Director Shareholding

Northern 3 VCT PLC
31 March 2003



Northern 3 VCT PLC ('The Company')

DIRECTOR'S SHAREHOLDING



The Company has been notified today that as a result of the allotment of shares
under the 2002/03 Offer for Subscription made on 31 March 2003, Mr Christopher
John Fleetwood has subscribed for 5,100 ordinary shares of 5 pence each at a
price of 100 pence per share, representing approximately 0.03% of the enlarged
issued share capital of the Company.  Mr Fleetwood has a total holding of 15,300
shares in the Company, representing approximately 0.10% of the enlarged issued
share capital.




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