Offer Update and Issue of Supplementary Prospectus

JOINT ANNOUNCEMENT                               

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

Offer Update and Issue of Supplementary Prospectus

The boards of Matrix Income & Growth VCT plc, Matrix Income & Growth 4 VCT plc
and The Income & Growth VCT plc ("the Companies") announce that they have
published a supplementary prospectus ("the Supplementary Prospectus") relating
to the 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 Supplementary Prospectus refers to the publication of The Income & Growth
VCT plc's annual report and accounts for the year ended 30 September 2010 ("I&G
Accounts"), certain information from which is incorporated by reference into
the Supplementary Prospectus.

Copies of the Supplementary Prospectus and the I&G Accounts have been submitted
to the Financial Services Authority and will shortly be available for
inspection at the National Storage Mechanism, which is located at:

http://www.hemscott.com/nsm.do.

Copies of the Supplementary Prospectus are also available from the Companies'
respective websites:

  * www.migvct.co.uk
   
  * www.mig4vct.co.uk
   
  * www.incomeandgrowthvct.co.uk
   
Copies of the I&G Accounts are also available on the aforementioned website of
The Income & Growth VCT plc.

For further information, please contact:

Investment Manager to the Companies

Matrix Private Equity Partners LLP

Rob Brittain

Telephone: [phone]