Result of Tender Offer

Northern Venture Trust PLC
22 March 2005


For immediate release on 22 March 2005

Northern Venture Trust PLC (the 'Company')

Result of Tender Offer

Following the announcement made on 24 February 2005, in which the Company stated
its intention to purchase shares from Ordinary Shareholders via a Tender Offer,
the Company now announces that by the closing date Qualifying Shareholders had
tendered a total of 2,965,751 Ordinary Shares (representing approximately 7.45%
of the Company's Ordinary Share Capital) to be repurchased by the Company under
the Tender Offer.  It is the Company's intention to accept all such tendered
shares in full, including all tenders up to the pro rata entitlement which was
available to Qualifying Shareholders and all tenders received in excess of the
pro rata entitlement.

The unaudited Net Asset Value ('NAV') as at 28 February 2005 was 90.1 pence per
Ordinary Share, which has been calculated in accordance with the Company's
normal valuation policy and the terms of the Tender Offer.  The Ordinary Shares
being repurchased by the Company under the Tender Offer will be acquired at NAV
less a discount of 5%, as set out in the terms of the Tender Offer, being 85.6
pence.  Completion of the purchase by the Company of Ordinary Shares
successfully tendered under the Tender Offer will be deemed to take place on 22
March 2005 and Settlement will be made on 11 April 2005.


ENDS

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