INTERIM DIVIDEND

Northern Venture Trust PLC
04 March 2004


NORTHERN VENTURE TRUST PLC
4 MARCH 2004
UNAUDITED NET ASSET VALUE AS AT 29 FEBRUARY 2004 AND INTERIM DIVIDEND

Northern Venture Trust PLC ('the Company') announces that the unaudited net
asset value per share as at 29 February 2004 was 89.6p. The directors have
declared an interim dividend of 2.0p per share for the six months ending 31
March 2004, which will be paid on 11 June 2004 to shareholders on the register
on 12 March 2004.

The Company is today writing to registered shareholders to inform them that it
is opening an offer of up to 3,968,752 new ordinary shares of 25p each in the
Company, representing 10% of the current issued share capital, at a price of 95p
per share for subscription in the 2003-04 tax year. This offer will close at
5.00pm on 5 April 2004, or earlier if fully subscribed.

Enquiries:
Alastair Conn or Christopher Mellor, Northern Venture Managers Limited - 0191
244 6000

Website: www.nvm.co.uk

ENDS



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