Interim Management Statement

Matrix Income & Growth VCT plc (the Company)                  

                         INTERIM MANAGEMENT STATEMENT                          

                    For the quarter ended 30 September 2010                    

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Matrix Income & Growth VCT plc presents an Interim
Management Statement for the quarter ended 30 September 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

                                     At 30 September 2010       At 30 June 2010
                                                                               
Net assets attributable to                    £37,465,599           £35,160,224
shareholders                                                                   
                                                                               
Shares in issue                                40,474,574            40,767,266
                                                                               
Net asset value per Ordinary                        92.6p                 86.3p
Share                                                                          
                                                                               
Cumulative dividends paid                           21.3p                 21.3p
                                                                               
Total net asset value return per                   113.9p                107.6p
share since inception                                                          
                                                                               
% return on opening net asset                       20.5%                 13.9%
value of 94.5 pence per share                                                  

NEW INVESTMENTS and DIVESTMENTS

In July, the Company invested a further £1,717 into Monsal Holdings Limited as
part of a £3 million expansion fundraising that introduced FourWinds Capital as
a new investor. Monsal also repaid £130,250 of the Company's loan stock as part
of the investment round. This additional funding will be used to expand
Monsal's core anaerobic digestion solutions business in the UK wastewater
industry and provide infrastructure funding for bio-gas energy from waste
projects.

Following the end of the quarter the Company used its existing investment of £2
million in the acquisition vehicle Aust Construction Investors Limited
(subsequently re-named Aust Recruitment Group Limited) to make a new investment
of £1.56 million to support the management buy-out of RDL Corporation Limited.
RDL specialises in permanent and contract recruitment for the pharmaceutical
and business intelligence markets through two operating subsidiaries, SEC
Recruitment Limited and M3 Europe Limited.

Westway Services Holdings (2010) Limited (formerly MC440 Limited) repaid £
74,079 of its loan stock in September. Following the quarter-end ATG Media
Holdings Limited repaid £181,790 of its loan stock

SHARE BUY-BACKS

During the quarter ended 30 September 2010, the Company bought-back 292,692 of
its own Ordinary Shares at an average price of 71.4 pence per share.

Following the end of the quarter the Company bought back a further 88,371 of
its own Ordinary Shares at a price of 76.5 pence per share.

LINKED MATRIX FUNDRAISING

The Company intends to launch a joint fundraising with The Income & Growth VCT
plc and Matrix Income & Growth 4 VCT plc. The funds raised will spread fixed
costs over a larger asset base. Details of the Offer will be posted to
shareholders shortly.

For further information, please contact:

Sarah Penfold, for Matrix Private Equity Partners LLP, Company Secretary: 020
3206 7000.