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Interim Management Statement

17th Mar 2009 16:55

Matrix Income & Growth 2 VCT plc (the Company)

UNAUDITED INTERIM MANAGEMENT STATEMENT For the quarter ended 31 January 2009

FOLLOW-ON INVESTMENTS

The Company made two follow-on investments into existing portfolio companies:

Date Name of company Ordinary Share Fund C Share Fund Total investment November PXP Holdings £96,245 £67,191 £163,4362008 Limited (Pinewood Structures) Designer, manufacturer and supplier of timber frames for housing January Monsal Holdings - £85,450 £85,4502009 Limited Engineering services to water and waste sectors

NET ASSET VALUE PER SHARE

Ordinary Share Fund C Share Fund 31 January 31 October 31 January 31 October 2009 2008 2009 2008

Net assets attributable £8,198,678 £8,854,954 £7,985,474 £8,336,391 to shareholders

Shares in issue 11,269,333 11,375,533 9,145,990 9,145,990 Net asset value per 1p Share: - Excluding current year 70.76 p 76.75 p 85.24 p 89.87 pincome - Including current year 72.75 p 77.84 p 87.31 p 91.15 pincome SHARE BUY-BACKS

The Company bought back 106,200 Ordinary Shares at a price of 36p per share. No C Shares were bought back during the period.

After the period end, 10,000 Ordinary Shares were bought back at 42p per share.

OFFER FOR SUBSCRIPTION

On 19 January 2009 the Company launched an Offer for Subscription for new C Shares to raise £10 million, with an over-allotment facility to raise a further £5 million. Copies of the Securities Note can be found at http://www.matrixgroup.co.uk/asset_management/vcts/mig_2_vct_c_share.

DIVIDENDS

The Board will determine what final dividends to propose when it is considering the annual accounts for the year ending 30 April 2009. The Board expects however, that, subject to unforeseen circumstances, the dividends payable on the Ordinary Shares and C Shares will not be less than 1p per share. It is the Board's intention that all shareholders in the C Share Fund at that time will be entitled to such dividends as may be so proposed for the C Share Fund.

Please note that all the information above is unaudited.

For further information, please contact:Robert Brittain, for Matrix-Securities Limited, Company Secretary: 020 3206 7102

MATRIX INCOME & GROWTH 2 VCT PLC

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