Issue of Equity - CORRECTION

The Income & Growth VCT plc

10 May 2011

Issue of Equity - Correction to announcement issued on 10 May 2011

The Company announces that on 10 May 2011 it allotted and issued 341,419 new
Ordinary Shares of 1p each at a price of 105.8 pence per share.

Application has been made for the new Ordinary Shares to be admitted to the
Official List of the UK Listing Authority and dealings are expected to commence
on 13 May 2011.

Following this allotment the issued share capital of the Company is 41,283,113
Ordinary Shares.

These new shares in the Company have been issued subsequent to the linked offer
for subscription with Matrix Income & Growth 4 VCT plc and Matrix Income &
Growth VCT plc to raise up to £21 million, launched on 12 November 2010 ("the
Offer"). A total of £15 million has been raised to date under the Offer. The
Offer remains open until 30 June 2011 unless fully subscribed at an earlier
date.

For further information please contact:

Robert Brittain at Matrix Private Equity Partners LLP, Company Secretary, on
020 3206 7000.