Issue of Equity

British SmallerTechCompaniesVCT2PLC
23 December 2002


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


23 December 2002


Issue of Shares


The Company announces that at a Board meeting held on 20 December 2002, the
Board issued and allotted 5,000 ordinary shares of 10p each (with warrants
attached on a 1:5 basis), representing approximately 0.06 per cent. of the
enlarged issued ordinary share capital of the Company which now consists of
7,832,693 ordinary shares.  The new shares were issued for cash at a price of
100p per share.


Application will be made for admission of the new ordinary shares and new
warrants to trading on the London Stock Exchange as set out in the prospectus
dated 23 November 2001 and the supplementary listing particulars dated 25 March
2002, with dealings expected to commence on Wednesday 8 January 2003.


ENDS


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