Interim Management Statement

The Income & Growth VCT plc ("the Company")                  

                         INTERIM MANAGEMENT STATEMENT                          

                      For the quarter ended 30 June 2010                       

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, The Income & Growth VCT plc presents an Interim Management
Statement for the quarter ended 30 June 2010. The statement also includes
relevant financial information between the end of the period and the date of
this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                           At 30 June 2010     At 31 March 2010
                                                                               
Net assets attributable to                     £36,055,149          £35,730,150
shareholders                                                                   
                                                                               
Shares in issue                                 37,453,635           37,929,970
                                                                               
Net asset value (NAV) per share *                  96.27 p              94.20 p
                                                                               
Cumulative dividends paid to date per               0.50 p               0.50 p
share                                                                          
                                                                               
Total return per share since inception             96.77 p              94.70 p
(NAV basis)*                                                                   
                                                                               
--------------------------------------                                         
                                                                               
* NAV per share includes negative                 (0.12) p             (0.50) p
current year income of                                                         

NEW INVESTMENTS and DIVESTMENTS

The Company made no new investments or divestments during the quarter.

On 30 June 2010 the company received a loan stock repayment of £45,697 from
DiGiCo Europe Limited plus a premium of £3,403.

After the quarter-end in July, the Company invested a further £1,717 into
Monsal Holdings as part of a refinancing that introduced FourWinds Capital as a
new investor. FourWinds has provided £4 million (of a total commitment of £14
million) to Monsal at a valuation significantly greater than our original cost
and previous valuation. Monsal has also repaid £47,158 of the Company's loan
stock as part of the investment round. This repayment, together with the small
follow-on investment referred to above, brings the VCT's total investment in
this company to £426,164.

This additional funding will be used to expand Monsal's core anaerobic
digestion solutions business in the UK wastewater industry and provide
infrastructure funding for bio-gas energy from waste projects.

SHARE BUY-BACKS

During the quarter the Company bought back a total of 476,335 of the Company's
own shares at an average price of 72.61 pence per share. Following the end of
the quarter the Fund bought back a further 196,029 shares at an average price
of 76.39 pence per share.

For further information, please contact:

Sarah Penfold, for Matrix-Securities Limited, Company Secretary: 020 3206 7000