Issue of Equity

Northern 3 VCT PLC
04 October 2002

Northern 3 VCT PLC ('The Company')



Issue of Shares



The Company announces that on 4 October 2002 it issued and allotted to 1
subscriber an additional 10,000 ordinary shares of 5p each under the 2002/03
Offer for Subscription representing approximately 0.07 per cent of the enlarged
issued share capital of the Company which now consists of 13,971,147 ordinary
shares.  The new shares were issued at a price of 100p per share.  Application
will be made at the earliest practicable opportunity for these shares, which
will rank pari passu with existing ordinary shares, to be admitted to the
Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities.






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