Transaction in Own Shares

Northern 2 VCT PLC
14 January 2005


NORTHERN 2 VCT PLC ('The Company')

PURCHASE OF OWN SHARES

The Company announces that on 14 January 2005 it purchased for cancellation
under an existing authority granted by shareholders 12,200 ordinary shares of 5p
each in the market at a price of 79p, representing approximately 0.03 per cent
of the Company's issued share capital.  There remain 44,294,263 ordinary shares
in issue.


END




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