Interim Management Statement

Mobeus Income & Growth 2 VCT plc ("the Company")                

                    UNAUDITED INTERIM MANAGEMENT STATEMENT                     

                     For the quarter ended 31 January 2014                     

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Mobeus Income & Growth 2 VCT plc presents an Interim
Management Statement for the quarter ended 31 January 2014. 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 Shares         
                                       31 January 2014  31 October 2013
                                                                       
Net assets attributable to                 £29,122,806      £27,269,875
shareholders                                                           
                                                                       
Shares in issue                             24,421,418       23,920,716
                                                                       
Net asset value per 1p Share:                                          
                                                                       
- Including current year income                119.25p          114.00p
                                                                       
- Excluding current year income                114.56p          110.51p

DIVIDENDS

No dividends were paid during the quarter.

The Board has already declared an interim dividend of 4.9p per share for the 11
months ending 31 March 2014. The dividend will be paid on 21 March 2014 to
shareholders on the register on 28 February 2014, along with 0.1p, being a
further interim income dividend for the year ended 30 April 2013, making a 5p
per share dividend in total.

SHARE BUY-BACKS

During the quarter the Company bought back 350,000 Ordinary Shares of 1p each
at 101.0 pence per share. Since the period end a further 125,128 Ordinary
Shares of 1p each have been bought back at 97.5 pence per share, after the
shares went ex-dividend.

INVESTMENT ACTIVITY

In November 2013, the Company completed a new investment of £1,330,202
(including £1 million from the acquisition vehicle Culbone Trading Limited) to
support the MBO of Virgin Wines Online Limited, one of the UK's leading online
retailers of wine.

In January 2014, the Company completed a further new investment of £757,101 to
provide development capital to Bourn Bioscience Limited, one of the UK's
leading IVF/assisted fertility businesses with a dominant presence in East
Anglia.  In the same month, it also invested £606,000 in South-West Services
Investment Limited, a company that aims to acquire a business to business
services company in the South-West of England.

After the year end, the Company also invested £608,000 in Manufacturing
Services Investment Limited, a company that aims to acquire a UK based
manufacturing company.

DIVESTMENTS

In November and December 2013, the VCT received final repayments of loan stock
from Faversham House Holdings Limited which generated net proceeds of £127,000
(including a premium of £16,000). The Company has now fully realised this
investment, from which it has received 93% of original cost of £375,000, on a
total return basis.

In January 2014, the VCT fully realised its investment in Omega Diagnostics
Plc, realising net proceeds of £281,000. This realisation generated a gain over
original cost of £67,000.

During the quarter, the Company received loan stock repayments totalling £
221,000 (including premia) from Tessella Holdings Limited and Focus Pharma
Holdings Limited.

MOBEUS VCTs' JOINT OFFER FOR SUBSCRIPTION

Together with Mobeus Income & Growth VCT plc, The Income & Growth VCT plc and
Mobeus Income & Growth 4 VCT plc, the Company is participating in the Mobeus
VCTs' Linked Offer. This was launched on 28 November 2013 to raise up to £24
million across the four VCTs, of which up to £6 million will be allocated to
the VCT ("the Offer").

The Offer will remain open until 12.00 noon on 30 April 2014 (4 April 2014 in
respect of the current tax year), although the Directors of the four VCTs
reserve the right to extend the closing date at their discretion.

Applications totalling £16.9 million have been received under the Offer to
date, £4.23 million of which are in respect of this Company.

ISSUE OF EQUITY

In respect of the applications above received up to 11 February 2014, the
Company has to date made two allotments of Ordinary Shares. Firstly, it
allotted 850,702 shares under the Offer at prices between 117.83005 and
120.33116 pence per share on 9 January 2014, raising net funds of £970,956. It
allotted a further 1,962,756 shares under the Offer at prices between 117.83005
and 123.57885 pence per share on 11 February 2014, raising net funds of
£2,239,787.

Please note that all the information above is unaudited.

Other than as 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 Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600