Director/PDMR Shareholding

Northern 2 VCT PLC
01 December 2006


Northern 2 VCT PLC (the 'Company')

Director Shareholding

Further to the Issue of Equity announcement released earlier today, of the 
58,228 ordinary shares allotted today under the terms of the Company's 
Dividend Investment Scheme, 1,737 ordinary shares were allotted to Mr A M Conn,
a director of the Company at a price of 83.5p per share.  As a result of this 
allotment, Mr Conn currently has a beneficial interest in 146,773 ordinary 
shares of 5p each in the Company representing 0.30% per cent of the enlarged 
issued share capital.

In addition, 699 ordinary shares were allotted to Mr F L G Neale, a director 
of the Company at a price of 83.5p per share.  As a result of this allotment, 
Mr Neale currently has a beneficial interest in 59,068 ordinary shares of 5p 
each in the Company representing 0.12% per cent of the enlarged issued share 
capital.

In addition, 1,197 ordinary shares were allotted to Dr M W Ridley, a director 
of the Company at a price of 83.5p per share.  As a result of this allotment, 
Dr Ridley currently has a beneficial interest in 217,121 ordinary shares of 
5p each in the Company representing 0.44% per cent of the enlarged issued share 
capital.

END




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