Results of General Meeting and Class Meetings

27 February 2017

JPMorgan Elect plc

Scheme of Reconstruction of M&G High Income Investment Trust P.L.C.

Results of General Meeting and Class Meetings

Further to the shareholder circular dated 19 January 2017 (the "Circular") the Board of JPMorgan Elect plc ("JPM Elect" or the "Company") is pleased to announce that all of the resolutions relating to the issue of New JPM Elect Shares in connection with the reconstruction of M&G High Income Investment Trust P.L.C. ("HIIT") (the "Scheme") put to shareholders today at the Managed Cash Class Meeting, the Managed Growth Class Meeting, the Managed Income Class Meeting (all of which were adjourned and reconvened on the same day on 27 February 2017) and the General Meeting were duly passed.

The Scheme remains conditional, amongst other things, upon:

(i) the passing of all the HIIT Scheme Resolutions to be proposed at the HIIT Scheme Meetings (or any adjournment thereof) and all conditions to such HIIT Scheme Resolutions (excluding any condition relating to the passing of any other HIIT Scheme Resolution) being fulfilled;

(ii) the UK Listing Authority consenting to the amendment of the Official List to reflect the reclassification of the HIIT Shares as Reclassified Shares;

(iii) the HIIT Directors not resolving to abandon the Scheme; and

(iv) the UK Listing Authority having agreed to admit the New JPM Elect Shares to be issued pursuant to the Scheme to the premium segment of the Official List and the London Stock Exchange having agreed to admit such New JPM Elect Shares to trading on its main market for listed securities.

Expected Timetable

Each of the times and/or dates in the expected timetable may (where permitted by law) be extended or brought forward without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to shareholders by an announcement through a Regulatory Information Service. All references to times in this document are to London time.

Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.

The full text of the resolutions can be found in the notices to the Meetings contained in the Circular which is available for viewing at the National Storage Mechanism which can be located at www.morningstar.co.uk/uk/NSM and from the Company's website, www.jpmelect.co.uk.

A summary of proxy votes received will shortly be available on the Company's website, www.jpmelect.co.uk.

For further information:

Richard Plaskett

JPMorgan Funds Limited, Client Director

020 7742 3422

Rhys Williams

JPMorgan Funds Limited, Company Secretary

020 7742 5073

Neil Langford/Chris Mills

Corporate Broker

020 3100 0160