Offer for Subscription closed

Northern 3 VCT PLC
31 March 2005


Northern 3 VCT PLC ('The Company')

Offer for subscription closed

The Company announces that the current Offer for Subscription is now closed. As
at the closing date on 31 March 2005, applications had been received for
2,399,696 ordinary shares at 99p per share raising gross proceeds for the
Company of £2,375,699.04.

A further offer for subscription in respect of 2,700,000 ordinary shares to be
allotted in the 2004/05 and 2005/06 tax years has today been launched and is
open for subscription with immediate effect.




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