Issue of Equity

9 FEBRUARY 2012

NORTHERN 2 VCT PLC

ISSUE OF EQUITY AND TOTAL VOTING RIGHTS

Northern 2 VCT PLC ("the Company") announces that on 9 February 2012 it allotted to 595 subscribers 10,885,120 ordinary shares of 5p each under the Offer for subscription, details of which were set out in the Prospectus dated 9 November 2011.  The new ordinary shares were issued at a price of 82p per share, in accordance with the Pricing Formula set out in the Prospectus.

Application will be made at the earliest practicable opportunity for these shares, which will rank pari passu with existing ordinary shares, to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities.

The maximum amount to be raised under the Offer (before issue costs) is £15,000,000.  As at the close of business on 8 February 2012, the Company had accepted applications totalling over £13,800,000 for Offer Shares.  Future applications will, as stated in the Prospectus, be dealt with on a "first come-first served" basis, subject to the absolute discretion of the Board.  The Offer opened on 9 November 2011 and is due to close no later than 5 April 2012 for the 2011/12 tax year and 30 April 2012 for the 2012/13 tax year, or when fully subscribed.

In conformity with the Transparency Directive, the Company notifies the market that the capital of the Company consists of 67,374,090 ordinary shares with a nominal value of 5p each.  All the shares have voting rights.

The Company does not hold any ordinary shares in treasury.

Therefore, the total number of voting rights in the Company is 67,374,090 (the "Figure").

The Figure may be used by a shareholder or other person as the denominator for the calculations by which he will determine if he is required to notify the voting rights he holds in relation to the Company, or a change to those voting rights, under the FSA's Disclosure Rules and Transparency Rules.

Defined terms in this announcement have the same meaning as in the Prospectus dated 9 November 2011.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website:  www.nvm.co.uk

Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.

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Source: Northern 2 VCT PLC via Thomson Reuters ONE

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