Conversion of Warrants

British SmallerTechCompaniesVCT2PLC
24 May 2005


         British Smaller Technology Companies VCT 2 plc ("the Company")

                             Conversion of Warrants

The Company announces that 8,000 Ordinary shares of 10p each were allotted on 23
May 2005 at the price of £1 per Ordinary share following the conversion of
Warrants held under the subscription rights attached to those Warrants.

24 May 2005





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