EGM and Second Interim Div

Northern 2 VCT PLC
16 January 2001

NORTHERN 2 VCT PLC (the 'Company')

The Company announces that at an Extraordinary General Meeting held earlier
today, all the resolutions in respect of the proposed increase in the
authorised share capital of the Company and grant of authority to issue
ordinary shares of 5p each were duly passed.

The Company also announces that following a Board Meeting held earlier today
the Company declared a Second Interim Dividend in respect of the year ending
31 January 2001 of 1.4p per ordinary share which will be paid on 8 June 2001
to shareholders on the register at the close of business on 26 January 2001.