C Share Issue

Baronsmead VCT 2 PLC
16 December 2004

TO: LONDON STOCK EXCHANGE, COMPANY ANNOUNCEMENTS

FROM:       Baronsmead VCT 2 plc

AVS NO:

DATE:       16 December 2004

SUBJECT:    Offer for Subscription


C Share Issue


The Board of Baronsmead VCT 2 plc is pleased to announce that applications have
been received in respect of 1,702,510 C shares at 100p per C share which have
been issued on 16 December 2004.  Trading in these C shares is expected to
commence on 17 December 2004 at 8.00am.

This brings the total number of C shares in issue to 15,012,094.

David Thorp, ISIS Equity Partners plc:              0207 506 1100
Robert Coulter, F&C Asset Management plc:           0131 465 1000


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