Issue of Equity

Northern 3 VCT PLC
06 April 2005


Northern 3 VCT PLC ('The Company')

Allotment of shares

The Company announces that on 5 April 2005 it issued and allotted to 79
subscribers an additional 1,099,300 ordinary shares of 5p each in respect of the
latest Offer for Subscription for the 2004/05 tax year, which has now closed.
The enlarged issued share capital of the Company now consists of 31,197,681
ordinary shares. The current Offer for Subscription for the 2005/06 tax year
remains open and will close on 28 April 2005 or when fully subscribed.

Application will be made at the earliest practicable opportunity for the new
shares, which will rank pari passu with the 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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