Interim Management Statement

Matrix Income & Growth 4 VCT plc (the Company)

                         INTERIM MANAGEMENT STATEMENT                          

                     For the period ended 31 October 2007                      

SHARE BUY-BACKS

During the period the Company bought back a total of 82,850 Ordinary Shares at
a price of £1.0025 pence per share.

NEW INVESTMENTS

The Company made two further investments in the quarter. A further £445,506 was
invested in Blaze Signs Holdings Ltd at a higher value than the first tranche
invested in April 2006, and £772,451 in Focus Pharmaceutical Holdings Limited,
a distributor of generic drugs.

DIVESTMENTS

There were no divestments in the quarter.

NET ASSET VALUE PER SHARE

                                            31 October 2007   31 January 2007  
                                                                               
Net assets attributable to shareholders     £24,788,626       £9,772,148       
                                                                               
Shares in issue                             20,588,091        8,399,337        
                                                                               
Net asset value per Ordinary Share          120.4 pence       116.34 pence     

For further information, please contact:

Robert Brittain, for Matrix-Securities Limited, Company Secretary: 020 7925
3300