Portfolio Update

BLACKROCK INCOME & GROWTH INVESTMENT TRUST PLC

All information is at 31 January 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                    -1.5%    -0.5%   8.1%    31.1%    20.9%  104.1%
Net asset value                -2.7%    -0.1%   9.0%    21.6%    20.5%  100.3%
FTSE All-Share Total Return    -3.1%    -2.0%  10.1%    24.0%    27.6%  100.9%

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:       161.42p
Net asset value - cum income*:        165.90p
Share price:                          163.75p
Total assets (including income):       £45.1m
Discount to cum-income NAV:              1.3%
Net gearing:                             2.6%
Net yield**:                             3.4%
Ordinary shares in issue***:       27,204,268
Gearing range (as a % of net assets)    0-20%

* includes net revenue of 4.48 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 5,729,664 shares held in treasury

Benchmark

Sector Analysis                 Total assets (%)

Pharmaceuticals & Biotechnology            12.1
Travel & Leisure                            8.5
Oil & Gas Producers                         8.2
Financial Services                          8.0
Banks                                       7.9
Tobacco                                     7.3
Life Insurance                              7.1
Mobile Telecommunications                   6.7
Food Producers                              5.8
Non-Life Insurance                          5.6
Support Services                            4.8
Mining                                      4.5
Media                                       3.5
Household Goods & Home Construction         3.3
Electronic & Electrical Equipment           3.0
General Retailers                           2.0
Net Current Assets                          1.7
                                         ------
Total                                     100.0
                                         ------

Ten Largest Equity Investments

Company                       % of Total assets

Vodafone                                    6.9
Royal Dutch Shell B                         6.7
GlaxoSmithKline                             6.1
British American Tobacco                    4.6
HSBC                                        4.2
Barclays                                    4.0
Astrazeneca                                 3.8
Reed Elsevier                               3.7
Legal & General                             3.6
Reckitt Benckiser                           3.5

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

Markets

The FTSE All Share Index fell 3.1% over the month on concerns over emerging market
adjustment to US tapering. This contributed to further sterling strength
leading to earnings downgrades from overseas earners.

Portfolio Performance

The portfolio returned -2.7% over the month, outperforming the FTSE All-Share
Index return of -3.1%. Over the month, the largest contributors to performance
included Admiral and Esure, which both rose as data compiled by Towers Watson &
Confused.com indicated that the insurance rate cycle was turning earlier than
previously expected. Carphone Warehouse gave a reassuring update with the group
continuing to increase market share, benefiting from the launch of 4G, whilst
Shire updated its earnings guidance noting it expected its earnings to be
towards the upper end of forecasts. News from Hargreaves Lansdown and Ashtead
was also positive.

The main detractors to relative performance over the month included companies
with overseas earnings exposure following the weakness of emerging market
currencies. Spectris reported results in line with expectations but noted that
currency moves had offset organic growth, whilst British American Tobacco and
Unilever both detracted from performance given their exposure to emerging
markets. This was despite Unilever's full year results demonstrating a robust
underlying business with revenues, margins and earnings per share all exceeding
market expectations. The position in BG Group has been reduced in recent
months, however the modest position detracted from performance as the company
had to divert gas to the domestic market in Egypt causing it to break its LNG
supply contracts there with profits forecast a third lower than previously
expected for 2014.

Activity

During the month purchases included Aviva and Ryanair. We reduced exposure to
BG Group and Spectris and sold Tullow Oil, National Grid and Ladbrokes.

Outlook

Equity valuations have been lifted by strong liquidity levels and the
perception that `tail risks' have subsided. Although equity markets have risen,
valuations versus alternative asset classes remain attractive, which should
continue to support equities. Portfolio exposure continues to be balanced
between the developed and developing world. Economic indicators in the
developed world have improved in recent months, particularly in the UK, and
Europe.

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,
driven by demographic drivers. The portfolio is primarily invested in high free
cash flow companies that can sustain cash generation and pay a growing dividend
yield. It also has exposure to companies with sustainable growth franchises and
turnaround situations.

17 February 2014