Final Results - Replacement

New Cent. Aim Vct 2 The issuer advises that the following replaces the NEW CENTURY AIM VCT PLC 2 Final Results announcement released at 16:52 GMT on 29/4/08. An incorrect document was sent. The full corrected version is shown below. NEW CENTURY AIM VCT2 PLC PRELIMINARY ANNOUNCEMENT AS AT 31 DECEMBER 2007 Financial Summary Period ended 31 Dec 2007 -0- *T Revenue return per share (pence) for the period 0.89 Total return per share (pence) for the period -7.67 Dividends per share (pence) 0.80 Net Asset Value per share (pence) 93 Cumulative Value of Shareholder Investment (net asset value plus cumulative dividends per share) (pence) 93 Shareholders' Funds (£000) 5,332 *T Chairman's Statement The period since flotation on the 4th April, 2007 has been very difficult for AIM shares with the FTSE AIM All Share Index falling by 8.9% up to the 31st December, 2007. Over the same period, the net asset value per share of your fund fell by 6% from its initial 98.9p. The decline has been particularly pronounced in the second half of the year with the FTSE AIM All Share Index declining by 15.3% since its high in mid July to the year end. We are pleased to report that after just nine months, your fund is already 59.34% invested in VCT qualifying investments. Our preliminary expenses amounted to just £70,429 while running expenses for the nine month period totalled only £33,471 for the nine month period. The Directors are pleased to announce that a dividend of 0.8p per share is proposed, which utilises most of the net revenue throughout the period. I would like to thank our investment management team for their hard work and achievements and I think that you will agree that they have done an excellent job during these very trying times. Annual General Meeting The annual general meeting of New Century AIM VCT 2 PLC will be held at 17-21 New Century Road, Laindon, Essex SS15 4AG on Thursday, 29 May 2008 at 11.30 a.m. for the following purposes: John Brice Chairman 29 April 2008 Investment Manager's Review During the nine month period, we have made rapid progress, having purchased 43 investments, of which 59.34% by value are VCT qualifying. 14.3% of the fund is in fixed interest securities. In this respect, we have invested in a low coupon, indexed linked Gilt which provides liquidity for the fund as well as tax free capital appreciation. We have also purchased preference shares, the income from which is not subject to tax in the hands of the VCT. The investments within the fund are very diverse which is something that we are pleased about, but there are three that I would particularly like to comment upon. Kurawood plc Kurawood has developed a process to organically harden softwood to make it appear like hardwood. From an environmental point of view, this has great attractions as there is an abundant supply of quick growing softwood as opposed to hardwood, where there are concerns over their depletion. From a consumer point of view, softwood is much cheaper than hardwood. The wood processed by Kurawood is of high quality and has similar properties to hardwood. The potential to build up this business from a small base is enormous. Already they have interest from 58 potential customers, including B&Q. Expected earnings per share are forecast to grow strongly and should these expectations be met the prospective P/E ratio would be only 2.5 times, the share price growth could be substantial if these targets are met. A similar company quoted on the market has proved a successful investment to date growing to a market capitalisation of Euro 390m, yet this compares to a £14.4m for Kurawood. CKS Group plc CKS Group recycles redundant computers. By law, it is now necessary when disposing of computers to use a licensed computer recycling group, like CKS. The company has large contracts to dispose of computers for the likes of DHL, Nationwide Building Society and BAE Systems. Not only does CKS get paid for carrying out the recycling; it generates substantial revenue from the sale of recycled materials. The Company has built a purpose built unit in the Forest of Dean to handle the potential volume of electrical waste, and to date has had to cope with the cost of this. We now feel that they are reaching an inflexion point with tonnage of waste increasing each month and foresee the Company returning to profit shortly. Given the dynamic pace at which the company is growing, the potential for the shares is vast. Micromissive Displays Of the small, non qualifying investments, Micromissive Displays is very interesting. It has developed an LED low power microdisplay which will allow portable TV and radio to be viewed through video glasses and head sets. They can be used to display DVDs and video clips through MP4 and iPods; playing hand held electronic games, watching TV and surfing the net via mobile phone. The company believes its product will transform the way we view TV and radio on the move. If Micromissive's product was to replicate the success of the iPod, their shares could be a major winner for your fund. Prospects Since the year end, shares of smaller companies have continued to be weak, with the FTSA AIM All Share Index, at the time of writing (31st January 2008) down by a further 7.9%. I regret to say that this has been reflected in the net asset value of your fund, which has fallen to 88.2p at the same date. The shares we have purchased for the fund have been well researched by us. Most of the investments are in growing, profitable businesses that are valued on low prospective multiples. As soon as confidence returns to the Market, I expect the fund to recover in value. Michael Barnard 31 January 2008 Income Statement (incorporating the revenue account) For the period to 31 December 2007 -0- *T Period ended 31 December 2007 Notes Revenue Capital Total £000 £000 £000 Gains on investments Realised 0 8 8 Unrealised 0 -347 -347 Income 96 0 96 Investment management fees -13 -39 -52 Other expenses -37 0 -37 -------------------------------- Return on ordinary activities 46 -378 -332 Tax -charge/credit on ordinary activities -6 -4 -10 Return on ordinary activities -------------------------------- after taxation 40 -382 -342 ================================ Return per ordinary share in pence 0.89 -8.65 -7.67 *T Balance Sheet At 31 December 2007 -0- *T 31 December 2007 £000 Note Fixed Assets Investments 5,323 Current Assets Debtors 24 Current Liabilities Creditors: amounts falling due within one year -15 -------------------- 5,332 ==================== Capital and Reserves Called up share capital 574 Share premium 5,100 Capital reserve-realised 0 Capital reserve-unrealised -382 Revenue reserve 40 -------------------- Total Equity Shareholders' Funds 5,332 ==================== Net Asset Value per ordinary share 93p *T -0- *T Cash Flow Statement Period ended For the period to 31 December 2007 31-Dec-07 £000 Note --------------------------------- Net cash inflow from operating activities -83 Returns on investments Interest received 64 Investment income 29 --------------------------------- 96 UK Corporation Tax paid 0 Capital expenditure & financial investment Sales of investments 1,033 Purchases of investments -6,696 Net cash outflow for capital expenditure and --------------------------------- financial investment -5,663 --------------------------------- Net cash outflow before financing -5,650 Sources of finance Net proceeds of share issue 5,674 --------------------------------- Uninvested funds with Broker 24 ================================= *T NOTES 1 Return per share. The revenue return per ordinary share is based on the net revenue on ordinary activities after taxation of £39,602 and on 4,459,279 ordinary shares, being the weighted average number of ordinary shares in issue during the year. The capital return per ordinary share is based on a net realised and unrealised capital loss of £381,817 and on 4,459,279 ordinary shares, being the weighted average number of ordinary shares in issue during the period. 2 Dividend. The directors are proposing a final dividend of .8 pence per share for the period ended 31 December 2007. 3 Accounts The results set out above are not full accounts within the meaning of s.240 of the Companies Act 1985 and have not been reported on but have been agreed with the company's auditors. The Annual Report and Accounts for the period ended 31 December 2007 will be filed at the Registrar of Companies following the annual general meeting and will be posted to shareholders shortly. 4 Announcement A copy of this announcement will be available at the offices of the Company for 14 days from the date of this announcement. This preliminary announcement is not being posted to shareholders.

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