Interim Results

Oxford Technology 2 VCT PLC
17 October 2006

                 Oxford Technology 2 Venture Capital Trust plc

                               Interim Statement

                                 For the period

                         1 March 2006 to 31 August 2006

                        Statement on behalf of the Board

A dividend of 5p per share was paid in March, bringing the total dividends paid
to date to 6p.  Including these dividends, net assets per share on 31 August
2006 were 87p, compared to 73p on 28 February 2006 and 80p on 31 August 2005.

Several companies in the OT2 portfolio are making good or excellent progress and
have the potential to deliver exceptional returns.

Full details of all the investments is given in the accompanying newsletter.


On behalf of the Board

John Jackson

Chairman



                        Unaudited financial information

Profit and Loss Account for the                Six months          Six months         Year to
Period                                          to 31 Aug           to 31 Aug          28 Feb
                                                 06  £000            05  £000         06 £000

Turnover                                               10                  17             473
Expenses                                             (85)                (77)           (156)
                                                    _____               _____           _____
Operating Profit                                     (75)                (60)             317
Profit/(loss) on revaluation of
investments                                           912                 184            (19)

Profit/(loss) on ordinary
activities before tax                                 837                 124             298
                                                      
Tax on profit/(loss) on ordinary                        -                   -               -
activities
                                                    _____               _____           _____

Profit/(loss) for financial period
after tax                                             837                 124             298
                                                    _____               _____           _____


Dividends                                           (300)                   -               -
Retained profit/(loss)                                537                 124             298
                                                    _____               _____           _____

Earnings Per Share                                 13.95p               2.07p           4.97p
                                                    =====               =====           =====





Summarised Balance Sheet                        31 Aug 06           31 Aug 05       28 Feb 06
                                                     £000                £000            £000
Investments at fair value through
profit or loss                                      4,679               3,993           3,666
                                                    
Other net current assets                              183                 770             659
                                                    _____               _____           _____
Net assets                                          4,862               4,763           4,325
                                                    =====               =====           =====


Capital and Reserves
Called up share capital                               600                 600             600
Share premium:
                       Share issues                     -               5,400               -
           Expenses on share issues                     -               (179)               -
                                                    _____               _____           _____
                                                      600               5,821             600
Capital reserve
                         unrealised                     -               (403)               -
                           realised                     -               (155)               -
Profit and loss account                             2,504               (500)           2,879
Revaluation Reserve                                 1,758                   -             846

                                                    _____               _____           _____


 ShareholdersO funds                                4,862               4,763           4,325
                                                    =====               =====           =====
Net asset value per share                             81p                 79p             72p
                                                    =====               =====           =====





Cash flow Statement for the period   Six months to 31 Aug    Six months to 31  Year to 28 Feb
                                                       06              Aug 05              06

                                                     £000                £000            £000
Net cash(outflow)/inflow from                        (89)                (69)             381
operating activities
Dividends paid                                      (300)                   -               -
Capital expenditure and financial
investment
Purchase of investments                             (101)                   -           (113)

Disposal of investments                                 -                 688             250

                                                     ____               _____           _____
Net cash inflow from capital
expenditure and financial
investment                                          (490)                 688             137
                                                  
                                                    _____               _____           _____
(Decrease)/Increase in cash                         (490)                 619             518
                                                    =====               =====           =====




                                     Notes to the Unaudited Financial Information




1 The financial information for each of the interim periods ended 31 August 2006 and 31 August 2005 is unaudited and
does not constitute statutory accounts within the meaning of the Companies Act 1985. It has been prepared using
accounting policies consistent with those set out in the companys statutory accounts for the year ended 28 February
2006. The financial information for the year ended 28 February 2006 has been extracted from the companys statutory
accounts for that period which contained an unqualified audit report and which have been filed with the Registrar of
Companies.
2 The 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.
3 Listed 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 and the gains and losses arising on the
disposal of investments are dealt with in the capital reserve.
4 Copies of the Interim Statement are being sent to shareholders and further copies can be obtained from the Companys
Registered Office.





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