Interim Management Statement

The Income & Growth VCT plc ("the Company") INTERIM MANAGEMENT STATEMENT For the quarter ended 31 December 2013 In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UKListing Authority, The Income & Growth VCT plc presents an Interim ManagementStatement for the quarter ended 31 December 2013. The statement also includesrelevant financial information between the end of the period and the date ofthis statement. NET ASSET VALUE AND TOTAL RETURN PER SHARE At 31 December 2013 At 30 September 2013 Net assets attributable to £60,778,363 £60,468,872shareholders Shares in issue 52,964,001 53,088,219 Net asset value (NAV) per share 114.75p 113.90p Net cumulative dividends paid per 40.50p 40.50pshare Cumulative total return per share 155.25p 154.40p (NAV basis) since launch INVESTMENTS In November 2013, the Company completed a new investment of £2,844,000(including £1 million from the acquisition vehicle Culbone Trading Limited) tosupport the MBO of Virgin Wines Online Limited one of the UK's leading onlineretailers of wine. Following the period-end in January 2014, the Company completed a further newinvestment of £1,610,000 to provide development capital to Bourn BioscienceLimited, one of the UK's leading IVF/assisted fertility businesses with adominant presence in East Anglia. DIVESTMENTS The Company realised its investment in Alaric Systems Limited ("Alaric") aprovider of payment processing and fraud prevention software, in December 2013through a sale to a subsidiary of NCR Corporation for cash proceeds of £2.55million. This realisation has contributed to total receipts of £2.65 million bythe Company over the life of the investment, representing a return of over 4.4times original cost of £0.60 million. In November and December 2013, the VCT received final repayments of loan stockfrom Faversham House Holdings Limited which generated net proceeds of £165,000(including a premium of £21,000). The Company has now fully realised thisinvestment, from which it has received 93% of original cost of £488,000 on atotal return basis. During the quarter, the Company received loan stock repayments totalling £479,000 (including premia) from Tessella Holdings Limited, DiGiCo GlobalLimited, Focus Pharma Holdings Limited and Blaze Signs Holdings Limited. Afurther £493,000 in deferred consideration was also received, relating to thesale of App-DNA in November 2012. Following the period-end, a further payment of £100,000 has been received fromWestway Services Holdings Limited (including a premium of £31,000). DIVIDENDS A final dividend of 4 pence per share has been proposed for consideration byshareholders at the Annual General Meeting of the Company to be held on, 12February 2014. The dividend comprises 1.25 pence from income and 2.75 pencefrom capital and will, if approved, be paid to shareholders on the register on21 February 2014, on 12 March 2014. This would bring dividends paid in respectof the year ended 30th September 2013 to 10 pence per share. SHARE BUY-BACKS The Company bought back 124,218 of its own shares on 18 December 2013 at 99.00pence per share. MOBEUS VCTs' JOINT OFFER FOR SUBSCRIPTION Together with Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plcand Mobeus Income & Growth 4 VCT plc, the Company is participating in theMobeus VCTs' Linked Offer. This was launched on 28 November 2013 to raise up to£24 million across the four VCTs of which up to £6 million will be allocated tothe VCT ("the Offer"). The Offer will remain open until 12.00 noon on 30 April 2014 (4 April 2014 inrespect of the current tax year) although the Directors of the four VCTsreserve the right to extend the closing date at their discretion. Applications totalling £12 million have been received under the Offer to date,£3 million of which are in respect of this Company. ISSUE OF EQUITY In respect of the applications above received up to 3rd February 2014, theCompany has to date allotted 851,426 shares under the Offer at prices between117.71621 and 120.21543 pence per share on 9 January 2014, raising net funds of£971,000. For further information, please contact: Robert Brittain, for Mobeus Equity Partners LLP, Company Secretary: 020 70247600.