Result of AGM

VALUE AND INCOME TRUST PLC

            RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 9 JULY 2004

The  board are pleased to announce that at the Annual General Meeting held on  9
July 2004, all resolutions were passed by shareholders.

                  PASSING OF RESOLUTION UNDER SPECIAL BUSINESS

A copy of the above document has been submitted to the UK Listing Authority, and
will shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS