Director Shareholding

Northern 2 VCT PLC
25 May 2001

                      Northern 2 VCT PLC ('The Company')


                           DIRECTOR'S SHAREHOLDING

The Company has been notified that as a result of the allotment of shares
under the 2001/02 Offer for Subscription made on 25 May 2001, Alastair Conn
has increased his shareholding in the Company by 25,000 ordinary shares and
now holds 100,000 ordinary shares representing 0.23 per cent of the enlarged
issued share capital.