Net Asset Value(s)

14 November 2008 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 £143.4 million. Income Shares * 47.55p 'XD' Capital Shares 0.00p Zero Dividend Preference Shares 57.22p Income & Growth Units 47.55p 'XD' Package Units 104.77p 'XD' 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 46.97p. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.