Further re Issue of Equity

Northern 3 VCT PLC
8 April 2002



Northern 3 VCT PLC ('The Company')


Extension of Offer for Subscription


The Company announces that in response to continuing demand from investors, the
2002/03 Offer for Subscription has been extended from its original closing date
of Thursday 11 April 2002 and will now close at 5pm on Wednesday 19 June 2002,
unless fully subscribed at an earlier date or unless the board elects to close
the issue earlier.

As at 8 April 2002, applications had been received under the 2001/02 and 2002/03
Offers for 12,314,994 ordinary shares at an issue price of 100p per share. A
further 12,685,006 ordinary shares remain available under the 2002/03 Offer for
subscription at an issue price of 100p per share.

All terms used in this announcement are as defined in the Company's Prospectus
dated 26 September 2001.



ENDS





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