Offer Update and Issue of Supplementary Prospectus

JOINT ANNOUNCEMENT                               

Matrix Income & Growth VCT plc, Matrix Income & Growth 4 VCT plc and The Income
& Growth VCT plc

Offer Update and Issue of Supplementary Prospectus

The boards of Matrix Income & Growth VCT plc, Matrix Income & Growth 4 VCT plc
and The Income & Growth VCT plc ("the Companies") announce that they have today
published a supplementary prospectus ("the Supplementary Prospectus") relating
to the joint offer for subscription for new ordinary shares of 1p each in the
capital of each of the Companies to raise up to £21 million.

The Supplementary Prospectus refers to the publication of Matrix Income &
Growth VCT plc's annual report and accounts for the year ended 31 December 2011
("the MIG 2011 Accounts"), certain information from which is incorporated by
reference into the Supplementary Prospectus.

Copies of the Supplementary Prospectus and the MIG 2011 Accounts have been
submitted to the Financial Services Authority and will shortly be available for
inspection at the National Storage Mechanism, which is located at:

http://www.hemscott.com/nsm.do

Copies of the Supplementary Prospectus are also available from the Companies'
respective websites:

  * www.migvct.co.uk
   
  * www.mig4vct.co.uk
   
  * www.incomeandgrowthvct.co.uk
   
Copies of the MIG 2011 Accounts are also available on the aforementioned
website of Matrix Income & Growth VCT plc.

For further information, please contact:

Investment Manager to the Companies
Matrix Private Equity Partners LLP
Rob Brittain
Telephone: [phone]