Interim Management Statement

Mobeus Income & Growth 2 VCT plc (the Company)                 

                    UNAUDITED INTERIM MANAGEMENT STATEMENT                     

                      For the quarter ended 31 July 2012                       

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Mobeus Income & Growth 2 VCT plc (formerly Matrix Income &
Growth 2 VCT plc) presents an Interim Management Statement for the quarter
ended 31 July 2012. The statement also includes relevant financial information
between the end of the period and the date of this statement.

NET ASSET VALUE PER SHARE

                                             Ordinary Share Fund               
                                                                               
                                    (formerly C Shares until 10 September      
                                                    2010)                      
                                                                               
                                             31 July 2012   30 April 2012      
                                                                               
Net assets attributable to                    £24,899,783    £ 24,526,639      
shareholders                                                                   
                                                                               
Shares in issue                                24,847,465      24,847,465      
                                                                               
Net asset value per Ordinary Share               100.21 p         98.71 p      
                                                                               
Cumulative dividends paid per                     14.00 p         14.00 p      
Ordinary Share                                                                 
                                                                               
Total return per share (net asset                114.21 p        112.71 p      
value basis)                                                                   

ANNUAL GENERAL MEETING

All resolutions were duly passed at the Company's Annual General Meeting on 6
September 2012.

DIVIDENDS

No dividends were paid during the quarter.

SHARE BUY-BACKS

There were no share buybacks during the period, but 80,160 shares were bought
back on 17 August 2012 and subsequently cancelled by the Company. The shares
above were bought back for a price of 68.41 pence per share, at a discount to
the net asset value at the date of the buyback of 31.01%.

INVESTMENT PORTFOLIO

On 15 June 2012, a further £57,143 was invested in PXP Holdings Limited.

On 20 July 2012, the Company made a new investment of £907,762 to support the
Management Buy-Out of Oval (2253) Limited, trading as Tessella, a technical
consultancy for the life sciences, energy and consumer goods sectors. The
Company used its existing investment of £1 million in the acquisition vehicle
Sawrey to finance the transaction and therefore received back a repayment of £
93,238.

On 31 May 2012, the Company realised its entire investment in Iglu.com Holidays
Limited through a sale to Growth Capital Partners for net cash proceeds of £
1,455,265. This realisation contributed to total cash proceeds of £2,530,414 to
the Company over the life of the investment, representing a 2.5 times return on
the Company's original investment of £1 million.

LOAN STOCK REPAYMENTS

In July, Fullfield Limited made a partial repayment of its loan stock of £
77,370 and Blaze Signs Holdings Limited repaid £267,118 of its loan stock,
together with a premium of £61,642.

Please note that all the information above is unaudited.

Other than described above, there were no material events during the period and
to the date of this announcement.

For further information, please contact:

Robert Brittain, for Mobeus Equity Partners LLP, Company Secretary: 020 7024
7600