Interim Results

Oxford Technology 2 VCT PLC
12 October 2000



Interim Statement
For the period 18 February 2000 to 31 August 2000


                                                                 Page 1

                        Statement on behalf of the Board

Oxford Technology 2 Venture Capital Trust plc raised a total of £6m in Spring
2000 with the objective of investing this in about 20 early stage and start-up
technology companies, in general within 60 miles of Oxford.

Since the Spring, two investments have been completed and a further two agreed
which are in the process of being completed. There continues to be a strong deal
flow and the Board is pleased with progress so far. Details of the investments
made and agreed are given in the accompanying newsletter.

On behalf of the Board.
John Jackson
1 October 2000



                         Unaudited Financial Information

Summarised statement of
total return for the period                     Period from
                                                   18 Feb 00
                                                to 31 Aug 00
                                                       £'000
Gain/(losses) on investments                            (26)
Income                                                  241
Expenses                                                (74)

Net return before taxation                              141
Tax on ordinary activities                              (35)

Return attributable to equity shareholders              106
Dividends in respect of equity shares                     -

Transfers to/(from) reserves                            106

Revenue earnings per share                             2.24p

Capital return per share                              (0.44)p

Total return per share                                  
                                                        1.80p

                                                               Page 2

Summarised Balance Sheet                            31 Aug 00
                                                        £'000
Unquoted investments                                      350
Government stocks                                       4,119
Other net current assets                                1,458

Net assets                                              5,927

Capital and reserves     
Called up share capital                                   600
Share premium:  Share issues                            5,400
       Expenses on share issues                          (179) 
  
                                                        5,821
Capital reserve-unrealised                               (26)
Revenue reserve                                           132
                                                        5,927 

Net asset value per share                                  99p

Cash Flow Statement
for the period                                     Period from
                                                     18 Feb 00
                                                  to 31 Aug 00
                                                         £'000
Net cash inflow/(outflow) from operating 
activities                                                (162)
Capital expenditure and
financial investment   
     Purchase of investments                            (5,050)
     Redemption of investments                             760

Net cash outflow for capital expenditure 
and financial investment                                (4,290)

Net cash flow before financing                          (4,452)


Financing                                             
      Issue of shares                                    6,000
      Expenses paid in connection with share issue        (179)

Net cash inflow from financing                           5,821

Increase in cash                                         1,369

                                                             Page 3
                    Company Information

Directors                                   Secretary
 John Jackson (Chairman)                    James Gordon
 Charles Breese
 Lucius Cary
 Michael O'Regan
 Sir Martin Wood

Investment Adviser                         Investment Manager
 Seed Capital Ltd                          and Registered Office
 Magdalen Centre                              Larpent Newton & Company Ltd
 Oxford Science Park                          4th Floor
 Oxford                                       24-26 Baltic Street West
 OX4 4GA                                      London  EC1Y  0UR

Registrars                                 Brokers
 IRG Plc                                      Cazenove & Co
 Balfour House                                12 Tokenhouse Yard
 390/398 High Road                            London  EC2R  7AN
 Ilford
 Essex  IG1 1NQ

       Notes To The Unaudited Financial Information on pages 2 and 3

1  The financial information for the interim period ended 31 August 2000 is 
   unaudited and does not constitute statutory accounts within the meaning of
   the Companies Act 1985.  It has been prepared using accounting policies
   consistent with those to be adopted in the company's statutory accounts for
   the period ending 28 February 2001.

2  The calculation of earnings per share for the period is based on the return
   attributable to shareholders divided by the weighted average number of
   shares in issue during the period from the launch of the fund.

3  Listed investments are stated at market value based upon middle market       
  prices at the accounting period end.  The unrealised depreciation or 
   appreciation on the valuation of investments and the gains and losses 
   arising on the disposal of investments are dealt with in the capital         
  reserve.

4  Copies of the Interim Statement are being sent to shareholders and further 
   copies can be obtained from the Company's Registered Office.

                                                              Page 4