RESIGNATION OF DIRECTOR

Northern Venture Trust PLC
11 May 2001

NORTHERN VENTURE TRUST PLC

RESIGNATION OF DIRECTOR

The company announces that Mr Ian Ritchie has today resigned from the board

in order to take up an active role with a venture capital fund focussing on

technology investment. Mr Ritchie was appointed to the board in 1995 on the

formation of the company.

ENDS