Transaction in Own Shares

Northern 2 VCT PLC
18 October 2004


NORTHERN 2 VCT PLC ('The Company')

PURCHASE OF OWN SHARES

The Company announces that on 15 October 2004 it purchased for cancellation
under an existing authority granted by shareholders 17,500 ordinary shares of 5p
each in the market at a price of 78p, representing approximately 0.04 per cent
of the Company's issued share capital.  There remain 44,170,005 ordinary shares
in issue.


END




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