Interim Management Statement

Oxford Technology 2 Venture Capital Trust PLC
                               Interim Statement
                 For the period 1 March 2010 to 31 August 2010


                        Statement on behalf of the Board

Net  Assets per share  on 31 August 2010 were  41p per share compared to 41p per
share on 28 February 2010.

Several  companies in the portfolio are  making satisfactory progress and, while
still  not  without  risk,  have  the  potential to deliver good returns.  Other
companies  have experienced  problems and  some have  needed to raise additional
capital, sometimes at a lower valuation.

On behalf of the Board
Michael O'Regan - Chairman


                        Unaudited Financial Information

+------------------------+-----------------+-----------------+-----------------+
|                        |                 |                 |                 |
|Profit and Loss Account |Six months to 31 |Six months to 31 |Year to 28 Feb 10|
|for the Period          |           Aug 10|           Aug 09|            £'000|
|                        |            £'000|            £'000|                 |
+------------------------+-----------------+-----------------+-----------------+
|Profit/(loss) on        |                 |                 |                 |
|disposal of assets held |                 |                 |                 |
|at fair value           |                4|                -|               68|
+------------------------+-----------------+-----------------+-----------------+
|Unrealised profit/(loss)|                 |                 |                 |
|on fair value of        |                 |                 |                 |
|investments             |               23|            (553)|            (852)|
+------------------------+-----------------+-----------------+-----------------+
|Other income            |                5|               95|               18|
+------------------------+-----------------+-----------------+-----------------+
|Other expenses          |             (43)|             (54)|            (105)|
+------------------------+-----------------+-----------------+-----------------+
|Profit/(loss) on        |                 |                 |                 |
|ordinary activities     |                 |                 |                 |
|before tax              |             (11)|            (512)|            (871)|
+------------------------+-----------------+-----------------+-----------------+
|Tax on profit/(loss) on |                 |                 |                 |
|ordinary activities     |                -|                -|                -|
+------------------------+-----------------+-----------------+-----------------+
|Profit/(loss) on        |                 |                 |                 |
|ordinary activities     |                 |                 |                 |
|after tax               |             (11)|            (512)|            (871)|
+------------------------+-----------------+-----------------+-----------------+
|Earnings per Share      |           (0.2)p|           (8.0)p|          (13.2)p|
+------------------------+-----------------+-----------------+-----------------+


+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Historic Cost Profits and|Six months to 31 |Six months to 31 |  Year to 28 Feb|
|Losses Note              |           Aug 10|           Aug 09|              10|
|                         |            £'000|            £'000|           £'000|
+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Profit/(loss) for the    |                 |                 |                |
|financial period         |             (11)|            (512)|           (871)|
+-------------------------+-----------------+-----------------+----------------+
|Unrealised profit/(loss) |                 |                 |                |
|on investments held at   |                 |                 |                |
|fair value               |             (23)|              553|             852|
+-------------------------+-----------------+-----------------+----------------+
|Realisation of prior     |                 |                 |                |
|year's net loss          |              (4)|                -|            (68)|
+-------------------------+-----------------+-----------------+----------------+
|Historical cost          |                 |                 |                |
|profit/(loss) before tax |             (38)|               41|            (87)|
+-------------------------+-----------------+-----------------+----------------+
|Historical cost          |                 |                 |                |
|profit/(loss) after tax  |             (38)|               41|            (87)|
+-------------------------+-----------------+-----------------+----------------+



+-----------------------+------------------+------------------+----------------+
|                       |                  |                  |                |
|Summarised Balance     | Six months to 31 | Six months to 31 |  Year to 28 Feb|
|Sheet                  |            Aug 10|            Aug 09|              10|
|                       |             £'000|             £'000|           £'000|
+-----------------------+------------------+------------------+----------------+
|Investments held at    |                  |                  |                |
|fair value             |             2,333|             2,715|           2,478|
|                       |                  |                  |                |
+-----------------------+------------------+------------------+----------------+
|Other net current      |               440|               367|             245|
|assets                 |                  |                  |                |
+-----------------------+------------------+------------------+----------------+
|Net assets             |             2,773|             3,082|           2,723|
+-----------------------+------------------+------------------+----------------+


+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Capital and Reserves     |Six months to 31 |Six months to 31 |  Year to 28 Feb|
|                         |           Aug 10|           Aug 09|              10|
|                         |            £'000|            £'000|           £'000|
+-------------------------+-----------------+-----------------+----------------+
|Called up share capital  |              680|              663|             663|
|                         |                 |                 |                |
+-------------------------+-----------------+-----------------+----------------+
|Share premium            |              374|              330|             330|
+-------------------------+-----------------+-----------------+----------------+
|Profit and loss account  |            2,214|            2,276|           2,131|
+-------------------------+-----------------+-----------------+----------------+
|Revaluation reserve      |            (495)|            (187)|           (401)|
+-------------------------+-----------------+-----------------+----------------+
|Shareholders'funds       |            2,773|            3,082|           2,723|
+-------------------------+-----------------+-----------------+----------------+
|Net asset value per share|              41p|              48p|             41p|
+-------------------------+-----------------+-----------------+----------------+


+-----------------------------+----------------+----------------+--------------+
|                             |                |                |              |
|Cash Flow Statement for the  |   Six months to|   Six months to|Year to 28 Feb|
|Period                       |       31 Aug 10|       31 Aug 09|            10|
|                             |           £'000|           £'000|         £'000|
+-----------------------------+----------------+----------------+--------------+
|Net cash outflow from        |                |                |              |
|operating activities         |            (50)|             (8)|         (133)|
+-----------------------------+----------------+----------------+--------------+
|Capital expenditure and      |                |                |              |
|financial investment         |                |                |              |
|Purchase of investments      |                |                |              |
|                             |            (24)|            (89)|         (166)|
+-----------------------------+----------------+----------------+--------------+
|Disposal of investments      |                |                |              |
|                             |             197|               -|            83|
+-----------------------------+----------------+----------------+--------------+
|Net cash outflow from capital|                |                |              |
|expenditure and financial    |                |                |              |
|investment                   |             173|            (89)|          (83)|
+-----------------------------+----------------+----------------+--------------+
|Financing                    |                |                |              |
|Issue of Shares              |              65|             146|           148|
+-----------------------------+----------------+----------------+--------------+
|Expenses paid in connection  |                |                |              |
|with shares issued           |                |                |              |
|                             |             (3)|             (7)|           (9)|
+-----------------------------+----------------+----------------+--------------+
|Net cash flow from financing |                |                |              |
|                             |              62|             139|           139|
+-----------------------------+----------------+----------------+--------------+
|Dividends paid               |               -|               -|             -|
+-----------------------------+----------------+----------------+--------------+
|Increase/(decrease) in cash  |                |                |              |
|                             |             185|              42|          (77)|
+-----------------------------+----------------+----------------+--------------+




         Notes to the Unaudited Financial Information on pages 2 and 3

 1         The  financial information for each  of the interim periods ended 31
August  2010 and 31 August 2009 is  unaudited and does  not constitute statutory
accounts  within the  meaning of  the Companies  Act 2006. It  has been prepared
using  accounting  policies  consistent  with  those  set  out  in the company's
statutory   accounts   for   the  year  ended  28 February  2010. The  financial
information  for the  year ended  28 February 2010 has  been extracted  from the
company's  statutory  accounts  for  that  period which contained an unqualified
audit report and which have been filed with the Registrar of Companies.

 2The  calculation of earnings per  share for the period  is based on the return
attributable to shareholders divided by the weighted average number of shares in
issue during the period.

 3Listed  investments are stated at market value based upon middle market prices
at  the accounting period  end.  The unrealised  depreciation or appreciation on
the valuation of investments are dealt with in the revaluation reserve.

 4Copies  of the  Interim Statement  are being  sent to shareholders and further
copies can be obtained from the Company's Registered Office.




[HUG#1452258]








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