New Investments

Matrix e-Ventures Fund VCT PLC
2 April 2001


Matrix e-Ventures Fund VCT Plc

Matrix  e-Ventures  Fund VCT Plc (the  'Company')  announces
that  during  March it invested in three new  companies  and
made  one  follow on investment taking the total  number  of
investee  companies  to 10 with a total investment  cost  of
£5.3 million.

Investments made by the Company during March are as follows:

*    Magicalia Ltd ('Magicalia')

Magicalia, formed in 1999, creates community websites  which
focus on participation sports such as cycling, golf, fishing
and  sailing. The first website, Bikemagic, was launched  in
September  1999  and  five  more  sites  have  been   added.
Magicalia has raised £1 million of which £400,000  has  been
provided by the Company as development capital. The proceeds
from  the fund raising will be utilised to develop  the  six
existing sites and to launch two new sites.

Currently  Magicalia  has over 29,000 registered  users  and
around 1 million page views per month. Its long term aim  is
to  develop  around 20 sites to create a broad based  sports
and leisure internet publishing business.

*    Xpert Client Systems Limited ('Xpert')

Xpert  is  a  provider of software asset  management  tools.
Since  October 2000 the company has developed products based
on innovation technology including automatic recognition and
data  reduction techniques and a client based,  rather  than
server  based,  approach.  Using this  technology  its  core
product,  Desktop Xpert, automatically builds a  profile  of
the  actual usage of software by each user and compares this
with the inventory of software installed on each PC and  the
licences  owned.  This enables customers  to  monitor  legal
compliance  with  their software licences. Xpert's  products
are  installed on 25,000 PCs in over 100 companies including
Racal, Volvo, Fujitsu and Sony.

The  Company  has invested £500,000 in a £1.75 million  fund
raising  the  proceeds of which will  be  used  for  working
capital.

*    Flightstore Inflight Retailing Limited ('Flightstore')

Flightstore,   founded  in  early  2000,  uses   established
technology  and proven software skills to create  electronic
airline   branded  shopping  malls  with  branded  retailers
capable  of delivering their goods internationally.  Airline
passengers  will  be  able to browse the electronic  stores,
which will contain information and entertainment as well  as
products  and  services for sale. Flightstore  will  receive
revenues   from   commission  on  sales,   advertising   and
information  management.  The  market  is  growing  from  50
million passengers travelling on suitably equipped long haul
aircraft  in  2000 to a forecast 400 million  passengers  in
2006.

Matrix  e-Ventures has invested £750,000 of start up capital
out of a £3 million total fund raising.

*    Sit-up.com Limited.

Matrix  e-Ventures has already invested £500,000  in  this
company  which is creating a range of programmes for digital
TV  and  the  internet.  A further  £150,000  has  now  been
invested  as  part of a further £5 million fund  raising  in
which Telewest is making a major investment. Growth will  be
driven by the promising future for home TV shopping with the
penetration of digital TV set to reach in excess of  40%  of
all households by the end of 2004.