Portfolio Update

BLACKROCK INCOME AND GROWTH INVESTMENT TRUST PLC

All information is at 30 April 2015 and unaudited.

Performance at month end with net income reinvested

                                  One      Three     One     Three     Since     Five
                                 month    months    year     years   1 April    years 
                                                                        2012
Sterling:
 
Share price                       1.3%      4.1%   17.5%     58.2%     58.8%    65.2%
Net asset value                   1.1%      3.9%   15.6%     46.5%     46.3%    58.2%
FTSE All-Share Total Return       3.0%      5.1%    7.5%     40.5%     39.5%    55.9%

Source: BlackRock

BlackRock took over the investment management of the Company with effect from 1
April 2012.

At month end

Sterling:

Net asset value - capital only:    185.82p
Net asset value - cum income*:     189.45p
Share price:                       188.00p
Total assets (including income):    £51.7m
Discount to cum-income NAV:           0.8%
Net Gearing:                           nil
Net yield**:                          3.0%
Ordinary shares in issue***:    26,229,268
Gearing range (as a % of net assets) 0-20%
Ongoing charges****:                  1.2%

* includes net revenue of 3.63 pence per share.

** based on an interim dividend of 2.20p per share and a final dividend of
3.50p per share in respect of the year ended 31 October 2014.

*** excludes 6,704,664 shares held in treasury.

**** Calculated as a percentage of average net assets and using expenses,
excluding performance fees and interest costs for the year ended 31 October
2014.

Benchmark

Sector Analysis           Total assets (%)

Banks                                10.9
Travel & Leisure                      9.9
Support Services                      8.7
Tobacco                               8.3
Pharmaceuticals & Biotechnology       8.0
Oil & Gas Producers                   6.6
Life Insurance                        6.3
Media                                 6.1
General Retailers                     4.9
Mining                                3.7
Non-Life Insurance                    3.5
Electronic & Electrical Equipment     3.1
Food Producers                        2.7
Fixed Line Telecommunications         2.4
Beverages                             2.4
Financial Services                    2.4
Household Goods & Home Construction   2.3
General Industrials                   1.5
Industrial Engineering                1.2
Net Current Assets                    5.1
Total                               100.0

Ten Largest Equity Investments

Company                    Total assets(%)

HSBC                                  5.2
British American Tobacco              5.0
AstraZeneca                           4.8
Lloyds Banking Group                  3.8
Rio Tinto                             3.7
BP                                    3.6
Reed Elsevier                         3.6
Next                                  3.5
Imperial Tobacco                      3.3
GlaxoSmithKline                       3.2

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

Markets

The Company returned 1.1% in April 2015, underperforming the FTSE All-Share
Index return of 3.0%. 

Portfolio Performance

Over the month, the biggest single stock detractor to relative performance came
from not holding BG Group, which rallied significantly following the proposed
takeover by Royal Dutch Shell. Our underweight to the oil sector was a
headwind for the Company during the month as the oil price continued to
strengthen. Carnival, which has been a beneficiary of the low oil price in
recent months, fell in April as the oil price rallied. Several of the Company's
positions which have performed well in recent months gave back some of their
gains, despite no company specific newsflow, these included, Reed Elsevier, Wolseley, Domino
Printing Sciences, Bodycote.

The biggest contributor to performance over the month came from the Company's
holding in Imperial Tobacco after initial concerns about the Reynold-Lorillard
merger in the US gave way to a more positive view that the transaction will go
through. Our holding in Next reported strong first quarter 2015 results and
announced a further 60p special dividend (in lieu of a share buyback). Not
owning Tesco in April was a strong contributor to relative performance as the
company reported a £6.4bn annual loss, largely due to non-cash items; writing
down property assets and an increase in the pension deficit.

Outlook

Eurozone economic activity is showing signs of improvement as the European
Central Bank starts quantitative easing, whilst in the US the ending of
quantitative easing is contributing to uncertainty. We continue to focus more
on the specific drivers of individual companies and the ability to determine
their future rather than relying on a specific macro outcome. Given the outlook
for both economic growth and interest rates remains uncertain, we seek those
companies that can drive returns through self-help and have a clear strategy to
deploy the cashflow they generate. 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.

15 May 2015