Interim Management Statement

Matrix Income & Growth VCT plc (the Company)                  

                         INTERIM MANAGEMENT STATEMENT                          

                      For the quarter ended 31 March 2009                      

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 31 March 2009. 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 31 March 2009   At 31 December 2008
                                                                               
Net assets attributable to                     17,880,438            17,998,562
shareholders                                                                   
                                                                               
Shares in issue                                20,798,925            20,798,925
                                                                               
Net asset value per share                          85.97p                86.54p
                                                                               
Cumulative dividends paid per share              15.30p *                15.30p
                                                                               
Total return per share since                      101.27p               101.84p
inception                                                                      
                                                                               
% return on opening net asset value                 7.16%                 7.76%
of 94.5 pence per share on 8                                                   
October 2004                                                                   

* A final income dividend of 1 penny per share in respect of the year ended 31
December 2008 was approved by Shareholders at the Annual General Meeting of the
Company held on Wednesday, 6 May 2009. The dividend will be paid to
Shareholders on 15 May 2009 bringing cumulative dividends paid to 16.30 pence
per share

NEW INVESTMENTS

In January, the Company invested a further £68,433 into Monsal Holdings
Limited.

DIVESTMENTS

No divestments have been made in the quarter.

SHARE BUY-BACKS

The Company did not buy-back any of its own ordinary shares during the quarter
ended 31 March 2009.

After the quarter end, on 9 April 2009, the Company bought back 99,034 Ordinary
Shares at a price of 60.5 pence per share.

For further information, please contact:

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