Issue of Equity

Matrix Income & Growth 2 VCT plc (the "Company")

5 May 2009

Issue of Equity

Offer for Subscription of C Shares to raise up to £10 million

The Company announces that on 5 May 2009 it allotted and issued 572,972 new C
Ordinary Shares of 1p each ("C shares") under the Offer for Subscription ("the
Offer") at a price of 92.39p per share. Dealings in the new C Shares are
expected to commence on 8 May 2009.

Following this allotment the issued share capital of the Company is 11,259,333
Ordinary Shares of 1p each and 17,483,358 C Shares.

For further information please contact:
Robert Brittain at Matrix-Securities Limited, Company Secretary, on 020 3206
7000.