Issue of Equity

31 March 2010

NORTHERN 3 VCT PLC ("the Company")

Issue of ORDINARY Shares

The  Company  announces  that  on  31 March  2010 it allotted to 151 subscribers
2,143,564 ordinary  shares of 5p each under the 2009/10 Offer for Subscription.
The new ordinary shares were issued at a price of 95p per share.

Application  will  be  made  at  the  earliest practicable opportunity for these
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.

In  conformity with the Transparency Directive,  the Company notifies the market
that  the capital of  the Company consists  of 35,920,800 ordinary shares with a
nominal value of 5p each.  All the shares have voting rights.

The Company does not hold any ordinary shares in treasury.

Therefore,  the total number of voting rights in the Company is 35,920,800 ("the
Figure").

The  Figure may be used by a shareholder  or other person as the denominator for
the  calculations by  which he  will determine  if he  is required to notify the
voting  rights he holds in relation to the  Company, or a change to those voting
rights, under the FSA's Disclosure and Transparency Rules.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website:  www.nvm.co.uk <

http://www.nvm.co.uk/>



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