MGHI M&G High

RNS NO 8087W
M&G HIGH INCOME INVESTMENT TRUST PLC
1st July 1997

M&G High Income Investment Trust P.L.C.
Declaration of Interim Dividend

Dividend
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 an Interim Dividend
of 0.96p per Income Share and 12.75 per 'I' Share, both in respect of the
period ended 31st May 1997, to be paid on 25th August 1997, to Income and 'I'
Shareholders on the register at the close of business on 11th July 1997.  The
Ex Dividend date is 7th July 1997.

Statement of Total Return
The statement of total return of the Company for the period ended 31st May
1997, was as follows:-


                                               17.03.97
                                             to 31.05.97
                                   Revenue       Capital     Total
                                   #'000         #'000       #'000

Realised gains on sale of
investments                             -          15          15
Unrealised appreciation on
investments                             -         555         555
                                   _______________________________
Total gains on investments              -         570         570

Revenue                               293          -          293
Less: Expenses                       (35)         (51)       (86)
                                   _______________________________
Return on ordinary
activities before taxation            258          519        777

Taxation on ordinary                 (57)           11       (46)
activities                         _______________________________

Return on ordinary
activities after taxation            201           530       731

Dividends (non-Equity)              (196)           -       (196)
                                   _______________________________
Transfers to reserves                  5           530       535

Earnings per Income Share (net)             0.99p
                                           ======
Asset value of Capital Shares              10.94p
                                           ======
Asset value of Zero Dividend Shares        20.30p
                                           ======   


All items dealt with in arriving at revenue on ordinary activities before
taxation for 1997 relate to continuing activities.


J.P. McClelland
Secretary
1st July 1997                                



END

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