Interim Management Statement

Matrix Income & Growth 4 VCT plc (the "Company")                

                         INTERIM MANAGEMENT STATEMENT                          

                     For the quarter ended 31 October 2010                     

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Matrix Income & Growth 4 VCT plc presents an Interim
Management Statement for the quarter ended 31 October 2010. 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

                                               31 October 2010    31 July 2010
                                                                              
Net assets attributable to shareholders            £24,321,573     £23,309,955
                                                                              
Shares in issue                                     20,961,687      21,027,687
                                                                              
Net asset value per Ordinary Share                     116.03p         110.85p
                                                                              
Cumulative dividends paid per Ordinary Share            17.70p          17.70p
                                                                              
Total return per share (net asset value basis)         133.73p         128.55p
since inception                                                               

DIVIDEND

An interim dividend of 1 pence per share was paid to shareholders on 5 November
2010 to shareholders on the register on 15 October 2010.

DIVIDEND INVESTMENT SCHEME

Shareholders that elected to participate in the dividend investment scheme were
allotted new ordinary shares in the Company at a price of 98.8 pence per share
on 18 November 2010, in respect of the above dividend. A total of 13,241
ordinary shares were issued.

NEW INVESTMENTS

During the quarter the Company made the following investments:

In October, the Company completed a £1 million investment in Aust Recruitment
Group Limited to support the management buyout (MBO) of RDL Corporation
Limited. RDL is a European recruitment provider within the pharmaceutical,
business intelligence and IT sectors based in London and Woking. The company
was established in 1992 and employs 70 staff. It sources staff for over 300
major companies, matching niche professionals with demanding contract
assignments and staff positions.

The Company has made two further investments since the quarter end:

In December, the Company completed a £346,488 investment in Faversham House
Holdings Limited to support the MBO of Faversham House Group Limited. Faversham
House is a business to business media company focussing on environment and
sustainability, visual communications and building services. The company offers
market leading magazines alongside exhibitions and online resources.

The Company invested £200,000 for shares in Omega Diagnostics Group plc. Based
in Alva, Scotland this company provides high quality invitro diagnostics
products for use in hospitals, blood banks, clinics and laboratories in over
100 countries and specialises in the areas of food intolerance, autoimmune and
infectious diseases.

DIVESTMENTS

During the quarter Westway Services and ATG Media prepaid £45,760 and £111,111
respectively of loan stock to the Company.

OFFER FOR SUBSCRIPTION

On 12 November 2010 the Company, Matrix Income & Growth VCT plc and The Income
& Growth VCT plc launched a 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 "Offer"). The Offer is open to new and existing shareholders and
will close on 30 April 2011 unless fully subscribed or otherwise extended at
the discretion of the directors.

Further details are available at www.matrixvcts.co.uk.

SHARE BUY-BACKS

The Company bought back 66,000 of its own Ordinary Shares at a price of 99.0
pence per share during the period. A further 28,750 Ordinary Shares were bought
back after the period end at a price of 99.0 pence per share.

For further information, please contact:

Ross Lacey, for Matrix Private Equity Partners LLP, Company Secretary: 020 3206
7000.

ENDS

DISCLAIMER

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.