Offer for Subscription closed

Northern 3 VCT PLC
04 April 2005


Northern 3 VCT PLC ('The Company')

Offer for subscription closed

The Company announces that the current Offer for Subscription is now closed. As
at the closing date on 4 April 2005, applications had been received for
2,699,763 ordinary shares. Of this amount 2,673,510 ordinary shares have been
allotted in the 2004/05 tax year. The current issued share capital of the
Company now consists of 30,098,381 ordinary shares.

A further offer for subscription in respect of 3,000,000 ordinary shares to be
allotted in the 2004/05 and 2005/06 tax years has today been launched and is
open for subscription from 6pm today.




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