Interim Management Statement

17 JANUARY 2011

NORTHERN 3 VCT PLC

INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2010

Northern  3 VCT  PLC  presents  its  interim  management statement for the three
months  ended 31 December  2010.  This constitutes  the company's second interim
management statement for the financial year ending 31 March 2011, as required by
the UK Listing Authority's Disclosure and Transparency Rule 4.3.  This statement
has  been prepared solely to provide additional information in order to meet the
requirements  of the Disclosure and Transparency  Rules and should not be relied
on by shareholders, or any other party, for any other purpose.

The  unaudited net  asset value  per ordinary  share as  at 31 December 2010 was
90.8p (30 September 2010 89.3p).  The net asset value is stated before deducting
the  interim dividend of 2.0p per  share in respect of  the year ending 31 March
2011, which   was   declared   on  9 November  2010 and  was  paid  to  eligible
shareholders on 14 January 2011.

The  number of  ordinary shares  in issue  at 31 December 2010 was 38,790,760.
During  the three months ended 31 December 2010 no new shares were issued and no
shares were re-purchased by the company for cancellation.

For  the  purposes  of  calculating  the  net  asset  value  per  share,  quoted
investments  are  carried  at  bid  price  as  at  31 December 2010 and unquoted
investments  are carried at  fair value as  at 31 December 2010 as determined by
the directors.

During  the  three  months  ended  31 December  2010 the  following  significant
investment transactions took place:

New investments:

                                                                          Amount
Name of company         Business activity                               invested
                                                                            £000

Cawood Scientific       Analytical laboratory testing services for           825
                        land-based industries

IS Pharma (AIM quoted)* Speciality pharmaceuticals and medical devices       149


*Additional investment in existing portfolio company

Disposals:

None.

The directors are not aware of any other events or transactions which have taken
place  between 30 September 2010 and  the date of  publication of this statement
and which have had a material effect on the financial position of the company.

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 3 VCT PLC via Thomson Reuters ONE

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