Net Asset Value(s)

Baronsmead VCT 2 PLC
11 August 2006



To:       RNS

Date:     11 August 2006

Company:  Baronsmead VCT 2 plc

Subject:  Net Asset Value of Ordinary Shares and C Shares at 30 June 2006


The Board of Baronsmead VCT 2 plc announces that the net asset value of the
Ordinary Shares at 30 June 2006 was 113.59p per share, based on the quoted
investments being valued at bid.

The Board of Baronsmead VCT 2 plc announces that the net asset value of the C
Shares at 30 June 2006 was 104.53p per share, based on the quoted investments
being valued at bid.

The total return of Ordinary Shares (based on quoted investments being valued at
middle market price) of Baronsmead VCT 2 plc (net of all costs) over one year,
three years, five years and since launch are set out below:


                                   1 Year to         3 Years to       5 Years to         Since Launch 
                                    30/06/06           30/06/06         30/06/06            2/4/98 to 
                                                                                             30/06/06

Baronsmead VCT 2 plc                   +8.8%             +53.6%           +48.4%               +88.8%
FTSE All-Share                        +19.7%             +66.1%           +27.8%               +32.2%


These differentials do not include the benefit of the VCT tax reliefs that apply
to qualifying shareholders.


For further information contact:

David Thorp, ISIS EP LLP:                     0207 506 1609
Rhonda Nicoll, F&C Asset Management plc:      0131 465 1074



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