20,000 New Shares Issed

NORTHERN 2 VCT PLC
22 October 1999


NORTHERN 2 VCT

SHARE ALLOTMENT

The Company announces that it has issued and allotted 20,000 new ordinary
shares of 5p each, representing approximately 0.1 per cent. of the enlarged
issued share capital of the Company.  The new shares were issued at a price of
100p per share.  Application will be made at the earliest practicable
opportunity for admission of the new ordinary shares issued to the Official
List of the London Stock Exchange.