Transaction in Own Shares

Northern 2 VCT PLC
01 October 2004


NORTHERN 2 VCT PLC ('The Company')

PURCHASE OF OWN SHARES

The Company announces that on 30 September 2004 it purchased for cancellation
under an existing authority granted by shareholders 27,500 ordinary shares of 5p
each in the market at a price of 76p, representing approximately 0.06 per cent
of the Company's issued share capital.  There remain 44,263,505 ordinary shares
in issue.

END




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