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Octopus Apollo VCT2 plc (OAP2)

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Wednesday 26 May, 2010

Octopus Apollo VCT2 plc

Interim Management Statement






Octopus Apollo VCT 2 PLC
Interim Management Statement

26 May 2010

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Apollo VCT 2 plc ("Apollo 2" or "Fund") presents an
Interim Management Statement for the period 1 February 2010 to 30 April 2010.
The statement also includes relevant financial information between the end of
the period and the date of this statement.

Financial Summary


+------------------------------+-----------------------+-----------------------+
|                              |    Three Months to 30 |                       |
|                              |             April 2010|Year to 31 January 2010|
+------------------------------+-----------------------+-----------------------+
|                              |                       |                       |
+------------------------------+-----------------------+-----------------------+
|Net assets (£'000s)           |                  8,169|                  8,167|
+------------------------------+-----------------------+-----------------------+
|Net profit/(loss) after tax   |                       |                       |
|(£'000s)                      |                      2|                  (106)|
+------------------------------+-----------------------+-----------------------+
|Net asset value per share     |                       |                       |
|("NAV")                       |                  94.0p|                  94.0p|
+------------------------------+-----------------------+-----------------------+
|Cumulative dividends paid     |                       |                       |
|since launch                  |                  3.25p|                  3.25p|
+------------------------------+-----------------------+-----------------------+
|NAV plus cumulative dividends |                       |                       |
|paid                          |                 97.25p|                 97.25p|
+------------------------------+-----------------------+-----------------------+

Investment performance
At 30 April 2010 the NAV of the Fund was 94.0p, which remains unchanged from the
NAV at 31 January 2010.  The performance of the Fund has been stable in the
period under review due to a proportion of its assets being held in cash and
cash equivalent securities, and because there have been no changes in the
valuations of the companies in its portfolio.

During the period under review the Fund made 1 qualifying investment into
Carebase (Col) limited of £110,000, a company involved in the purchasing of land
in order to construct a care home

Top Ten Unquoted Qualifying Investment Portfolio by Value as at 30 April 2010
+------------------------+------------------+------------------+---------------+
|                        |                  |    Carrying value|               |
|Company                 |  Investment class|             £'000|% of Net Assets|
+------------------------+------------------+------------------+---------------+
|Clifford Thames Group   |                  |                  |               |
|Limited                 |        Automotive|               966|          11.8%|
+------------------------+------------------+------------------+---------------+
|Diagnos Limited         |        Automotive|               825|          10.1%|
+------------------------+------------------+------------------+---------------+
|Pubco Services Limited  |Restaurants & bars|               750|           9.2%|
+------------------------+------------------+------------------+---------------+
|CSL DualCom Limited     |  Security devices|               700|           8.6%|
+------------------------+------------------+------------------+---------------+
|Salus Services 1 Limited|        Care homes|               614|           7.5%|
+------------------------+------------------+------------------+---------------+
|Bruce Dunlop &          |                  |                  |               |
|Associates International|                  |                  |               |
|Limited                 |             Media|               509|           6.2%|
+------------------------+------------------+------------------+---------------+
|Tristar Limited         |Chauffeur services|               500|           6.1%|
+------------------------+------------------+------------------+---------------+
|Vulcan Services II      |                  |                  |               |
|Limited                 |Oil & gas services|               500|           6.1%|
+------------------------+------------------+------------------+---------------+
|Greenco Services Limited|     Environmental|               500|           6.1%|
+------------------------+------------------+------------------+---------------+
|Businessco Services 2   |                  |                  |               |
|Limited                 | Business services|               200|           2.4%|
+------------------------+------------------+------------------+---------------+
















Dividends
In the annual report to 31 January 2010, the Board proposed a dividend of 2.50p
per share in respect of the year then ended.  If approved by shareholders at the
Annual General Meeting, this dividend will be paid on 9 July 2010 to those
shareholders who are on the register on 11 June 2010. This dividend is available
largely due to the successful exit of Funeral Services Partnership. A further
analysis of this can be found in the annual report to 31 January 2010.

Annual General meeting
The Annual General Meeting of Octopus Apollo VCT 2 plc will be held at 8 Angel
Court, London, EC2R 7HP on Monday, 21 June 2010 at 3.00 p.m.

Material events and transactions
The  Fund's Board  is not  aware of  any other  significant event or transaction
which  has occurred between the  1 May 2010 and the date  of publication of this
statement  which would have a  material impact on the  financial position on the
Fund.

For further information please contact:
Stuart Nicol - Fund Manager
Octopus Investments Limited - 0800 316 2347

ENDS


[HUG#1418862]







  



                                                                                                                                                     

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