Interim Management Statement

Interim Management Statement

Maven Income and Growth VCT 2 PLC (the Company) - quarter ended 31 October 2010

This Interim Management Statement, for the quarter ended 31 October 2010, is provided in accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority and also includes relevant information in respect of the period from 1 November 2010 to the date of issue. This Statement has been prepared solely to provide information in order to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules and should not be relied on by Shareholders, or any other party, for any other purpose.

1. Financial highlights

·; Net Asset Value (NAV)1 per share of 54.7p at 31 October 2010; compared to 53.6p at 31 July 2010;

·; NAV total return2 of 70.3p; compared to 69.2p at 31 July 2010;

·; 94,232 Ordinary Shares bought back for cancellation; and

·; Interim dividend of 1.0p per Ordinary Share paid on 12 November 2010.

1The NAV is unaudited and reflects the closing bid price of quoted securities at 31 October 2010. Unlisted companies are normally valued on a six-monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 July 2010, adjusted for subsequent events where appropriate.

2NAV total return is the sum of NAV per share and dividends paid per share since launch.

2. Investments and disposals

Two new unlisted investments were completed during the quarter ended 31 October 2010 and, including the provision of support to two existing portfolio companies, a total of £574,000 was invested.

In the same period, the full and partial disposal of five AIM quoted investments generated proceeds of £580,000 against a cost of £516,000; the redemption of loan stock and preference shares by six unlisted companies generated proceeds of £190,000 against a cost of £176,000; and the striking off of Elevation Events, a company previously quoted on AIM, resulted in a previously recognised loss of £156,000 being realised.

3. Recent developments

Between 31 October 2010 and the date of this statement, investments totalling £780,000 were made in six unlisted companies.

During the same post quarter-end period, £179,000 of loan stock in an unlisted investment was redeemed at par; £7,000 was received in respect of deferred consideration from the previous disposal of two unlisted investments and the disposal of shares in an AIM quoted company generated proceeds of £102,000 against a cost of £72,000.

4. Linked VCT Offer

On 18 November 2010, in a joint statement issued with Maven Income and Growth VCT PLC, Maven Income and Growth VCT 3 PLC and Maven Income and Growth VCT 4 PLC, the Company announced the launch of a Linked Offer of New Ordinary Shares. The New Ordinary Shares will be issued at prices reflecting the most recently published NAVs of the existing Ordinary Shares and the Offer will close on 5 April 2011 in respect of the 2010/11 tax year and on 29 April 2011 in respect of the 2011/12 tax year.

Other than as described above and the impact of movements related to the prices of shares in quoted securities, the Board is not aware of any material events during the period from 1 August 2010 to 31 October 2010, or in the period from 1 November 2010 to the date of this announcement, which would have had a material impact on the financial position of the Company.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

10 December 2010