Issue of Equity

Matrix Income & Growth VCT plc

10 May 2012

Issue of Equity

The Company announces that on 10 May 2012 it allotted and issued 553,180 new
Ordinary Shares of 1p each at a price of 101.2 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 15 May 2012.

Following this allotment the issued share capital of the Company is 46,315,305
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 20 January 2012 ("the Offer").

A total of £14.5 million has been raised to date under the Offer of which £4.8
million has been raised by Matrix Income & Growth VCT plc.

The Offer will remain open until 30 June 2012.

For further information please contact:

Sarah Penfold at Matrix Private Equity Partners LLP, Company Secretary, on 020
3206 7000.