The first bi-metallic £2 coin was minted in 1997 featuring the Raphael David Maklouf Portrait. However the coins did not enter circulation until the following year and by this time the Royal Mint had commissioned a new portrait for coins by Ian Rank-Broadley. As millions of the 1997 coins had already been struck they entered circulation at the same time as the 1998 coins featuring the new portrait. 
 
Obverse: Raphael David Maklouf Portrait - the only bi-metallic £2 coin to feature this portrait. 
Reverse: depicting an abstract design symbolising technological achievement and development; this design was used until 2015. Also known as 'Technology' or 'Standing on the Shoulders of Giants'  as per the inscription. (designed by Bruce Rushin).