Director Declaration

British Smaller Companies VCT2 plc (the "Company")

New Directorship for the Chairman

Mr Richard Last, Chairman and Non-executive director of the Company, was appointed as Chairman and Non-executive director of Gamma Communications plc (formerly Gamma Communications Limited) ("Gamma"), a UK based provider of communication services, with effect from 17 June 2014. On 10 October 2014, the ordinary shares of Gamma were admitted to trading on AIM.

The Company announces in accordance with Listing Rule 9.6.14(2) that Mr Richard Last remains as Chairman and a non-executive director of Gamma, now a publicly quoted company.

As part of the placing of Gamma's ordinary shares, Mr Richard Last and the Company have each invested £100,000 and £168,418 respectively in Gamma.

10 October 2014

For further information, please contact:

David Hall YFM Private Equity Limited Tel: 0161 832 7603

Gillian Martin Nplus1 Singer Advisory LLP Tel: 020 7496 3000