Interim Management Statement

Matrix Income & Growth 2 VCT plc (the Company)

                    UNAUDITED INTERIM MANAGEMENT STATEMENT                     

                      For the quarter ended 31 July 2008                       

NEW INVESTMENTS

Date      Name of company     Ordinary Share Fund  C Share Fund           Total
                                                                     investment
                                                                               
July 2008 Barnfield                             -    £1,000,000      £1,000,000
          Management                                                           
          Investments Limited                                                  
                                                                               
This company is seeking to acquire businesses in the food sector.              
                                                                               
July 2008 Derringfield                          -    £1,000,000      £1,000,000
          Limited                                                              
                                                                               
This company is seeking to acquire businesses with potential for information   
technology application.                                                        

NET ASSET VALUE PER SHARE

                            Ordinary Share Fund             C Share Fund       
                                                                               
                         31 July 2008 30 April 2008    31 July 2008 30 April 2008
                                                                         
                                                                               
Net assets attributable   £10,134,979  £11,135,530      £8,765,276   £9,007,361
to shareholders                                                                
                                                                               
Shares in issue            11,491,008   11,491,008       9,145,990    9,145,990
                                                                               
Net asset value per 1p                                                         
Share:                                                                         
                                                                               
- Excluding current year      88.19 p      95.64 p          95.33p      95.83 p
income                                                                         
                                                                               
- Including current year      89.27 p      96.91 p         95.84 p      98.48 p
income                                                                         

SHARE BUY-BACKS

The Company did not buy back any of its own shares during the quarter.

DIVIDENDS

The Ordinary Share Fund paid an income dividend of 1.5p per share and a capital
dividend of 4.5p per share, while the C Share Fund paid an income dividend of
2.5p per share, all on 23 July 2008.

Please note that all the information above is unaudited.

For further information, please contact:
Robert Brittain, for Matrix-Securities Limited, Company Secretary: 020 3206
7102