22 September 2008


                  NOBLE INCOME & GROWTH VCT PLC ("the Company")


    RECOMMENDED PROPOSALS FOR A MERGER BETWEEN NOBLE INCOME & GROWTH VCT PLC
                              AND NOBLE AIM VCT PLC
                      BY WAY OF A SCHEME OF RECONSTRUCTION

Further to the Company's announcements on 28 July 2008 and 18 September 2008,
Noble Income & Growth VCT plc announces that a circular to its shareholders (the
"Circular") has been posted today seeking shareholders approval for a scheme of
reconstruction under Section 110 of the Insolvency Act 1986 (the "Scheme"), in
order to effect a merger of the Company and Noble AIM VCT plc ("Noble AIM").

A copy of the Circular will shortly be available on the website of Noble Group:
http://www.noblegp.com/services/invest/incomegrowth/literature.php

Copies of the Circular, together with the accompanying documents comprising the
Noble AIM Prospectus, will shortly be available for viewing at the UK Listing
Authority's Document Viewing Facility which is situated at: Document Viewing
Facility, 25 The North Colonnade, Canary Wharf, London E14 5HS.  In addition,
these documents will be available for inspection at 76 George Street, Edinburgh,
EH2 3BU and at Fifth floor, 120 Old Broad Street, London, EC2N 1AR until the
Effective Date of the Scheme.

Terms used in the Circular have the same meaning as this announcement.

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