Interim Results

Oxford Technology 2 VCT PLC
20 October 2005


                 Oxford Technology 2 Venture Capital Trust plc
                               Interim Statement

                                 For the period

                         1 March 2005 to 31 August 2005

                        Statement on behalf of the Board

Net Assets per share share at 31 August 2005 were £0.79 compared to £0.77 on 28
Feb 2005 and £0.79 on 31 August 2004.

Hardide floated on AIM in April 2005, and OT2 sold its shares at float,
realising just over £700,000.  The shares cost £250,000 in 2000.  OT2 will pay a
dividend of 5p per share.

It is the nature of the business of investing in very early stage very high risk
start-up technology businesses that overall success is likely to come from the
performance of a few stars.  It is good to report that many of the investments
in the OT2 portfolio are developing well and retain the potential to be stars.

On behalf of the Board

John Jackson
Chairman

                        Unaudited financial information

Summarised Statement of Total                                  Six                   Six                 Year
Return for the period                                    months to   months to 31 Aug 04          to 28 Feb 05
                                                         31 Aug 05                                                      
                                                              £000                  £000                  £000

Gain / (loss) on investments                                   184                   105                    72
Income                                                          17                    26                    47
Expenses                                                       (77)                  (83)                 (166)
                                                              _____                 _____                 _____
Net return before taxation                                     124                    48                  (47)
Tax on ordinary activities                                       -                     -                     -
                                                              _____                 _____                 _____
Return attributable to equity shareholders                     124                    48                  (47)
Dividends in respect of equity shares                            -                     -                     -
                                                              _____                 _____                 _____
Transfers to / (from) reserves                                 124                    48                  (47)
                                                              =====                 =====                 =====
Revenue loss per share                                      (1.00)p               (0.95)p               (1.98)p
Capital return / (loss) per share                             3.07p                 1.75p                 1.20p
Total return / (loss) per ordinary share                      2.07p                 0.80p               (0.78)p
                                                              =====                 =====                 =====

Summarised Balance Sheet                                  31 Aug 05             31 Aug 04             28 Feb 05
                                                               £000                  £000                  £000
Unquoted investments                                          3,993                 4,467                 4,434
Other net current assets                                        770                   267                   205
                                                              _____                 _____                 _____
Net assets                                                    4,763                 4,734                 4,639
                                                              =====                 =====                 =====
Capital and Reserves
Called up share capital                                         600                   600                   600
Share premium:
                                Share issues                  5,400                 5,400                 5,400
                    Expenses on share issues                  (179)                 (179)                 (179)
                                                              _____                 _____                 _____
                                                              5,821                 5,821                 5,821
Capital reserve
                                  unrealised                  (403)                 (116)                 (149)
                                    realised                  (155)                 (593)                 (593)
Revenue reserve                                               (500)                 (378)                 (440)
                                                              _____                 _____                 _____
                                                              4,763                 4,734                 4,639
                                                              =====                 =====                 =====
Net asset value per share                                       79p                   79p                   77p
                                                              =====                 =====                 =====



Cash flow statement for the period                              Six                   Six                   Year
                                                             months                months           to 28 Feb 05
                                                       to 31 Aug 05          to 31 Aug 04

                                                               £000                  £000                  £000
Net cash outflow from operating activities                     (69)                  (88)                 (149)
Capital expenditure and financial investment                      -                     -                     -
                     Disposal of investments                    688                    40                    40
                                                              _____                 _____                 _____
Net cash outflow from capital expenditure and                   688                    40                    40
financial investment
                                                              _____                 _____                 _____
Increase/(decrease) in cash                                     619                  (48)                 (109)
                                                              =====                 =====                 =====


                      Notes to the Unaudited Financial Information


1 The financial information for each of the interim periods ended 31 August 2005
and 31 August 2004 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 2005. The financial information for the
year ended 28 February 2005 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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