Director/PDMR Shareholding

Northern 2 VCT PLC
31 March 2006


Northern 2 VCT PLC (the 'Company')


Director Shareholding


Further to the Issue of Equity announcement released on Friday 31 March 2006, of
the 2,431,178 Ordinary Shares allotted under the 2005/06 Offer for Subscription
on Friday 31 March 2006, 28,297 Ordinary Shares were allotted to Mr Alastair
Macbeth Conn, a director of the Company at a price of 91p per share.


As a result of this allotment, Mr Conn has a beneficial interest in 139,225
Ordinary Shares of 5p each in the Company representing 0.31% per cent of the
current issued Ordinary Share capital.


In addition, of the 2,431,178 Ordinary Shares allotted under the 2005/06 Offer
for Subscription on Friday 31 March 2006, 45,275 Ordinary Shares were allotted
to Mr Edward Michael Patrick Denny, a director of the Company at a price of 91p
per share.


As a result of this allotment, Mr Denny has a beneficial interest in 70,275
Ordinary Shares of 5p each in the Company representing 0.16% per cent of the
current issued Ordinary Share capital.



END



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