Interim Management Statement

Hazel Renewable Energy VCT2 plc
Interim Management Statement

19 August 2011

In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK
Listing   Authority,  Hazel  Renewable  Energy  VCT2  plc  presents  an  Interim
Management  Statement covering the period from  1 April 2011 to the date of this
statement.

Offer for subscription
The Company's joint offer for subscription with Hazel Renewable Energy VCT1 plc
("the Offer") has now closed with the final allotments of shares under the Offer
taking place on 12 August 2011.  Total gross proceeds of the Offer were £41.6
million, of which £20.8 million relates to Hazel Renewable Energy VCT2 plc.

Share capital
During the period from 1 April 2011 to 12 August 2011, the Company issued
11,419,185 ordinary shares of 0.1p each ("Ordinary Shares") at an issue price of
99.9p each and 19,304,770 A shares of 0.1p peach ("A Shares").

Share capital and movements in the period are summarised as follows:
                                     Ordinary Shares           'A' Shares

                                                Nominal                Nominal
                                       No. of     value       No. of     value
                                       Shares     £'000       Shares     £'000

 At 1 April 2011                    9,351,987     9,352   11,851,985    11,852

 Shares issued during the period   11,410,185    11,420   19,304,770    19,305
                                 ----------------------------------------------
 At 12 August 2011                 20,771,172    20,772   31,156,755    31,157
                                 ----------------------------------------------

Performance
                                                        As at           As at
                                                 30 June 2011   31 March 2011

                                                    Unaudited       Unaudited

                                                        Pence           Pence

 Net Asset Value per Ordinary Share                      93.8            94.0

 Net Asset Value per 'A' Share                            0.1             0.1

 Cumulative distributions per Ordinary Share                -               -

 Total return per Ordinary Share and 'A' Share           93.9            94.1



Investment activity
During the period from 1 April to 18 August 2011, the company made net new
investments totalling of £4.26 million.  At 18 August 2011, the investment
portfolio had a total cost of £5.01 million and all investments are valued at
amounts equal to original cost.

Dividends paid or declared in the period
There were no dividends paid or declared in the period from 1 April 2011 to the
date of this announcement.

Material events
Other than described above, there were no material events during the period from
1 April 2011 to the date of this announcement.







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Source: Hazel Renewable Energy VCT 2 plc via Thomson Reuters ONE

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