Dividend Declaration

M&G High Income Investment Trust P.L.C. Dividend Announcement M&G High Income Investment Trust P.L.C. announces that at a meeting of the Board of Directors held today, it was resolved to declare a fifth interim dividend of 0.25p (2008: nil) per Income Share in respect of the year ended 31 May 2009, to be paid on 25 August 2009 to Income Shareholders on the register at the close of business on 31 July 2009. The ex-dividend date is 29 July 2009. The dividend will also be payable to holders of Income & Growth Units and Package Units. The 0.25p dividend is 0.05p higher than the level of dividend anticipated in the Prospectus issued in February 2009 in connection with the M&G Recovery Investment Company scheme of reconstruction. The declaration of a fifth interim dividend represents a change in the distribution pattern of dividend payments, reflecting the decision of the board to pay out the majority of the revenue reserves ahead of the rollovers of M&G Income Investment Company Limited and M&G Recovery Investment Company Limited into the Company. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.