Issue of Equity

Northern 2 VCT PLC
26 February 2001


Northern 2 VCT PLC ('The Company')

Issue of Shares

The Company announces that it has today issued and allotted an additional
47,600 ordinary shares of 5p each under the 2000/01 Offer for Subscription
representing approximately 0.17 per cent of the enlarged issued share capital
of the Company, to various subscribers. The new shares were issued at a price
of 105p per share. Application will be made at the earliest practicable
opportunity for admission of the new ordinary shares to the Official List of
the London Stock Exchange.