AGM Statement

British SmallerTechCompaniesVCT2PLC
10 May 2002



FOR IMMEDIATE RELEASE                            10 May 2002





                British Smaller Technology Companies VCT 2 plc


                           Chairman's AGM Statement


British Smaller Technology Companies VCT 2 plc, the successor to British Smaller
Technology Companies VCT plc, the venture capital trust specialising in growing
smaller technology companies, which remains open to investors until the end of
May, held its Annual General Meeting in London today.



Addressing the meeting, Sir Andrew Hugh Smith, Chairman, made the following
comments:



The Fund now stands at just under £8 million, enabling us to ensure a
satisfactory spread of investments and a balanced portfolio. Since the year end
two further investments have been made totalling £317,000. The total invested by
the Fund is now £692,000 and, although at an early stage, these investments are
proceeding satisfactorily and are being continually monitored. I expect the fund
to make more investments in the near future."



"Indeed, opportunities to achieve well above average returns are excellent at
present, with the trust's fund manager evaluating a number of investment
situations in fledgling companies which have very good growth potential at
attractive entry valuations."



"The Fund remains attractive both to current shareholders wishing to top up
their existing investments and new investors looking to take advantage of the
tax incentives offered by the Fund."



"I am very confident of the future for VCTs and expect them to produce strong,
tax-efficient returns to investors."



For further information, please contact:

Phil Cammerman                                 Tel: [phone]
Yorkshire Fund Managers Ltd. 
David Hardy                                    Tel: [phone]
Binns & Co
Simon Mountford                                Tel: [phone]
Simon Mountford Communications







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