Portfolio update

29 MAY 2012

NORTHERN VENTURE TRUST PLC

PORTFOLIO UPDATE

Northern Venture Trust PLC ("NVT") announces the sale of its investment in Closerstill Holdings Limited ("Closerstill"), which organises business-to-business exhibitions, to Aghoco 1090 Limited, a company controlled by venture capital funds managed by Phoenix Equity Partners.

NVT received cash proceeds of £2.99 million for its investment in ordinary shares and loan stock in Closerstill.  The carrying value of the investment in Closerstill in NVT's unaudited half-yearly financial statements for the six months ended 31 March 2012, published on 18 May 2012, was £2.75 million.  The uplift in NVT's net assets resulting from the sale is therefore £0.24 million, equivalent to approximately 0.3p per ordinary share.

As part of the same transaction NVT exchanged its holding of ordinary shares and loan stock in Closer 2 Investments Limited (a sister company of Closerstill), which had a carrying value of £0.89 million at 31 March 2012, for £0.79 million of unsecured loan notes and a 2.7% equity shareholding in Aghoco 1100 Limited, a company also controlled by venture capital funds managed by Phoenix Equity Partners.  The loan notes and equity shareholding were together valued for the purposes of the transaction at £0.89 million.

For further information, please contact:

NVM Private Equity Limited
Alastair Conn/Christopher Mellor             0191 244 6000

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Source: Northern Venture Trust PLC via Thomson Reuters ONE

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