Final Results

Oxford Technology 2 VCT PLC
17 May 2001



Preliminary Announcement for Oxford Technology 2 Venture Capital Trust plc for
the period ended 28 February 2001

Chairman's Statement

I am pleased to present the first preliminary announcement of Oxford
Technology 2 Venture Capital Trust plc. The company was incorporated on 18
February 2000 and raised funds of £6,000,000 (before expenses) under an offer
for subscription which opened on 6 March 2000. As at 28 February 2001, 12
investments had been completed. These investments are described in the
periodic newsletters.

Interest on government stocks and bank deposits produced gross revenue of £
260,000 in the period. Net revenue after taxation and management expenses was
£70,000 and revenue return per share for the period was 1.17p. Capital return
was 1.97p per share. A dividend of £60,000 (1.0p per share) has been declared
to be paid on 22 June 2001. The ex dividend date is 23 May 2001 and the record
date is 25 May 2001.

John Jackson

Chairman

17 May 2001



Statement Of Total Return (Incorporating the Revenue Account)*

For The Period Ended 28 February 2001
                                                                         2001
                                                                      Audited
                                                Revenue    Capital      Total
                                                   £000       £000       £000
Gains on investments                                  -        117        117
Income                                              260          -        260
Investment management fee                         (110)          -      (110)
Other expenses                                     (58)          -       (58)
                                                  _____      _____      _____
Net return on ordinary activities before             92        117        209
taxation
Tax on ordinary activities                         (22)          -       (22)
                                                  _____      _____      _____
Return attributable to equity shareholders           70        117        187
Dividends in respect of equity shares              (60)          -       (60)
                                                  _____      _____      _____
Transfers to reserves                                10        117        127
                                                   ====       ====       ====
Return per ordinary share                         1.17p      1.97p      3.14p
                                                   ====       ====       ====

* The revenue column of this statement is the profit and loss account of the
company.

All revenue and capital items in the above statement derive from continuing
operations. There were no recognised gains or losses for the period other than
those shown above.



Balance Sheet At 28 February 2001
                                                                28 February 
                                                               2001 Audited
                                                            £000           £000
Fixed assets
Investments                                                               4,329
Current assets
Debtors                                                       95
Cash at bank                                               1,616
                                                           _____
                                                           1,711
Creditors: amounts falling due within one year              (92)
                                                           _____
Net current assets                                                        1,619
                                                                          _____
Net assets                                                                5,948
                                                                          =====
Capital and reserves
Called up share capital                                                     600
Share premium account                                                     5,221
Capital reserve - unrealised                                                117
Revenue reserve                                                              10
                                                                          _____
Shareholders' funds                                                       5,948
                                                                          =====
Net asset value per share                                                   99p
                                                                          =====





Cash Flow Statement For The Period Ended 28 February 2001
                                                                           2001
                                                                        Audited
                                                                           £000
Net cash inflow from operating activities                                   234
Capital expenditure and financial investment
Purchase of investments                                                 (6,918)
Redemption on maturity of government stocks                               2,479
                                                                          _____
Net cash outflow for capital expenditure and financial                  (4,439)
investment
                                                                          _____
Net cash outflow before financing                                       (4,205)
Financing
Issue of shares                                                           6,000
Expenses paid in connection with share issue                              (179)
                                                                          _____
Net cash inflow from financing                                            5,821
                                                                          _____
Increase in cash                                                          1,616
                                                                          =====



Notes:

1. Basis of preparation.

The preliminary announcement has been prepared in accordance with applicable
accounting standards and with the Statement of Recommended Practice 'Financial
statements of investment trust companies' and under the historical cost
convention, modified to include the revaluation of investments.

2. Return per Ordinary Share

The calculation of revenue return per share is based on the net return for the
financial period of £70,000 divided by the weighted average number of ordinary
shares of 5,954,117 in issue during the period.

The calculation of capital return per share is based on the net capital return
for the financial period of £117,000 divided by the weighted average number of
ordinary shares of 5,954,117 in issue during the period.

3. General

The financial information set out in this preliminary announcement does not
constitute statutory accounts as defined in section 240 of the Companies Act
1985. The balance sheet at 28 February 2001 and the statement of total return,
cash flow statement and associated notes for the period then ended have been
extracted from the company's 2001 statutory financial statements on which the
auditors' opinion is unqualified and does not include any statement under
section 237 of the Companies Act 1985.