Transaction in Own Shares

Northern 2 VCT PLC
26 January 2004


NORTHERN 2 VCT PLC (The 'Company')

PURCHASE OF OWN SHARES

The Company announces that on 26 January 2004 it purchased for cancellation
under an existing authority granted by shareholders 10,000 ordinary shares of 5p
each in the market at a price of 73p, representing approximately 0.02 per cent
of the company's issued share capital.  There remain 44,810,205 ordinary shares
in issue.

END


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