ten Largest Equity Investments

Company                      % of Total assets

HSBC                                       9.1
Royal Dutch Shell B                        7.0
British American Tobacco                   6.1
GlaxoSmithKline                            5.8
Vodafone                                   5.4
Imperial Tobacco                           3.7
Barclays                                   3.6
Shire                                      3.3
Rio Tinto                                  3.0
Diageo                                     3.0

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

Markets

The UK equity market enjoyed its twelfth consecutive month of gains and
outperformed other global equity markets, with fears over tapering of
quantitative easing by the US Federal Reserve giving some cause for concern
towards the end of the month: Japanese equities fell as the market experienced
some of its largest daily declines since the 1980s; the US equity market was
more resilient as the improving US macroeconomic backdrop helped to support
returns. Financials, especially banks, were the largest contributors to index
performance, with defensives - telecoms, beverage, utilities and food producers
- lagging as investors rotated into more cyclically-exposed industrials and
financials sectors.

Portfolio Performance

The portfolio returned +3.1% over the month, slightly ahead of the FTSE All Share 
Index return of +2.9%.

The positive contributors to relative performance included Admiral Group, whose
shares recovered in May after the motor insurer reported in April that it
had seen a decline in UK motor insurance premium income during the first
quarter, and specialty pharma company Shire, which rose after winning a patent
trial for its specialist gastrointestinal drug Lialda, avoiding the threat from
early generic competition. The portfolio's holding in Barclays was additive for
returns, as was not owning Standard Chartered, which faltered on the slower revenue
outlook in its core markets; overall banks contributed positively.

Amongst the detractors to relative returns was specialty insurer Lancashire
Holdings, whose shares declined following strong outperformance in Q1 as
investors became concerned by excess capital putting pressure on insurance
premium rates. Tate & Lyle reported reassuring results and profits growth but
lagged due to the market rotation away from defensive names, and not owning
SABMiller was helpful for relative returns. Elsewhere, BSkyB shares were down
after BT Group announced that it will offer its new BT Sports channel "free" to
its broadband customers, and Carnival shares fell after the cruise operator
lowered full year earnings guidance, noting that margins will be hurt by price
cuts undertaken following a series of mishaps.

New positions were initiated in asset gatherer St James Place and telecoms
provider BT Group, and the portfolio's holdings in utilities companies United
Utilities and Pennon Group were sold and the capital switched into a new
holding in National Grid. The portfolio's holdings in Halfords Group and Soco
International were also sold after the positions had been reduced in previous months.

Outlook

Equity valuations have been lifted by a downward reassessment of risk levels in
equity investment given higher levels of inflation and lower bond yields. In
the current economic environment we retain our preference for companies with
high quality franchises that can still prosper through exposure to growth
markets and we believe that the earnings of UK companies can still grow due to
their exposure to these international markets. Markets seem to be no longer
dominated by a simple "risk-on, risk-off" trading mentality and it appears that
risk-taking is now being rewarded on a more fundamental basis.

18 June 2013