Director Shareholding

Northern 2 VCT PLC
03 June 2005


Northern 2 VCT PLC (the 'Company')

Director Shareholding

Further to the Issue of Equity announcement released earlier today, of the
75,994 ordinary shares allotted today under the terms of the Company's Dividend
Investment Scheme, 1,805 ordinary shares were allotted to Mr A M Conn, a
director of the Company at a price of 89.7p per share.  As a result of this
allotment, Mr Conn currently has a beneficial interest in 109,696 ordinary
shares of 5p each in the Company representing 0.25% per cent of the enlarged
issued share capital.

In addition, 1,672 ordinary shares were allotted to Dr M W Ridley, a director of
the Company at a price of 89.7p per share.  As a result of this allotment, Dr
Ridley currently has a beneficial interest in 209,563 ordinary shares of 5p each
in the Company representing 0.48% per cent of the enlarged issued share capital.

In addition, 903 ordinary shares were allotted to Mr F L G Neale, a director
of the Company at a price of 89.7p per share.  As a result of this allotment, Mr
Neale currently has a beneficial interest in 54,848 ordinary shares of 5p each
in the Company representing 0.12% per cent of the enlarged issued share capital.

END


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