Results of Share Offers

Northern 2 VCT PLC
29 June 2001

NORTHERN 2 VCT PLC ('THE COMPANY')

RESULTS OF SHARE OFFERS

The Company announces that as at the closing of the 2001/02 Offer for
Subscription on Thursday 28 June 2001, applications had been received under
the 2000/01 and 2001/02 Offers for 20,993,010 ordinary shares at 105p per
share with a total subscription price of £22,042,660. All of the Offers are
now closed. All terms used in this announcement are as defined in the
Company's Prospectus dated 18 January 2001.