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
published a second supplementary prospectus ("the Second 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 Second Supplementary Prospectus refers to the publication of Matrix Income
& Growth VCT plc's annual report and accounts for the year ended 31 December
2010 ("MIG Accounts"), certain information from which is incorporated by
reference into the Second Supplementary Prospectus.

Copies of the Second Supplementary Prospectus and the MIG 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 Second 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 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]