Maven Income 1 Regulatory News (MIG1)

Interim Management Statement

Maven Income and Growth VCT PLC (the Company) - quarter ended 30 November 2010

This Interim Management Statement, for the quarter ended 30 November 2010, 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 December 2010 to the date of issue. This Statement has been prepared solely to provide additional 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.

·; Net Asset Value (NAV)1 of 62.6p per share at 30 November 2010, compared to 61.2p per share at 31 August 2010;

·; NAV total return2 of 100.7p at 30 November 2010, compared to 99.3p at 31 August 2010;

·; 191,467 Ordinary Shares bought back for cancellation during the quarter; and

·; Interim dividend of 1.0p per share in respect of the year ending 28 February 2011, paid on 10 December 2010.

1The NAV is unaudited and reflects the closing bid price of quoted securities at 30 November 2010. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 31 August 2010, adjusted for subsequent events where appropriate.

2NAV total return is the sum of NAV per share and dividends paid per share since launch.

During the quarter ended 30 November 2010, four unlisted investments were completed, including the provision of support to two existing portfolio companies, and a total of £1,006,000 was invested. In the same period: the full or partial disposal of five AIM quoted investments generated proceeds of £325,000 against a cost of £322,000; the redemption of loan stock and preference shares at par by four unlisted companies generated proceeds of £587,000; and the striking off of Elevation Events and Sanastro, companies previously quoted on AIM, resulted in the realisation of losses of £950,000 that had already been recognised.

Between 1 December 2010 and the date of this Statement, investments totalling £921,000 were made in three unlisted companies and additional finance totalling £134,000 was provided to two existing unlisted portfolio companies. During the same period, sales of shares in two AIM quoted companies realised proceeds of £46,000 against cost of £48,000.

On 18 November 2010, in a joint statement issued with Maven Income and Growth VCT 2 PLC, Maven Income and Growth VCT 3 PLC and Maven Income and Growth VCT 4 PLC, the Company announced the launch of a second Linked Offer of New Ordinary Shares. The New Ordinary Shares will be issued at prices reflecting the most recently published NAVs of the existing Ordinary Shares at the date of the launch of the Offer, which will close on 5 April 2011 in respect of the 2010/11 tax year and on 29 April 2011 in respect of the 2011/12 tax year.

Other than described above and changes in the value of investments quoted on regulated markets, the Board is not aware of any material events during the period from 1 September 2010 to 30 November 2010, or in the period from 1 December 2010 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

17 January 2011