Director Shareholding

Northern 2 VCT PLC
20 February 2001

                      NORTHERN 2 VCT PLC (the 'Company')


                           DIRECTORS' SHAREHOLDINGS

The Company has been notified that as a result of the first allotment of
shares under the Shareholder Offers and the Offers for Subscription made on 16
February 2001 the following directors of the Company have increased their
shareholdings in the Company as set out below:

                                    Number        Resultant          Percentage
                                 of shares        number of           of issued
Director                          allotted      shares held       share capital

A M Conn                            41,813           75,000               0.27%
C G A Fletcher                      20,504           40,504               0.15%
Prof Sir Frederick Holliday          3,063            8,063               0.03%

ENDS