Over Allotment Facility

British Smaller Companies VCT2 plc

Issue of Equity

British Smaller Companies VCT2 plc (the "Company") and British Smaller Companies VCT plc are seeking to raise £30 million in aggregate by way of offers for subscription ("Offers"). Full details of the Offers are contained in a prospectus issued by the Company and British Smaller Companies VCT plc on 20 October 2014 (the "Prospectus").

Following the successful launch, the level of funds raised to 6 March 2015 under the Offers total more than £28 million and as a result of the continuing level of demand the directors have today confirmed that the over allotment facility of £10 million included in the Offers will be used in relation to the Offers. This increases the maximum amount which can be raised under the Offers to £40 million in aggregate.

The Offers remain open and will close no later than 11:00 am on 4 April 2014 in respect of the 2014/2015 Offer and not later than 11:00 am on 30 April 2015 in respect of the 2015/2016 Offer, unless the Offers are fully subscribed at an earlier date.

A copy of the Prospectus was submitted to the National Storage Mechanism and is available to the public for viewing online at the following web-site address: http://www.hemscott.com/nsm.do. It can also be viewed on the Company's website http://www.bscfunds.com.

9 March 2015

For further information, please contact:

David Hall YFM Private Equity Limited Tel: 0113 244 1000

Emily Watts Nplus1 Singer Advisory LLP Tel: 020 7496 3000