Issue of Equity

Matrix Income & Growth VCT plc

7 July 2011

Issue of Equity

The Company announces that on 6 July 2011 it allotted and issued 171,057 new
Ordinary Shares of 1p each at a price of 95.3 pence per share.

Application has been made for the new Ordinary Shares to be admitted to the
Official List of the UK Listing Authority and dealings are expected to commence
on 12 July 2011.

Following this allotment the issued share capital of the Company is 43,647,293
Ordinary Shares.

These new shares in the Company have been issued subsequent to the linked offer
for subscription with Matrix Income & Growth 4 VCT plc and The Income & Growth
VCT plc to raise up to £21 million, launched on 12 November 2010 ("the Offer").
A total of £16.2 million was raised under the Offer which closed on 30 June
2011.

For further information please contact:

Robert Brittain at Matrix Private Equity Partners LLP, Company Secretary, on
020 3206 7000.