Net Asset Value Adjustment (Unaudited)

Ventus 2 VCT plc (the "Company")

06 June 2011

Revised Valuations of Investments in Biomass Companies and Adjustment to Net Asset Value (unaudited)

The Company has made three investments in companies building and operating biomass power plants: PBM Power Limited ("PBM"), Sandsfield Heat and Power Limited ("SHPL") and Twinwoods Heat and Power Limited ("THPL"). PBM was the first of the three companies to construct a biomass plant and commence generation. The plant at PBM has experienced technical issues which have led to unplanned outages. These issues have led the Board and the investment manager, Climate Change Capital Limited ("CCC"), to re-assess the generation expectations and operational expenditure requirements of the plant. The Company has an investment in the ordinary shares of PBM of £574,000 and is owed £530,000 by PBM in respect of amounts that have been advanced to fund PBM's operating expenses. The Board believes it is prudent at this stage to record write-downs of the full balances of both the investment in the ordinary shares of PBM and the amount receivable relating to PBM's operating expenses. The total amount of the write-downs related to PBM is therefore £1,104,000.

The issues experienced at PBM have led the Board to consider the valuations of the investments in SHPL and THPL. The biomass power plant at SHPL is operational, but has already experienced outages and increased expenditures. The biomass power plant at THPL is not yet operational. It is opportune to consider the financial impact of these factors on the valuations of SHPL and THLP. The Board has therefore decided to record unrealised write-downs on SHPL and THLP of £950,000 and £400,000, respectively.

The effect of the write-downs of PBM, SHPL and THPL is to reduce the Company's NAV by £2,454,000, or 10.00 pence per share. These adjustments are as yet unaudited. The write-downs of the investments in PBM, SHPL and THPL do not affect the Company's "C" shares.

CCC is working with PBM, SHPL and THPL to address the operational issues and improve the performance of the assets. Further information about the investments in these three companies will be contained in the Company's Annual Report for the year ended 28 February 2011.

Investment Manager

CCC has informed the Board that its lead manager for the Company, Steve Read, has resigned his employment with CCC.

Enquiries should be directed to Robin Smeaton at The City Partnership (UK) Limited on 0131 243 7210.