Net Asset Value(s)

22 FEBRUARY 2011

NORTHERN 2 VCT PLC

UNAUDITED NET ASSET VALUE AS AT 31 JANUARY 2011

Northern  2 VCT PLC  announces that  the unaudited  net asset value per ordinary
share  as at  31 January 2011 was  76.8p.  The net  asset value  is stated after
deducting  the first interim  dividend of 2.0p per  share in respect  of the 14
month accounting period ending 31 March 2011, which was declared on 23 September
2010 and paid to eligible shareholders on 3 December 2010.

The number of ordinary shares in issue at 31 January 2011 was 56,490,243.

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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