Extn: Offer for Subscription

Northern 2 VCT PLC
10 April 2001

                      Northern 2 VCT PLC ('The Company')

                     Extension of Offer for Subscription

The Company announces that in response to continuing strong demand from
investors, the 2001/02 Offer for Subscription has been extended from its
original closing date of Thursday 12 April 2001 and will now close at 5pm on
Thursday 28 June 2001, unless fully subscribed at an earlier date or unless
the board elects to close the issue earlier.

As at 9 April 2001, applications had been received under the 2000/01 and 2001/
02 Offers for 16,884,783 ordinary shares at 105p per share with a total
subscription price of £17,729,022. A further 7,306,812 ordinary shares remain
available under the 2001/02 Offer for Subscription at an issue price of 105p
per share.

All terms used in this announcement are as defined in the Company's Prospectus
dated 18 January 2001.