Share Class Merger & Result of EGM

MATRIX INCOME & GROWTH 2 VCT PLC

Share Merger

10 September 2010

This announcement is made by Matrix Income & Growth 2 VCT plc ("the Company")
in connection with the merger of the share classes of the Company ("Share
Merger"), details of which were contained in the Company's circular to
shareholders ("the Circular") dated 13 August 2010.

The board of directors of the Company ("the Board") is pleased to advise that
the resolutions proposed at the extraordinary general meeting of the Company
held on 9 September 2010 and the separate class meetings held on 10 September
2010 were duly passed to be able to implement and effect the Share Merger.

By way of implementation of the Share Merger, the ordinary shares of 1p each
("Existing Ordinary Shares") have been redesignated as 9,311,376 C ordinary
shares of 1p each ("C Shares") and 1,947,957 deferred shares of 1p each
("Deferred Shares") based on a ratio of 0.82701277. The C Shares have
subsequently been redesignated as ordinary shares ("Ordinary Shares"). The
Company has also bought back the 1,947,957 Deferred Shares arising on the Share
Merger for an aggregate price of 1p.

Following the Share Merger, there are in aggregate 26,657,715 Ordinary Shares
in issue.

Application will shortly be made for the existing listings of the Company's
shares to be amended to reflect the Share Merger. It is expected that such
amendment will become effective on 13 September 2010.

For further enquiries please contact:
Rob Brittain of Matrix-Securities Limited
Company Secretary
Telephone: [phone]