Mobeus I&g 2 Regulatory News (MIG)

Joint Announcement

Offer for Subscription and Issue of Prospectus

This announcement is made jointly by Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc, Mobeus Income & Growth 4 VCT plc and The Income & Growth VCT plc (together "the Companies" and each a "Company"), which are advised by Mobeus Equity Partners LLP ("Mobeus").

The Boards of the Companies are pleased to announce the launch of offers for subscription to raise, in aggregate, up to £50 million, with over-allotment facilities to raise, in aggregate, up to a further £30 million ("the Offers" and each an "Offer"). The amount each company is seeking to raise is set out below:

If a Board decides (in consultation with Mobeus) to increase its Company's Offer this will be advised through a RIS announcement. Investors can select which of the Companies they wish to invest in. Investors can apply to invest equally in all of the Companies or different amounts in one or more of the Companies (subject to an Offer not having closed prior to the Application Form being processed). The amount subscribed under each Offer will be invested into new ordinary shares of 1p each in the relevant Company.

The Offers open today and will close at 12.00 noon on 4 April 2018 (unless fully subscribed by an earlier date or otherwise closed at the Directors' discretion).

Investors who successfully apply for shares pursuant to the Offers up to the earlier of the first £50 million, in aggregate, being raised across the Offers or 3 November 2017, will be eligible to receive an early investment incentive discount of 1% of the amount they subscribe for under the Offers.

Pursuant to an offers' agreement dated 6 September 2017 relating to the Offers between, among others, each Company and Mobeus, Mobeus will receive a fee of an amount representing 3.25% of the investment amounts in respect of applications accepted under the relevant Offer, less (i) an amount equal to the early investment incentive discount in respect of such applications and less (ii) any 'execution only' initial commission offered by Mobeus in respect of such applications, but waived by the 'execution only' intermediary concerned, and less (iii) any additional amounts by which Mobeus has agreed to reduce its fees further (in whole or part) in respect of such applications (such amount being inclusive of VAT). As Mobeus is a related party of each Company under the Listing Rules, the payment of such fee by each Company to Mobeus is a transaction to which Listing Rule 11.1.10 applies.

In the event that a Company utilises its over-allotment facility, Mobeus has agreed to reduce its management fees for the relevant Company by an amount equal to 1% of any gross funds raised by that Company under its over-allotment facility, for the 12 month period following close of that Company's Offer.

Full details of the Offers are contained in the summary, securities note and registration document, which together constitute a prospectus ("the Prospectus"), which was published by the Companies today. The Prospectus will shortly be available for download from Mobeus' website: www.mobeusequity.co.uk/vct-investors/fundraising.

The Prospectus has also been submitted to the Financial Conduct Authority and will shortly be available for inspection at the National Storage Mechanism, which is located at http://www.hemscott.com/nsm.do.

For further information, please contact:

Mobeus Equity Partners LLP

Rob Brittain

Telephone: 020 7024 7600