Net Asset Value(s)

27 July 2009 M&G High Income Investment Trust P.L.C. The Board of M&G High Income Investment Trust P.L.C. announce that the net asset value at 12:00 noon today was £209.7 million. Income Shares * 45.47p Capital Shares 0.00p Zero Dividend Preference Shares 61.25p Income & Growth Units 45.47p Package Units 106.72p The net asset values have been calculated on a cum-income basis, with dividends payable deducted from net assets on the ex-dividend date. Financial assets are valued on a mid-market price basis. * The ex-income NAV of each Income Shares is 43.44p. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.