Transaction in Own Shares

Northern 2 VCT PLC
31 October 2006


NORTHERN 2 VCT PLC ('The Company')

PURCHASE OF OWN SHARES

The Company announces that on 31 October 2006 it purchased for cancellation
under an existing authority granted by shareholders 97,000 ordinary shares of 5p
each in the market at a price of 76.1p, representing approximately 0.20 per cent
of the Company's issued share capital.  There remain 48,831,129 ordinary shares
in issue.

END






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