Issue of Equity

British Smaller Companies VCT2 plc (the "Company")

Offer for Subscription: Allotment of Shares

Further to the Company's announcement of 10 April 2012 (the "Announcement") relating to an allotment of 5,080,416 ordinary shares of 10 pence each (the "Ordinary Shares") pursuant to the Company's initial offer for subscription of up to 14,539,007 ordinary shares, an extension in the size of which was announced on 5 April 2012, dealings are expected to commence on or around 20 April 2012 in respect of 444,229 of the Ordinary Shares that were allotted as a result of that extension and not on or around 16 April 2012 as stated in the Announcement.

For further information, please contact:

David Hall YFM Private Equity Limited Tel: 0113 294 5055

Claes Spang Singer Capital Markets Tel: 0203 205 7500