Director/PDMR Shareholding

9 JANUARY 2012

NORTHERN 2 VCT PLC

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

In accordance with the FSA's Disclosure Rules and Transparency Rules, Northern 2 VCT PLC ("the Company") announces the following changes to the beneficial interests of the Directors in the Company's ordinary shares of 5p each following the result of the Tender Offer which was announced on 9 January 2012.  The Company was informed of the changes on 9 January 2012 and the transactions took place in London on 9 January 2012.

Director	Registered shareholders	Holding before Tender Offer	Sold in Tender Offer at 74.2p per share	Current holding	% of share capital currently held
A M Conn	A M Conn	280,457	(139,217)	141,240	0.26%
C G A Fletcher	C G A Fletcher C F Fletcher	62,504	(17,524)	44,980	0.08%
F L G Neale	F L G Neale	68,377	(43,238)	25,139	0.05%

As set out in the Prospectus dated 9 November 2011, each of the Directors has committed to re-invest the proceeds which he receives from the Tender Offer in accordance with the terms of the Prospectus.  It is expected that new ordinary shares will be allotted accordingly to the Directors on 11 January 2012 in respect of the 2011/12 tax year.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website:  www.nvm.co.uk

Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.

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Source: Northern 2 VCT PLC via Thomson Reuters ONE

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