Issue of Equity

Northern 3 VCT PLC
26 November 2004


Northern 3 VCT PLC ('The Company')

Issue of Shares

The Company announces that on 26 November 2004 the Company allotted 110,925
ordinary shares of 5p each to shareholders who agreed to subscribe for shares
under the terms of the Company's Dividend Investment Scheme.  The subscription
price was 94.5p 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.

Ends




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