Re Martin Currie Inc & Growth

Henderson High Income Trust PLC
22 December 2006


Martin Currie Income & Growth Trust plc


Reconstruction Proposals


21 December 2006


The Board of Martin Currie Income & Growth Trust plc (the "Company") today
announces that it will put forward proposals for a scheme of reconstruction of
the Company under section 110 of the Insolvency Act 1988 (the "Scheme"). It is
intended that the Scheme will become effective on 30 April 2007, the date on
which the Company is due to be wound up under its Articles of Association. Under
the Scheme, the Company will be wound up under a members' voluntary liquidation
and shareholders will be offered the opportunity to roll-over all or part of
their investment in a tax efficient manner or to receive cash.

The Scheme will offer the opportunity for shareholders to exchange their
investment in the Company for any of the following:

(a) shares in Henderson High Income Trust plc ("HHI"), a high yielding
conventional UK investment trust listed in London. HHI has a single class of
share in issue which yields approximately 4.5% on its current share price and
has traded at an average premium of 2.4% over the past 12 months. HHI has
consistently outperformed its benchmark over the last five years.  HHI is
managed by Henderson Global Investors.

Shares in HHI will be the default option under the Scheme for holders of income
and capital shares in the Company who do not make an election. HHI's shares will
be issued to shareholders in the Company at the higher of the prevailing share
price adjusted to reflect a maximum premium of 2%, or NAV (plus current year
income) plus 0.25 percent.  Such premium therefore will not exceed 2% and HHI
will bear its own costs for participating in the scheme.

(b) shares in Henderson Preference and Bond Fund ("HPBF"), an open-ended
investment fund managed by Henderson Global Investors. HPBF is one of the UK's
longest running funds of its kind. Shares in HPBF will be the default option
under the Scheme for zero dividend preference shareholders in the Company who do
not make an election. HPBF shares will be issued to shareholders in the Company
at net asset value.

(c) Allchurches Higher Income Fund ("AHIF"), an open-ended investment fund
managed by Allchurches Investment Management Limited which is part of
Ecclesiastical Insurance.   The objective of the AHIF is to provide a relatively
high level of growing income with additional capital growth through a highly
diversified asset structure.  The fund principally invests in UK and Overseas
equities and also makes use of fixed interest and convertibles to boost income
and provide further portfolio diversification.  The fund has significantly
outperformed the FTSE All-Share since its launch in November 1994 and ranks 1st
out of thirteen funds in its sector since launch.  AHIF shares will be issued to
shareholders in the Company at their net asset value.

Shareholders who elect to receive cash will be sent cheques shortly after 30
April 2007 being the date on which the liquidation of the Company is expected to
commence.

In considering the terms of the Scheme, the Board of the Company has sought to
keep the costs of the Scheme to a minimum. Accordingly, the Board has also
agreed with the investment managers of the rollover options that they will each
make a payment to the Company equal to 1% of the value of the assets rolled over
into HHI, HPBF and AHIF respectively under the Scheme.   In addition, rollover
elections will, where possible, be satisfied by in specie transfers to the
relevant rollover option so as to keep portfolio reorganisation costs to a
minimum.

As a result of these measures, the net costs of the Scheme are expected to be
lower than the costs that would typically be incurred in the reconstruction of
an investment trust.  No termination fee will be payable to the Company's
incumbent investment manager, Martin Currie Investment Management Limited, in
connection with the proposals.

Further details of the Scheme and the rollover options will be announced with
the publication, in due course, of a circular to the shareholders of the Company
convening the necessary EGMs to implement these proposals.


Enquiries

Richard Bernays                       0131 229 5252
Chairman

Angus Gordon Lennox                   020 7588 2828
JPMorgan Cazenove




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