It's late on Christmas Eve, and Angela is the last person to leave her office. When her car does not start, the security guard at first appears to be helpful, but soon turns out to be dangerous and delusional. Angela is trapped in the underground car park, and has to use her wits to stay alive and get out.
The cat-and-mouse theme of this film might not be original, but the parking lot setting does give it an edge. The darkness, the cold, grey concrete, the lack of natural light, and the maze-like layout, all contribute to the claustrophobic atmosphere. Being set on Christmas Eve also means the building and street outside are uncharacteristically empty of people, adding to the sense of being trapped and isolated.
Apart from a few minor characters who appear only briefly along the way, the film is carried by the two lead actors, who each give decent performances. The security guard alternates between being apologetic and almost sympathetic, to ranting in anger. These extremes, plus not being able to predict how he will respond at any time, make him all the more sinister. And - apart from running around in a low-cut, white dress, which barely contains her bosoms, and which gets wet through at one stage - Angela is certainly not your slasher movie bimbo. She's intelligent, mentally strong, fights back, and makes sensible decisions.
There are only a few gory set pieces throughout the film, but they are done with grisly finesse. (A sequence involving a victim on an office swivel-chair is particularly shocking and gruesome.) And although the first third of the film is a little slow to get going, once it does it's a very tense ride indeed.
P2 is not the best example I've ever seen of this type of psychological horror, but it's still intense and very suspenseful in places. And any film that uses the songs 'Santa Baby' and 'Blue Christmas' and makes them feel creepy and unsettling, has to be worth a watch. 4/5