ARMED police were called to Shiplake College following reports of a car containing a wanted man in the area.
Officers chased the vehicle into Church Lane where they arrested two men, aged 30 and 26, on suspicion of dangerous driving and failing to stop.
The drama happened on Wednesday afternoon. A police helicopter was scrambled and sniffer dogs were spotted in the grounds of the Plowden Arms pub opposite.
Landlord Matt Woodley, said officers had told him the men were known to police.
He added: ?They think they have stashed something nearby for someone to pick up. The police were sat outside the pub for quite a while. It was quite exciting and a little bit scary.?
A Shiplake College spokesman said: ?We were made aware of two males who had entered the site by Church Lane.
?They were being tracked by the police and trying to get away and it was all over very quickly. We were told they weren?t dangerous but not to approach them.
?All the staff were told. At the time all the students were supervised.?
It is understood one of the men was wanted by Hampshire Police.