Offer Update - Extension of Offer

JOINT ANNOUNCEMENT                               

Matrix Income & Growth VCT plc, Matrix Income & Growth 4 VCT plc and The Income
& Growth VCT plc

Matrix VCTs Linked Offer for Subscription 2012 - Extension of Offer

The Boards of Matrix Income & Growth VCT plc, Matrix Income & Growth 4 VCT plc
and The Income & Growth VCT plc ("the Companies") are pleased to announce that
the Matrix VCT Linked Offer for Subscription 2012 for new ordinary shares of 1p
each in the capital of each of the Companies to raise, in aggregate, up to £21
million before expenses (the 'Offer'), which was expected to close on 30 April
2012, has been extended with a final closing due to be at 12 noon on 30 June
2012, unless fully subscribed earlier (subject to the absolute discretion of
the Directors).

The Offer is open to existing shareholders and new investors. Investors'
subscriptions will be divided equally between each of the Companies.

Shares issued after 5 April 2012 will allow for qualifying investors to apply
for tax relief in the 2012/13 tax year. Application forms included with the
securities note dated 20 January 2012 can continue to be used.

Funds raised under the Offer will be used by each of the Companies, alongside
their existing funds, to make investments in accordance with their existing
investment policies, maintain liquidity and enable payment of dividends and
costs without reducing the overall amounts available for investment.

A total of £13.7 million has been raised under the Offer to date.

Full details of the Offer are contained in the summary, securities note and
registration document, which together constitute a prospectus ("the
Prospectus") and a supplementary prospectus issued on 23 March 2012.

A copy of the prospectus and further details of the Offer can be found on
www.matrixvcts.co.uk or by visiting the websites of each of the individual
companies in the Offer:

www.migvct.co.uk

www.mig4vct.co.uk

www.incomeandgrowthvct.co.uk

For further information, please contact:

Investment Adviser to the Companies

Matrix Private Equity Partners LLP

Rob Brittain

Telephone: [phone]

Jeff Cornish

Portunus Investment Solutions Limited

Tel: [phone]