Final Results

New Cent. Aim Vct 2
                  Contents Page

                                        2

                             NEW CENTURY AIM VCT PLC

                            PRELIMINARY ANNOUNCEMENT

                             AS AT 28 FEBRUARY 2007

Financial Summary

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                                                     Period ended    Period ended
                                                 28 February 2007       31 March
                                                                             2006
Revenue return per share (pence) for the
 period                                                      0.73            1.54
Total return per share (pence) for the
 period                                                     10.49           27.15
Dividends per share (pence)                                  1.00               -
Cumulative dividends per share (pence)
                                                             1.00               -
Net asset value per share (pence)                             135             126
NAV total return (net asset value plus
 cumulative dividends per share) (pence)
                                                              136             126
Shareholders' funds (£'000)                                 11434           10678
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Investment Manager's Review

Chairman's Statement

The eleven month period to 28th February 2007 was not an easy one for the fund,
with the FTSE AIM Index falling by 8%. Against this unfavourable backdrop, I am
pleased to report that the net asset value of your fund rose by 7.1% to 135p

During the period, we realised net profits of £1.176 million. At the financial
year end, qualifying stocks accounted for 68.76% by value of the fund. By the
end of February 2008, we shall require to maintain in excess of 70% of the fund
in VCT qualifying stocks. Going forward, we shall have to ensure that when
selling, we do not let the VCT qualifying stocks fall much below 70% by value of
the fund. Indeed, for prudence sake, we would like our VCT qualifying stocks to
be considerably in excess of 70% as we approach the February deadline.

Our costs of £143,000 of which investment management fees amounted to £117,000,
represented just 1.25% of the funds under management.

Reflecting the reduction of funds on deposit during the year into lower yielding
equities, net revenue declined to £56,000 for the eleven-month period compared
to £131,000 for the previous twelve months. In the light of this, the Directors
have decided to reduce the net dividend for the period to 0.7p compared to 1p
for the previous twelve months. This reduced payment substantially utilises the
total revenue reserves as at 28th February 2007.

The excellent performance of your fund is a reflection of the dedication of our
investment management team who have diligently analysed each proposed new
investment while monitoring the existing investments with a view to part or
total realisation of those investments when it is deemed appropriate.

Annual General Meeting

The annual general meeting will be held at 11.30 a.m. on Thursday, 30 August
2007 at 17-21 New Century Road, Laindon, Essex SS15 6AG. I look forward to
meeting those shareholders that are able to attend.

John Brice

Chairman

28 June 2007

Introduction

During our second year of management of your fund, we have continued in the same
vein as in the previous year. We have maintained a high level of VCT-qualifying
stocks, though to reduce risks, we have realised profits from some of the
largest holdings and looked to expand the Company into more and more smaller
holdings. By the end of the Company's financial year, the number of stocks held
had risen to 48, while cash awaiting investment had risen to £2.528 million,
equal to 22.05% of the value of the Company.

During the year, we became increasingly concerned over the
toughening competitive pressures being faced by IVAs and we took the decision to
substantially reduce our commitment to this sector.

Another concern for us was the reducing price of ethanol during which grain
prices were sharply rising. This was not a good omen for GTL and Renova, which
make ethanol from grain. As a result, we decided to realise a substantial profit
on these investments.

We reduced our holdings in Internet Business Group, Tanfield and Worthington
Nicholls which were becoming disproportionately large holdings, and took massive
gains for your fund in the process.

Talarius was taken over during the period, resulting in additional useful
profits.

Fortunately, we decided to cut a small loss on Torex Retail, since when, this
company has got into financial difficulties.

System C continued to suffer from a lack of orders from the NHS and given its
uncertain future, we decided to cut our losses here. Having suffered from the
shortcomings of the NHS, we have switched our attention to a company that stands
to benefit from these failings and invested in General Medical Clinics, a
company that provides primary medical care in the City, specialising in general
practice, health screening, occupational health, physiotherapy and travel
vaccinations. General Medical operates three private clinics and, under contract
with the Department of Health, an NHS walk-in centre.

As in our previous year, we have invested in companies likely to benefit from
changes in legislation or from those that will benefit from measures being taken
to provide a greener environment.

We have bought into Hightex which is a leading specialist in the polymer
membrane market for the roofing industry using solar power technologies. We have
participated in the secondary placing of CKS, which specialises in the recycling
of redundant computers, and we have invested in Air Touring, a Biggin Hill
company which sells services and repairs private light aircraft. With ever
longer delays at airports leading to a rising demand for more efficient air
travel and more stringent measures when testing for air worthiness, we believe
Air Touring is well placed to benefit.

We continue to see potential in companies providing services to the oil industry
and have taken the opportunity to invest in Lamprell and Velosi which are both
involved in this sector.

Prospects

The current year has started well. Since the year end, we have generated further
net profits of £1.337 million for your Company and VCT-qualifying investments
have risen to 70.2% of the Company. Cash balances represent 19.6% of the fund,
thus providing some protection in the event of a Market fall but also
offering the opportunity to invest in further promising new investments. The
total number of holdings now amounts to 55 and you will be pleased to learn that
as at 19th June 2007, the net asset value of the Company has risen to 154.7p per
share.

Michael BarnardIncome Statement (incorporating the revenue account)

for the period to 28 February 2007

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                                                     Period ended                   Period ended
                                                 28 February 2007                  31 March 2006
                                         Revenue   Capital  Total     Revenue   Capital    Total
                                           £'000     £'000  £'000       £'000     £'000    £'000
Gains on investments
- realised                                     0      1175   1175           0        55       55
- unrealised                                   0      -262   -262           0      2180     2180
Income                                       111         -    111         226         0      226
Investment management fee                    -29       -87   -117         -27       -83     -110
Other expenses                               -25         -    -25         -38         -      -38

                                     ----------- --------- ------ ----------- --------- --------
Return on ordinary activities
 before taxation                              56       825    881         161      2152     2313
Tax (charge)/credit on
 ordinary activities                           0         0      0         -30        15      -15

                                     ----------- --------- ------ ----------- --------- --------
Return on ordinary activities
 after taxation                               56       825    881         131      2167     2298
Dividends                                      -         -      -           -         -        -

                                     ----------- --------- ------ ----------- --------- --------
Transfer to reserves                          56       825    881         131      2167     2298

                                     =========== ========= ====== =========== ========= ========

Return per ordinary share                   0.73      9.76  10.49        1.54     25.61    27.15
*T

All revenue and capital items in the above statement are from continuing
operations in the current year. No operations were acquired or discontinued in
the current period. Other than shown above, the company had no recognised gains
or losses. Accordingly no statement of total recognised gains and losses has
been prepared.

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                                                                            Period ended
                                                       Period ended        31 March 2006
Balance Sheet                                      28 February 2007                 £000
At 28 February 2007                                            £000

Fixed assets
Investments                                                  8,934                 9,088

Current assets
Debtors                                                      2,528                 1,637



Creditors: amounts falling due
within one year                                                -29                   -47


                                               ------------------- ---------------------
                                                            11,433                10,678

                                               =================== =====================
Capital and reserves
Called up share capital                                        846                   846
Share premium                                                7,534                 7,534
Capital reserve - realised                                   1,131                    68
Capital reserve - unrealised                                 1,862                 2,099
Revenue reserve                                                 60                   131



                                               ------------------- ---------------------
Total equity shareholders' funds                            11,434                10,678
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Net asset value per ordinary share                            135p                  126p
                                                     =============
                                                                   =====================
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Cash Flow Statement

for the period to 28 February 2007

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Operating activity                                                           £000       £000
Operating profit                                                            2,313
Profit on sale of investments                                                 -55
Unrealised gains on investments                                            -2,180
Investment income                                                            -226
Increase in creditors                                                          32
Net cash inflow from operating activities                                               -116
Returns on investments
Interest received                                                             213
Investment income                                                              13
Net cash inflow for returns on investments and
 servicing of finance                                                                    226
Taxation
Capital expenditure & financial investment
Sale of investments                                                           864
Purchase of investments                                                    -7,717
Net cash outflow for capital expenditure &
 financial investment                                                                 -6,853
                                                                                      ______
Net cash outflow before financing                                                     -6,743
Share issue                                                                 8,464
Expenses paid in connection with share issue                                  -84
Net cash inflow from financing                                                         8,380
Uninvested funds with Broker                                                           1,637
*T

Notes

1 Return per share

The Revenue return per ordinary share is based on net revenue on ordinary
activities after taxation of £56,174 (2006:£130,399) and on 8,464,500 ordinary
shares (2006:8,464,500), 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 profit of £825,813 (2006:£2,167,892) and on 8,464,500 ordinary shares
(2006:8,464,500), being the weighted average number of ordinary shares in issue
during the period.

2 Dividend

The directors are proposing a final dividend of 0.7p per share for the period
ended 28 February 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 28 February 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.

Directors

John Roger Simpson Brice (Chairman)

Michael David Barnard

Geoffrey Gamble

Robin Kirby

Peter William Riley

All directors are non-executive.

Management and Administration

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Registered Office & Registered Number           Investment Manager and Broker
4th Floor,                                      M D Barnard & Company Limited
150-152 Fenchurch Street                        17-21 New Century Road
London EC3M 6BB                                 Laindon
                                                Essex SS15 6AG
5352611
Company Secretary                               Auditor & VCT Status Adviser

Woodside Secretaries Limited                    UHY Hacker Young
4th Floor,                                      St Alphage House
150-152 Fenchurch Street                        2 Fore Street
London EC3M 6BB                                 London EC2Y 5DH
Registrar                                       Sponsor

Neville Registrars Limited                      Teather & Greenwood Limited
Neville House, 18 Laurel Lane                   Beaufort House
Halesowen, West Midlands B63 3DA                15 St Botolph Street
Glasgow G2 2BR                                  London EC3A 7QR
Solicitors                                      Bankers

Dundas & Wilson                                 Bank of Scotland
5th Floor, Northwest Wing                       New Uberior House
Bush House                                      11 Earl Grey Street
Aldwych                                         Edinburgh EH3 9BN
London WC2B 4EZ
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