Results of Share Offers

Northern 3 VCT PLC
18 June 2003

Northern 3 VCT PLC ('The Company')

Results of Share Offers

The Company announces that as at the closing of the 2003/04 Offer for
Subscription on Tuesday 17 June 2003, applications had been received under the
2002/03 and 2003/04 Offers for 2,981,963 ordinary shares at 100p per share with
a total subscription price of £2,981,963.  Both of the Offers are now closed.

All terms used in this announcement are as defined in the Company's Prospectus
dated 23 January 2003.

ENDS




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