Transaction in Own Shares

Baronsmead VCT 2 PLC
27 January 2004


To:          RNS

Date:        27 January 2004

From:        Baronsmead VCT 2 plc


TRANSACTION IN OWN SECURITIES

The Board of Baronsmead VCT 2 plc announces that on 27 January 2004 the Company
purchased for cancellation 40,000 ordinary shares of 10p at a price of 88.5p per
share.

Following this purchase there are now 40,888,018 ordinary shares of 10p in
issue.

For further information please contact:

Gary Fraser, ISIS Asset Management plc : 0131 465 1000




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