Issue of Equity

Northern 3 VCT PLC
22 July 2005


Northern 3 VCT PLC ('The Company')

Issue of Shares

The Company announces that on 22 July 2005 the Company allotted 31,092
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 93.8 per share. There remain 31,644,429 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.

Ends




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