Interim Management Statement

Interim Management Statement

Maven Income and Growth VCT 2 PLC (the Company) - quarter ended 31 October 2011

This Interim Management Statement, for the quarter ended 31 October 2011, 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 2011 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)* of 58.4p at 31 October 2011; compared to 57.6p on 31 July 2011;

·; Total of 320,000 Ordinary Shares bought back for cancellation; and

·; Interim dividend of 1.5p per Ordinary Share paid on 11 November 2011.

\* The NAV is unaudited and reflects the closing bid price of quoted securities at 31 October 2011. Unlisted companies are normally valued on a six-monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 July 2011, adjusted for subsequent events where appropriate.

2. Investments and disposals

One new unlisted investment was completed during the quarter ended 31 October 2011 and, including the provision of support to four existing portfolio companies, a total of £470,000 was invested.

In the same period, aggregate proceeds of £21,000 were received in respect of the disposal of four unlisted investments, against cost of £6,000.

3. Recent developments

Between 31 October 2011 and the date of this statement, £380,000 was invested in 2 unlisted companies and £1,250,000 was invested in UK government securities.

During this same post quarter-end period, deferred consideration of £32,000 was received in respect of the previous disposal of an unlisted investment, and £20,000 of capital was returned from another unlisted company.

4. Offer for subscription

On 7 December 2011 the Company announced the launch of an Offer of New Ordinary Shares. The Offer will close on 5 April 2012 in respect of the 2011/12 tax year and on 27 April 2012 in respect of the 2012/13 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 2011 to 31 October 2011, or in the period from 1 November 2011 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

9 December 2011