Offer Update

BARONSMEAD VCT 2 PLC - Offer Update

PR Newswire

London, December 18

18 December 2012

Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3 plc, Baronsmead VCT 4 plcand Baronsmead VCT 5 plc

Offers for Subscription - Update

On 20 November 2012 Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3 plc,Baronsmead VCT 4 plc and Baronsmead VCT 5 plc (together "the Companies")published a Prospectus in relation to offers for subscription for new ordinaryshares of 10p each in each of the Companies, to raise in aggregate up to £30 million (before issue costs) (the "Offers" and each an "Offer"). The Offersopened on 11 December 2012.

The directors of Baronsmead VCT 2 plc have been advised that, on the basis ofthe Subscription Forms received at the close of business on 17 December 2012,the Offer for Baronsmead VCT 2 plc is fully subscribed and is now closed.Subscribers to this Offer whose Subscription Forms are received after itsclosure will have their Subscription re-allocated or returned in accordancewith their instructions on their Subscription Form and the Terms and Conditionsof Subscriptions.

The Offer for Baronsmead VCT plc became fully subscribed and closed on 14 December 2012. The Offers for Baronsmead VCT 3 plc, Baronsmead VCT 4 plc andBaronsmead VCT 5 plc are not yet fully subscribed and will remain open until 5 April 2013 (unless fully subscribed by an earlier date or previously extendedby the directors to no later than 30 April 2013). Valid applications to datefor these Offers are as follows:

Baronsmead VCT 3 plc £3.9 million

Baronsmead VCT 4 plc £3.1 million

Baronsmead VCT 5 plc £1.6million

The first allotment of new ordinary shares in the Companies is expected to beon or around 21 December 2012 with dealings expected to commence three BusinessDays thereafter.

For further information, please contact: