Interim Management Statement

Matrix Income & Growth 4 VCT plc (the Company)

                         INTERIM MANAGEMENT STATEMENT                          

                      For the period ended 30 April 2008                       

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                                30 April 2008   31 January 2008
                                                                               
Net assets attributable to shareholders           £23,734,669       £24,067,317
                                                                               
Shares in issue                                    20,499,199        20,499,199
                                                                               
Net asset value per Ordinary Share               115.78 pence      117.41 pence
                                                                               
Total net asset value return per share           127.23 pence      128.86 pence
since inception                                                                

SHARE BUY-BACKS

There were no share buybacks in the quarter.

NEW INVESTMENTS

The Company made one further investments in the quarter, investing £458,837 in
Plastic Surgeon Holdings Limited, which provides snagging and finishing
services to the domestic and commercial property sectors.

DIVESTMENTS

There was one small divestment in the quarter, as VSI Holdings Limited made a
partial repayment of its loan stock, realising £71,818.

PAYMENT OF FINAL DIVIDEND

At the Company's Annual General Meeting on 21 May, shareholders approved the
payment of a final dividend for the year ended 31 January 2008 of 1.25 pence
per share, to be paid on 11 June 2008.

For further information, please contact:

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