Interim Management Statement

Matrix Income & Growth VCT plc (the Company)

                         INTERIM MANAGEMENT STATEMENT                          

                      For the period ended 31 March 2008                       

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                                At 31 March      At 31 December
                                                                               
                                                       2008                2007
                                                                               
Net assets attributable to shareholders         £24,623,574         £25,727,574
                                                                               
Shares in issue                                  21,875,715          22,009,752
                                                                               
Net asset value per Ordinary Share             112.56 pence        116.89 pence
                                                                               
Total net asset value return per share         116.76 pence        121.09 pence
since inception                                                                
                                                                               
% return on opening net asset value of                23.6%               28.1%
94.5 pence per share                                                           

NEW INVESTMENTS

The Company made no further investments in the quarter itself. Since the
quarter end, £390,000 has been invested in Plastic Surgeon Limited, which
provides repair services to the UK construction and building sector.

DIVESTMENTS

The investment in BBI Holdings plc was divested in the quarter.

SHARE BUY-BACKS

During the period the Company bought back a total of 134,037 Ordinary Shares at
a price of 102.287 pence per share.

For further information, please contact:

Robert Brittain, for Matrix-Securities Limited, Company Secretary: 020 7925 3300