18 September 2008

NOBLE INCOME & GROWTH VCT PLC

PROPOSAL FOR A MERGER BETWEEN NOBLE INCOME & GROWTH VCT PLC 

('NOBLE INCOME & GROWTH' OR 'THE COMPANY') AND 

NOBLE AIM VCT PLC ('NOBLE AIM') 

BY WAY OF A SCHEME OF RECONSTRUCTION

Further to the announcement made by Noble Income & Growth on 28 July 2008, the board of the Company announces that it has reached agreement on proposals for the merger of the Company and Noble AIM (together the 'Enlarged Company') under a scheme of reconstruction under Section 110 of the Insolvency Act 1986 (the 'Scheme').  

Accordingly, subject inter alia to approval by the shareholders of Noble Income & Growth, it is proposed to place the Company into members' voluntary liquidation and for its assets and liabilities to be transferred into Noble AIM in exchange for the issue of new ordinary shares of 10 pence each in Noble AIM ('New Ordinary Shares') to Noble Income & Growth shareholders.  

The board of the Company further announces that it will shortly be writing to the Company's shareholders with full details of the Scheme, which will be sent with notices of the necessary shareholders' meetings.

For enquiries relating to this announcement, please contact:

Noble Income & Growth VCT plc                                                                      0131 225 9677

                Bert Wiegman

               Noble Fund Managers Limited                                                                           0131 225 9677 

               Paul Jourdan/Douglas Lawson