Director/PDMR Shareholding

11 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 allotment of shares under the 2011/12 Offer for Subscription on 11 January 2012.  The Company was informed of the changes on 11 January 2012 and the transactions took place in London on 11 January 2012.

Director	Registered shareholders	Previous shareholding	Allotted under Offer for Subscription at 81.0p per share	Current shareholding	% of share capital currently held
A M Conn	A M Conn	141,240	169,723	310,963	0.55%
C G A Fletcher	C G A Fletcher C F Fletcher	44,980	30,032	75,012	0.13%
F L G Neale	F L G Neale	25,139	55,487	80,626	0.14%

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.

---

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Northern 2 VCT PLC via Thomson Reuters ONE

HUG#1576803