Oxford Technology Venture Capital Trust plc

                               Interim Statement

                                 For the period

                         1 March 2005 to 31 August 2005

                       Statement on behalf of the Board

Net Assets per share at 31 August 2005 were £0.87, £0.94 on 28 Feb 2005 and
£1.26 on 31 August 2004.  The major reason for the fall in net asset value has
been the fall in value of the holding in Avidex, which has been written down to
just £4,305, compared to £300,000 (cost) at 28 Feb 2005, and £1.3m a year ago.
The reason for this dramatic fall is that when the large Venture Capitalists
invested in 2002, they did so by means of special shares with price protection,
and then later with high interest loans.  The consequence is very large
dilution for OT1 and all early shareholders...