Issue of Equity

Northern Venture Trust PLC
17 August 2001


                  Northern Venture Trust PLC ('The Company')


                               Issue of Shares


The Company announces that on 17 August 2001 it issued and allotted to 4
subscribers an additional 111,499 ordinary shares of 25p each, representing
approximately 0.27 per cent of the enlarged issued share capital of the
Company which is now 40,666,895 ordinary shares. The new shares were issued at
a price of 110p per share. 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.