Transaction in Own Shares

Northern 2 VCT PLC
05 May 2004


NORTHERN 2 VCT PLC (The 'Company')

PURCHASE OF OWN SHARES

The Company announces that on 5 May 2004 it purchased for cancellation under an
existing authority granted by shareholders 70,000 ordinary shares of 5p each in
the market at a price of 75p, representing approximately 0.16 per cent of the
company's issued share capital. There remain 44,435,305 ordinary shares in
issue.


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