Issue of Equity

Northern 3 VCT PLC
21 July 2006


Northern 3 VCT PLC ('The Company')

Issue of Shares

The Company announces that on 21 July 2006 the Company allotted 77,826
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 95.2p per share. Following the above allotment, there are 30,908,999
ordinary shares in issue.

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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