MITON INCOME OPPORTUNITIES TRUST PLC - Merger Update

Miton Income Opportunities Trust PLC (the "Company" or "MIOT")

30 September 2013

Formula Asset Values in connection with the Scheme

The Board of Miton Income Opportunities Trust PLC (the "Company" or "MIOT")
posted a circular to shareholders dated 30 August 2013 (the "Circular") which
contained detailed proposals for the reconstruction and voluntary winding up of
the Company (the "Scheme"). Pursuant to the Scheme, Eligible Shareholders will
receive ordinary shares in The Diverse Income Trust plc ("DIVI") in exchange
for their Shares in the Company.

Pursuant to the terms of the Scheme, the MIOT FAV per Share and the DIVI FAV
per Share were calculated for the purposes of the Scheme as at 5.00 p.m. on
25 September 2013. The FAVs are as follows:

MIOT FAV per Share - 529.49 pence

DIVI FAV per Share - 73.58 pence

Accordingly, under the terms of the Scheme and subject to the Scheme becoming
unconditional, Eligible Shareholders will receive 7.1965 DIVI ordinary shares
for every Share held in the Company. Fractional entitlements will be rounded
down to the nearest whole number of DIVI ordinary shares and not be issued to
Eligible Shareholders, in accordance with the terms of the Scheme.

The Scheme remains conditional on passing of the special resolution at the
Second General Meeting at 9.30am today and admission of the DIVI ordinary
shares to listing on the premium segment of the Official List of the UKLA and
to trading on the Main Market of the London Stock Exchange, which is expected
to occur on Tuesday 1 October 2013.

Suspension of Shares

The listing of the Company's Shares will be suspended at 7.30 a.m. this
morning.

Capitalised terms used in this announcement have the same meaning as in the
Circular.

Enquiries:

Miton Income Opportunities Trust PLC
Tom Bartlam
07788 911 184

Cenkos Securities plc
Sapna Shah
020 7397 1922

Cenkos Securities plc, which is authorised and regulated in the United Kingdom
by the Financial Conduct Authority, is acting for the Company andfor no-one
else in connection with the contents of this announcement, and will not be
responsible to anyone other than the Company for providing the protections
afforded to clients of Cenkos Securities plcnor for providing advice in
connection with the contents of this announcement or any other matter referred
to herein. Cenkos Securities plcis not responsible for the contents of this
announcement. This does not exclude or limit any responsibilities which Cenkos
Securities plcmay have under the Financial Services and Markets Act 2000 or the
regulatory regime established thereunder.

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