Transaction in Own Shares

Northern 2 VCT PLC
05 July 2004

NORTHERN 2 VCT PLC (The 'Company')

PURCHASE OF OWN SHARES

The Company announces that on 2 July 2004 it purchased for cancellation under an
existing authority granted by shareholders 35,000 ordinary shares of 5p each in
the market at a price of 77p, representing approximately 0.08 per cent of the
company's issued share capital.  There remain 44,311,505 ordinary shares in
issue.

END


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