Issue of Equity

British SmallerTechCompaniesVCT2PLC
4 April 2002

British Smaller Technology Companies VCT 2 PLC (the "Company")



4 April 2002



Issue of Shares



The Company announced that at a Board meeting held on 28 March 2002, the Board
issued and allotted 336,860 ordinary shares of 10p each (with warrants attached
on a 1:5 basis), representing approximately 4.54 per cent. of the enlarged
issued ordinary share capital of the Company which now consists of 7,406,153
ordinary shares.  The new shares were issued for cash at a price of 100p per
share.



Application will be made for admission of the new ordinary shares and new
warrants to trading on the London Stock Exchange as set out in the supplementary
listing particulars dated 25 March 2002, with dealings expected to commence on
or around 12 April 2002.



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