Holding in Company

Oxford Technology 2 VCT PLC
1 November 2000


Hardide Ltd
£250,000


Oxford Technology 2 VCT has invested £250,000 in Hardide Ltd for 125,000
ordinary shares, representing about 12.5% of the equity.

Hardide Ltd has been formed to develop and exploit advances in tungsten carbide
coating technology, developed by a team of materials scientists from Moscow. The
technology was originally introduced by CFB, an Isle of Man based technology
management and licensing company. Hardide is a family of tungsten carbide (TC)
coatings that are harder and tougher than anything else currently available.
Specifically, the Hardide coating has a hardness of up to 3,500Hv which compares
to 1,400Hv for conventional plasma sprayed TC coatings, 2,500Hv for titanium
nitride coatings or 1,100Hv for cementation nitriding.

The purpose of this investment is to continue development of the technology and
to investigate new markets.

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