Interim Management Statement

Matrix Income & Growth 4 VCT plc (the Company)

                         INTERIM MANAGEMENT STATEMENT                          

                     For the quarter ended 31 October 2008                     

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Matrix Income & Growth 4 VCT plc presents an Interim
Management Statement for the quarter ended 31 October 2008. The statement also
includes relevant financial information between the end of the period and the
date of this statement.

NET ASSET VALUE PER SHARE

                                               31 October 2008     31 July 2008
                                                                               
Net assets attributable to shareholders             21,729,860      £22,843,188
                                                                               
Shares in issue                                     20,247,799       20,317,925
                                                                               
Net asset value per Ordinary Share                     107.32p           112.4p
                                                                               
Cumulative dividends paid                               13.70p           12.70p
                                                                               
Total net asset value return per share since            121.02          125.10p
inception                                                                      

NEW INVESTMENTS

In October 2008, the Company invested £1 million into ATG Media Holdings
Limited, publishers of the Antique Trade Gazette.

Since the quarter-end, the Company has invested a further £95,461 into PXP
Holdings Limited (Pinewood Structures).

DIVESTMENTS

There were no divestments in the quarter.

SHARE BUY-BACKS

During the quarter, the Company bought back a total of 70,126 Ordinary Shares
at a price of 101.187 pence per share.

For further information, please contact:

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