Issue of Equity

Northern Bear Plc
21 December 2007

                                        
              Northern Bear Plc ('Northern Bear' or the 'Company')
                                        
                                Issue of Shares

Following the acquisition of Jennings Properties Limited announced on 13
November 2007, Northern Bear has issued a further 60,348 Ordinary Shares of 1p
each in the company ('Ordinary Shares') by way of additional consideration
following the finalisation of completion accounts. 

The shares will rank pari passu with the existing issued Ordinary Shares.
Application is being made for the new Ordinary Shares to be admitted to trading
on the AIM, which is expected to take place on 4 January 2008.

Following the issue of Ordinary Shares, the Company's issued and voting share
capital comprises 17,010,437 Ordinary Shares.

For further information, please contact:

Northern Bear Plc
David Jay
Tel: [phone]

Strand Partners Limited
James Harris / Braden Saunders
Tel: [phone]



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