Issue of Equity

Northern Venture Trust PLC
10 September 2001

                  Northern Venture Trust PLC ('The Company')

                               Issue of Shares

The Company announces that on 10 September 2001 it issued and allotted to 5
subscribers an additional 76,925 ordinary shares of 25p each, representing
approximately 0.23 per cent of the enlarged issued share capital of the
Company which is now 40,949,336 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 the Official List of the UK Listing
Authority and to trading on the London Stock Exchange's market for listed
securities.