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LMI Income & Growth (LIG)

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Thursday 27 November, 2003

LMI Income & Growth

Debt Repayment - Replacement

Leggmason Inv Inc & Grwth Tst PLC
27 November 2003


The issuer advises that the following replaces the Debt Repayment announcement
released erroneously on 26 November 2003 at 17:42 under RNS Number 5509S.

Due to an administrative error, it was announced that the debt reduction made
was £2,502,157.69 including associated costs which amounted to £147,842.31.
However, the announcement should have stated that the debt reduction made was
actually excluding associated costs of £147,842. As a result, the outstanding
bank debt as a result of this debt payment was £9,350,362 and not £9,485,781. In
addition, the bid valuation of the portfolio was quoted as £4,359,849 and this
should have read £3,970,023. The full and corrected version of the announcement
is given below:

The Board announces that a further debt reduction has been made of £2,502,157
excluding associated costs which amounted to £147,842. This repayment follows
the recent sale of certain investments. The current bid value of the remaining
assets owned by the Company as at 25 November 2003 was £3,970,023, compared with
the outstanding bank debt of £9,350,362.

The Board continues to engage in active discussions with the Bank of Scotland on
the Company's position and will update shareholders when any further news is

For further information:

Please contact Zoe Burton
of Legg Mason Investments (Europe) Limited
Tel: 020 7070 7474

27 NOVEMBER 2003

                      This information is provided by RNS
            The company news service from the London Stock Exchange