Jpmor India G&i Regulatory News (JIGI)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR THE REPUBLIC OF SOUTH AFRICA

20 April 2016

JPMorgan Income & Growth Investment Trust plc

Reconstruction Proposals

JPMorgan Income & Growth Investment Trust plc (the "Company") has a fixed life and is due to wind up on or around 30 November 2016 (the "Wind-Up Date"). Having considered a number of options available to the Company, and having taken independent advice from the Company's brokers, Winterflood Securities Limited, the Board of the Company (the "Board") is intending to put forward proposals for a reconstruction of the Company to coincide with the Wind-Up Date (the "Proposals"). The Board has been in discussions, and has agreed heads of terms, with the board of JPMorgan Elect plc in connection with the Proposals.

Pursuant to the Proposals, which will be subject to approval of the Company's shareholders and of JPMorgan Elect plc's shareholders, the Company, through a scheme of reconstruction (expected to be under section 110 of the Insolvency Act 1986), will be wound up voluntarily and its shareholders, in respect of their shares, will be offered a choice of the following:

· A tax and cost efficient rollover into new shares to be issued by JPMorgan Elect plc; and/or

· A cash exit at NAV less costs.

JPMorgan Elect plc, which has total net assets of circa £272.2 million, has three share classes, each with distinct investment policies, objectives and underlying investment portfolios and the company's structure allows for quarterly conversion between share classes. The investment objectives of the three classes, which the Board considers to be comparable to the Company's overall investment objective, are set out below:

· Managed Growth - Long term capital growth from investing in a range of investment trusts and open-ended funds managed principally by JPMorgan Asset Management.

· Managed Income - A growing income return with potential for long term capital growth by investing in equities, investment companies and fixed income securities.

· Managed Cash - Preservation of capital with a yield based on short term interest rates by investing in a range of liquidity funds and short dated AAA-rated UK or G7 government securities hedged into sterling.

It is expected that each of JPMorgan Elect plc's share classes will be made available as rollover options for the Company's shareholders. Each share class is listed separately and traded on the main market of the London Stock Exchange.

There is a high degree of overlap between the underlying holdings of the Company and those of JPMorgan Elect plc's Managed Income share class, and the Company's shareholders will have the option to benefit from continuity of management as the Company's portfolio managers are also responsible for managing JPMorgan Elect plc's portfolio.

The Company and JPMorgan Elect plc have both engaged JPMorgan Funds Limited as their Alternative Investment Fund Manager, with responsibility for portfolio management being delegated to JPMorgan Asset Management (UK) Limited. It is expected that JPMorgan Funds Limited will contribute towards the costs of the Proposals.

The Company will release specific details of the Proposals later in 2016.

For further information, please call: