Interim Management Statement

28 JANUARY 2011

NORTHERN VENTURE TRUST PLC

INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2010

Northern  Venture Trust  PLC presents  its interim  management statement for the
three  months  ended  31 December  2010.  This  constitutes  the company's first
interim management statement for the financial year ending 30 September 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
82.2p (30  September 2010 (audited) 85.2p).  The net asset value is stated after
deducting  the final dividend of 4.5p per share in respect of the year ended 30
September 2010, which was approved by shareholders at the annual general meeting
on 16 December 2010 and was paid to eligible shareholders on 17 December 2010.

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

On  17 December 2010 the company allotted 427,137 new ordinary shares at a price
of  80.7p per share pursuant to the  company's dividend reinvestment scheme.  On
20 December  2010 the  company  purchased  for  cancellation  5,913,941 existing
ordinary  shares at a price  of 78.3p per share in  accordance with the terms of
the tender offer announced on 16 November 2010.  On 23 December 2010 the company
allotted 2,367,338 new ordinary shares at a price of 86.0p per share pursuant to
the  company's  public  offer  of  shares  for  subscription  in the 2010/11 and
2011/12 tax  years.  The number of ordinary shares in issue at 31 December 2010
was 56,019,952.

On  12 January 2011 the company allotted a further 3,251,840 new ordinary shares
at  a price of 86.0p per share pursuant  to the company's public offer of shares
for subscription in the 2010/11 and 2011/12 tax years.

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

Brady (AIM quoted)      Trading and risk management software for the         142
                        commodity sector

Cawood Scientific       Analytical laboratory testing services for         1,073
                        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 Venture Trust PLC via Thomson Reuters ONE

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