Interim Management Statement

Matrix Income & Growth 4 VCT plc (the Company)

                         INTERIM MANAGEMENT STATEMENT                          

                      For the period ended 30 April 2007                       

OFFER FOR SUBSCRIPTION

The Board is pleased to report that a total of £15.4 million was raised under
the Offer for Subscription launched on 2 November 2006. During the period, a
total of 13,006,193 new Ordinary Shares were allotted in respect of the Offer
which closed on 5 April 2007.

SHARE BUY-BACKS

During the period the Company bought back a total of 35,000 Ordinary Shares at
a price of 93 pence per share.

NEW INVESTMENTS

The Company made a small additional investment of £4,871 into Mobile & Wireless
Limited in February 2007. This company has since changed its name to Expansys
plc and was admitted to AIM on 11 April 2007.

DIVESTMENTS

Name of Company              Sale           Original          Valuation        
                                                                               
                             proceeds       cost              31 January 2007  
                                                                               
Maven Management Limited     £428,655       £175,000          £482,206         

NET ASSET VALUE PER SHARE

                                            30 April 2007     31 January 2007  
                                                                               
Net assets attributable to shareholders     £24,849,563       £9,772,148       
                                                                               
Shares in issue                             21,370,530        8,399,337        
                                                                               
Net asset value per Ordinary Share          116.28 pence      116.34 pence     

For further information, please contact:

Sarah Penfold, for Matrix-Securities Limited, Company Secretary: 020 7925 3300