Director/PDMR Shareholding

Baronsmead VCT 2 PLC

Director/PDMR Shareholding

Annex DTR3

Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons

This form is intended for use by an issuer to make a RIS notification required
by DR3.1.4R(1)

1.   An issuer making a notification in respect of a transaction relating to 
     the shares or debentures of the issuer should complete boxes 1 to 16, 23
     and 24.                                                                 
                                                                             
2.   An issuer making a notification in respect of a derivative relating the 
     shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 
     and 24.                                                                 
                                                                             
3.   An issuer making a notification in respect of options granted to a      
     director/person discharging managerial responsibilities should complete 
     boxes 1 to 3 and 17 to 24.                                              
                                                                             
4.   An issuer making a notification in respect of a financial instrument    
     relating to the shares of the issuer (other than a debenture) should    
     complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.              

Please complete all relevant boxes should be in block capital letters.

1.    Name of Issuer                                                         
                                                                             
      BARONSMEAD VCT 2 PLC                                                   
                                                                             
2.    State whether the notification related to                              
                                                                             
       i. a transaction notified in accordance with DR 3.1.4R(1); or         
                                                                             
      ii. a disclosure made in accordance with LR 9.8.6r; or                 
                                                                             
      iii. a disclosure made in accordance with section 793 of the Companies 
          Act (2006)                                                         
                                                                             
      TRANSACTION RELATES TO (i)                                              
                                                                             
3.    Name of person discharging managerial responsibilities/director        
                                                                             
      GILLIAN NOTT                                                           
                                                                             
4.    State whether notification related to a person connected with a person 
      discharging managerial responsibilities/director name in 3 and identify
      the connected person                                                   
                                                                             
5.    Indicate whether the notification is in respect of a holding of the    
      person referred to in 3 or 4 above or in respect of a non-beneficial   
      interest.                                                              
                                                                             
      NOTIFICATION IN RESPECT OF PERSON REFERRED TO IN 3 ABOVE.                
                                                                             
6.    Description of shares (including class) , debentures or derivatives or 
      financial instruments relating to shares                               
                                                                             
      ORDINARY SHARES 10P                                                    
                                                                             
7.    Name of registered shareholder(s), and if more than one, the number of 
      shares held by each of them                                            
                                                                             
      GILLIAN NOTT                                                           
                                                                             
      TOTAL HOLDING 48,462 ORDINARY SHARES                                   
                                                                             
8.    State the nature of the transaction                                    
                                                                             
      SHARE PURCHASE                                                         
                                                                             
9.    Number of Shares, debentures or financial instruments relating to      
      shares acquired                                                        
                                                                             
10.   Percentage or issued class acquired (treasury shares of that class     
      should not be taken into account when calculating percentage)          
                                                                             
      0.0699%                                                                
                                                                             
11.   Number of shares, debentures or financial instruments relating to      
      shares disposed                                                        
                                                                             
      N/A                                                                    
                                                                             
12.   Percentage of issued class disposed (treasury shares should not be     
      taken into account when calculating percentage)                        
                                                                             
      N/A                                                                    
                                                                             
13.   Price per shares or value of transaction                               
                                                                             
      £25,000                                                                
                                                                             
14.   Date and place of Transaction                                          
                                                                             
      16 DECEMBER 2010                                                        
                                                                             
15.   Total holding following notification and total percentage holding      
      following notification (any treasury shares should not be taken in     
      account when calculating percentage)                                   
                                                                             
      48,462 0.0699%                                                         
                                                                             
16.   Date issuer informed of transmission                                   
                                                                             
      16 DECEMBER 2010                                                        
                                                                             
      If the person discharging managerial responsibility has been granted   
      options by the issuer complete the following boxes                     
                                                                             
17.   Date of Grant                                                          
                                                                             
      N/A                                                                    
                                                                             
18.   Period during which or date on which it can be exercised               
                                                                             
      N/A                                                                    
                                                                             
19.   Total amount paid (if any) for grant of the option                     
                                                                             
      N/A                                                                    
                                                                             
20.   Description of shares or debentures involved (class and number)        
                                                                             
      N/A                                                                    
                                                                             
21.   Exercise price (if fixed at time of grant) or indication that price is 
      to be fixed at time of exercise                                        
                                                                             
      N/A                                                                    
                                                                             
22.   Total number of shares or debentures over which options are held       
      following notification                                                 
                                                                             
      N/A                                                                    
                                                                             
23.   Any additional information                                             
                                                                             
24.   Name of contact and telephone number for queries                       
                                                                             
      MICHAEL PROBIN, VCT INVESTOR RELATIONS,ISIS EP LLPTEL: 02075065796