Interim Management Statement

Interim Management Statement

Maven Income and Growth VCT 2 PLC (the Company) - quarter ended 31 October 2012

This Interim Management Statement, for the quarter ended 31 October 2012, 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 2012 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 59.4p at 31 October 2012, compared to 59.7p on 31 July 2012;

·; Total of 150,000 Ordinary Shares bought back for cancellation; and

·; Interim dividend of 1.75p per Ordinary Share paid on 9 November 2012 to Shareholders on the register at close of business on 12 October 2012.

\* The NAV at 31 October 2012 is unaudited, includes the value of the interim dividend and reflects the closing bid price of quoted securities as at that date. Unlisted companies are normally valued on a six-monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 July 2012, adjusted for subsequent events where appropriate.

2. Investments and disposals

During the quarter ended 31 October 2012, additional funding of £52,799 was provided to two existing unlisted portfolio companies. In the same period cash of £499,639 was raised from the sale of treasury bills; and the receipt of deferred consideration from, and the partial disposals of, one quoted and six unlisted investments generated aggregate proceeds of £345,803 against a total cost of £311,078.

In addition, two unlisted portfolio companies were struck off the Register during the period but this had no impact on the Company's NAV as a full provision against the cost of each holding had been made in prior years.

3. Recent developments

Between 31 October 2012 and the date of this statement, additional funding of £97,429 was provided to an existing unlisted portfolio company; £503,880 of capital was returned by three unlisted companies and the disposal of the unlisted investment in Oliver Kay Holdings generated proceeds of £750,557 and a realised gain of £311,383 over cost. Following these transactions, £999,326 was invested in UK Treasury Bills.

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 2012 to 31 October 2012, or in the period from 1 November 2012 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

14 December 2012