Interim Dividend

Northern 3 VCT PLC
19 January 2004


For immediate release on 19 January 2004

NORTHERN 3 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2003 AND INTERIM DIVIDEND

Northern 3 VCT PLC (the 'Company') announces that the unaudited net asset value
per share as at 31 December 2003 was 95.2p. The directors have declared an
interim dividend of 0.5p per share for the six months ending 31 March 2004,
which will be paid on 13 May 2004 to shareholders on the register on 31 January
2004.

The Company is today launching a small top-up offering of up to 1.76 million new
ordinary shares of 5p each in the Company at a price of 100p per share. This
offering will close at 5.00pm on 5 April 2004, or earlier if fully subscribed.

Enquiries:
Alastair Conn or Christopher Mellor, Northern Venture Managers Limited - 0191
244 6000

Website: www.nvm.co.uk
ENDS



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