Final Results

Oxford Technology 2 VCT PLC
08 May 2007



 Preliminary Announcement for Oxford Technology 2 Venture Capital Trust plc for
                        the year ended 28 February 2007

                              Chairman's Statement

Investment Portfolio

Despite setbacks, with some investees having been written down in value, the
Directors of Oxford Technology 2 remain pleased with the development of the
portfolio as a whole.  Several companies in the portfolio have the potential to
deliver large returns.

Commerce Decisions, in which OT2 owns 5.9%, continues to grow satisfactorily,
with sales from the US beginning to become significant.  Inaplex, in which OT2
owns 21%, though small, is now profitable, generating cash, and growing.
Inscentinel was rescued from mothballs by an OT3 shareholder who read the
newsletter and came to the rescue with an investment.  It is now receiving
increased interest from a variety of potential customers.  The company uses the
exquisitely sensitive olfactory sense of insects to detect trace vapours.  The
fact that the insects can be trained to a new scent in minutes (it takes three
months to train a sniffer dog) makes Inscentinel's technology potentially
attractive to the security services.  Inscentinel has received a number of
research contracts, but has not yet achieved commercial sales.

Insense has obtained regulatory approval for the first of its family of active
wound-healing dressings, and now has a schedule to introduce these to the
European market.  OC Robotics continues to make excellent progress, and made a
profit for the first time on increased sales in the most recent year to December
06.  Interest has come mainly from the US, where several customers have
indicated that they will probably place much larger orders for snake-arm robots
in the coming months.  Orthogem was on the point of signing a deal, which would
have led to the sale of the company to a US company, when bad data was received
from a particular trial.  On investigation the reasons for this were apparent
(all other trials had produced excellent results),  but this caused the process
to stall.  The hope is that it will revive - the fundamentals remain good - and
if not there are other ways forward, but in the meanwhile the value of the
investment has been written down in the name of prudence.

Plasma Antennas has made a significant technical breakthrough after almost six
years of trying.  Only a three-man company, they have one potential customer
interested in purchasing up to 1m aerials at $150 each. But no order yet.

Oxis Energy continues to obtain good results from its prototype Lithium Sulphide
rechargeable batteries.  Other companies are making reasonable if not
spectacular progress.

                              Results for the year

Realised profit on disposal of investments, interest on bank deposits and
investee loans produced gross income of £19,000 (2006: £473,000) in the year.
Retained losses were £142,000 (2006: profit of £298,000) and earnings per share
for the year were (2.37)p (2006: 4.97p) per share.


                                      AGM

Shareholders should note that the AGM for Oxford Technology 2 VCT will be held
on Monday 25th June 2007, at the Magdalen Centre, Oxford Science Park, starting
at 12.00 noon and will include presentations by some of the companies in which
the Oxford Technology VCTs have invested. A formal Notice of AGM has been
included at the back of these Accounts together with a Form of Proxy for those
not attending.

John Jackson
Chairman
4 May 2007



                            Profit and Loss Account
                      for the year ended 28 February 2007


                                                    Year ended        Year ended
                                                      28/02/07          28/02/06
                                                          £000              £000
Turnover                                                    19               473
Administrative Expenses                                   (161)             (156)
                                                      --------        ----------
Operating Profit                                          (142)              317

Profit/(loss) on revaluation of                              -               (19)
investments
Profit/(loss) on ordinary activities before taxation      (142)              298
Profit/(loss) on ordinary activities after taxation       (142)              298
Retained proft/(loss) for the year                        (142)              298
                                                      ========          ========
Earnings per share                                       (2.37) p           4.97p
                                                      ========          ========



         Statement of total recognised gains and losses for the period ended 
                                    28 February 2007


£'000

Loss for the financial period                             (142)
Profit on investments held at fair value                   275
Total profit recognised since last annual report           133



                       Balance sheet at 28 February 2007

                               28 February 2007 Audited 28 February 2006 Audited
                                       £000        £000         £000        £000
Fixed assets
Investments at fair value                         4,042                    3,666
Current assets
Debtors & prepayments                     3                        3
Cash at bank                            118                      660
                                      _____                    _____
                                        121                      663


Creditors: amounts falling due          (5)                      (4)
within one year
                                      _____                    _____
Net current assets/                                 116                      659
(liabilities)
                                                  _____                    _____
Net assets                                        4,158                    4,325
                                                  =====                    =====
Capital and reserves
Called up share capital                             600                      600
Profit and loss account                           2,437                    2,879

Revaluation reserve                               1,121                      846



Shareholders' funds                               4,158                    4,325
                                                  =====                    =====
Net asset value per share                           69p                      72p
                                                  =====                    =====




            Cash flow statement for the year ended 28 February 2007

                                                     2007    2006
                                                  Audited Audited
                                                     £000    £000
Net cash inflow/(outflow) from                      (141)     381
operating activities
Capital expenditure and financial investment
                Purchase of investments             (101)   (113)
   Disposal / redemption of investments                 -     250
                                                   ______  ______
Net cash inflow from capital                        (101)     137
expenditure and financial investment

Dividends paid                                      (300)       -
                                                   ______  ______
Increase /(Decrease) in cash                        (542)     518
                                                   ======  ======


                                     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' issued in 
     December 2005. The principal accounting policies are set out in the 
     company's financial statements for the year ended 28 February 2007.

2.   Earnings per Ordinary Share

     The calculation of earnings per share is based on the net loss for the 
     financial period of £142,000 (2006: £298,000 profit) divided by the 
     weighted average number of ordinary shares of 6,000,000 (2006: 6,000,000) 
     in issue during the year.

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 2007 and the profit and loss 
     account, cash flow statement and associated notes for the year then ended 
     have been extracted from the company's 2007 statutory financial statements 
     on which the auditors' opinion is unqualified and does not include any 
     statement under section 237 of the Companies Act 1985.


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