16th October 2008

M&G Income Investment Company Limited

Final Interim Dividend

M&G Income Investment Company Limited announces today that it was resolved to
declare a final interim dividend of 0.28p per Ordinary Share, in respect of the
period ending 31 October 2008, to be paid on 29 October 2008 to Ordinary
shareholders on the register at the close of business on 24 October 2008.The ex
dividend date is 22 October 2008.  Package Unit holders will receive a dividend
of 0.56p per Package Unit, which comprises of one Zero Dividend Share and two
Ordinary Shares.

In anticipation of the Company's winding up on 31 October 2008, the proposed
final interim dividend payment of 0.28p represents a distribution of the
Directors' best estimate of the revenue profits of the Company (including
accumulated revenue reserves) available for distribution as at 31 October 2008
to Ordinary Shareholders.

In respect of the financial year, the Company declared six interim dividends of
0.18p, three interim dividends of 0.20p, a tenth interim dividend of 1.60p and
a final interim dividend of 0.28p per Ordinary Share.  After taking into
account the final interim dividend, the total dividend in respect of the
financial year is 3.56p (7.12p per Package Unit) compared to the total dividend
of 2.94p per Ordinary Share (5.88p per Package Unit), which was paid by the
Company in respect of the year ended 31 October 2007.

Any balance remaining in the Company's revenue reserve after the Final Interim
Dividend has been paid will be taken into account when calculating the Terminal
Asset Value of the Ordinary Shares.

Company Secretary

Kleinwort Benson (Channel Islands) Fund Services Limited

01481 727111



END



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