Interim Management Statement

Matrix Income & Growth VCT plc (the Company)

                         INTERIM MANAGEMENT STATEMENT                          

                    For the quarter ended 30 September 2008                     

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Matrix Income & Growth VCT plc presents an Interim
Management Statement for the quarter ended 30 September 2008. The
statement also includes relevant financial information between the end of the
period and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                     At 30 September 2008       At 30 June 2008
                                                                               
Net assets attributable to                    £18,991,826           £21,281,357
shareholders                                                                   
                                                                               
Shares in issue                                20,952,725            21,279,171
                                                                               
Net asset value per Ordinary                  90.64 pence          100.01 pence
Share                                                                          
                                                                               
Cumulative dividends paid                     15.30 pence           12.00 pence
                                                                               
Total net asset value return per             105.94 pence          112.01 pence
share since inception                                                          
                                                                               
% return on opening net asset                       12.1%                18.53%
value of 94.5 pence per share                                                  

NEW INVESTMENTS

In July, the Company invested £1 million into Derringfield Limited. After the
period-end, Derringfield Limited invested £859,640 of this sum to support the
MBO of Metropress, publisher of the Antique Trade Gazette.  Derringfield
Limited was subsequently re-named ATG Media Holdings Limited.  The remainder of
the original investment into Derringfield Limited has been returned to the
Company.

DIVESTMENTS

No divestments have been made in the quarter.

SHARE BUY-BACKS

During the quarter ended 30 September 2008 the Company bought back a total of
326,246 Ordinary Shares at a price of 82.2 pence per share .

For further information, please contact:

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

.