Issue of Equity

Northern Venture Trust PLC
21 September 2001


                  Northern Venture Trust PLC ('The Company')

                               Issue of Shares


The Company announces that on 21 September 2001 it issued and allotted to one
subscriber an additional 11,936 ordinary shares of 25p each, representing
approximately 0.03 per cent of the enlarged issued share capital of the
Company which is now 40,961,272 ordinary shares,. The new shares were issued
at a price of 110p per share. Application will be made at the earliest
practicable opportunity for these shares, which will rank pari passu with
existing ordinary shares, to be admitted the Official List of the UK Listing
Authority and to trading on the London Stock Exchange's market for listed
securities.