Interim Management Statement

Matrix Income & Growth 4 VCT plc (the "Company")                

                         INTERIM MANAGEMENT STATEMENT                          

                      For the quarter ended 30 April 2012                      

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Matrix Income & Growth 4 VCT plc presents an Interim
Management Statement for the quarter ended 30 April 2012. The statement also
includes relevant financial information between the end of the period and the
date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                                 30 April 2012 31 January 2012
                                                                              
Net assets attributable to shareholders            £33,769,192     £28,322,453
                                                                              
Shares in issue                                     28,748,870      25,201,557
                                                                              
Net asset value per Ordinary Share                     117.46p         116.70p
                                                                              
Cumulative dividends paid per Ordinary Share            21.70p          21.70p
                                                                              
Total return per share (net asset value basis)         139.16p         138.40p
since inception                                                               

ANNUAL GENERAL MEETING

All resolutions were duly passed at the Company's Annual General Meeting on 13
June 2012.

Shareholders approved the introduction of electronic communication which will
be applicable for the Half-Yearly Report and future communication to
shareholders.

DIVIDEND

No dividends were paid during the quarter, but an interim dividend of 5 pence
per share (1.5 pence from income and 3.5 pence from capital) was paid for the
year ended 31 January 2012 on 6 June 2012.

MATRIX VCTs' LINKED OFFER FOR SUBSCRIPTION

During the quarter the Linked Offer launched in January 2012 with two other
Matrix advised VCTs, has raised a further £4.15 million of net funds. 3,546,964
Ordinary Shares were allotted at a price of 123.5 pence per share in the
quarter. On 10 May 2012 a further 453,297 Ordinary Shares were allotted at
123.5 pence per share, bringing total net funds raised under the Offer to £4.67
million.

The Board expects that one further allotment under this Offer will occur in
early July. The underlying NAV per share to be used will therefore be 112.46p
(117.46p as above less the 5p dividend paid on 6 June 2012) giving an offer
price of 119.1p per share.

SHARE BUY-BACKS

There were no share buybacks during the period. 150,000 Ordinary Shares at a
price of 105.00p per share, and 175,000 Ordinary Shares at a price of 100.50p
per share, were bought back after the period end. There were 28,877,167
Ordinary Shares in issue at the date of this announcement.

For further information, please contact:

Robert Brittain, for Matrix Private Equity Partners LLP, Company Secretary: 020
3206 7000.

ENDS

DISCLAIMER

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.