Interim Management Statement

Matrix Income & Growth 2 VCT plc (the Company)                 

                    UNAUDITED INTERIM MANAGEMENT STATEMENT                     

                      For the quarter ended 31 July 2011                       

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Matrix Income & Growth 2 VCT plc presents an Interim
Management Statement for the quarter ended 31 July 2011. The statement also
includes relevant financial information between the end of the period and the
date of this statement.

NET ASSET VALUE PER SHARE

                                             Ordinary Share Fund               
                                                                               
                                    (formerly C Shares until 10 September      
                                                    2010)                      
                                                                               
                                             31 July 2011   30 April 2011      
                                                                               
Net assets attributable to                    £24,555,429    £ 24,863,968      
shareholders                                                                   
                                                                               
Shares in issue                                25,857,764      25,857,764      
                                                                               
Net asset value per 1p Share:                                                  
                                                                               
- Excluding current year income                   94.28 p         95.89 p      
                                                                               
- Including current year income                   94.96 p         96.16 p      

ANNUAL GENERAL MEETING

All resolutions were duly passed at the Company's Annual General Meeting on 8
September 2011.

DIVIDENDS

No dividends were paid during the quarter.

SHARE BUY-BACKS

There were no share buybacks during the period, but 233,259 shares were bought
back on 23 August 2011 and subsequently cancelled by the Company. The shares
above were bought back for an average price of 62.2 pence per share, at
discounts to the net asset value at the date of each buyback ranging from 40.6
% to 35.3%.

INVESTMENT PORTFOLIO

There have been a number of new investments during the period.

In June 2011, a further £360,265 was invested in the loan stock of ASL
Technology Holdings Limited, making the total investment in ASL Technology
Holdings £1,360,130.

In July 2011, the Company invested £1,160,549 in Fullfield Limited to fund the
management buy-out of Motorclean Limited, £160,549 of which is non-qualifying.
As part of a total potential commitment of £192,000, £51,265 was invested in
two tranches in Monsal Holdings Limited. On 9 August, a further tranche of £
25,632 was invested.

Please note that all the information above is unaudited.

Other than described above, there were no material events during the period and
to the date of this announcement.

For further information, please contact:

Robert Brittain, for Matrix Private Equity Partners Limited, Company Secretary:
020 3206 7102