Holding in Another Company

Oxford Technology 2 VCT PLC
24 January 2001



                               Orthogem Ltd
                                 £40,000

Oxford Technology 2 VCT has invested £40,000 for ordinary shares in Orthogem
Ltd, initially representing about 28.0% of the equity and has committed to
investing a further £60,000 as milestones are reached.
  
Orthogem Ltd was established by Dr Wei Jen Lo to develop a series of artificial
bone materials to exploit the bone graft market.  The technology developed by
Orthogem enables the production of a material that closely mimics the structure
of either load bearing or non-load bearing bone, and which it is believed will
be rapidly assimilated by the host bone cells.  The significant advantage of
this technology is in the level of control that is held over the internal porous
structure of the material.
  
The purpose of the investment is to further develop the technology and expand
the patent portfolio and to strengthen relationships with potential
collaborators.

For further information, please contact Oxford Technology 2 VCT on 01865 784466.