ALR Alternative E.

RNS Number:4154F
Allianz Dresdner Income Gwth IT PLC
29 June 2006

Allianz Dresdner Income Growth Investment Trust plc

29 June 2006



The Directors announce that the resolutions to approve the winding-up of Allianz
Dresdner Income Growth Investment Trust plc (the "Company") and to appoint the
Liquidators to implement the scheme of reconstruction of the Company (the "
Scheme"), as set out in the Circular to Shareholders dated 18 May 2006, were
duly passed at this morning's extraordinary general meeting. Accordingly the
Scheme has become effective and the Company has been placed into members'
voluntary liquidation with Richard Victor Yerburgh Setchim and Ian Christopher
Oakley Smith, both of PricewaterhouseCoopers LLP, being appointed as liquidators
of the Company.



The Company's total assets (including accrued income) as at the Calculation
Date, being close of business on 27 June 2006, were #67.5 million.  After the
retention by the Liquidators of the amounts described in the Circular, the
Scheme entitlements have been calculated on the following basis:



Ordinary Shares



The terminal asset value per Ordinary Share is 73.3227 pence.



The Merchants Trust PLC



Shareholders will receive 0.15367 shares in The Merchants Trust PLC for each
Ordinary Share in the Company in respect of which they elected for The Merchants
Trust PLC option.



Cash



Ordinary Shareholders will receive 73.3227 pence for each Ordinary Share in the
Company in respect of which they elected or were deemed to have elected for
cash.





Zero Dividend Preference Shares



The final capital entitlement per ZDP Share is 179.68 pence.



The Merchants Trust PLC



ZDP Shareholders will receive 0.37657 shares in The Merchants Trust PLC for each
ZDP Share in the Company in respect of which they elected for The Merchants
Trust PLC option.



The Allianz PIMCO Sterling Total Return Fund



ZDP Shareholders will receive 1.25677 shares in The Allianz PIMCO Sterling Total
Return Fund for each ZDP Share in the Company in respect of which they elected
for the Allianz PIMCO Sterling Total Return Fund option.



Cash



ZDP Shareholders will receive 179.68 pence for each ZDP Share in the Company in
respect of which they elected or were deemed to have elected for cash.









Applications have been made to the Financial Services Authority for 1,655,941
shares in The Merchants Trust PLC to be admitted to the Official List and to the
London Stock Exchange for such shares to be admitted to trading on the London
Stock Exchange's market for listed securities.



It is expected that Admission will become effective, and that dealings in the
Merchants Shares will commence, at 8.00 a.m. on 30 June 2006.



It is expected that cheques will be posted, CHAPS payments will be made in
respect of the cash distributions, and certificates for new Merchants shares and
contract notes for Sterling Total Return Fund shares will be despatched, to the
relevant shareholders on or as soon as practicable after 30 June 2006.





Enquiries:


Simon White                                          020 7065 1539
RCM (UK) Ltd

David Benda/Kathryn Standley                         020 7621 5557
Winterflood Investment Trusts






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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