Statement re New share buyback policy, sharehol...

4 AUGUST 2010

NORTHERN VENTURE TRUST PLC (the "Company")

NEW SHARE BUYBACK POLICY, SHAREHOLDER MEETING, proposed tender offer AND
PROPOSED SHARE ISSUE

The Company announces a new share buyback policy, and announces the intention to
write  to shareholders in September 2010 to give notice of a shareholder general
meeting  to  be  held  in  October  2010 to consider resolutions to facilitate a
proposed  tender offer  and a  proposed share  issue to  raise up to £15 million
(before expenses) and to adopt proposed new articles of association.

Share  buyback policy - normal  market purchases at a  15% discount to net asset
value per share (NAV)

The  Company announces a new buyback policy, which will be effective as from 11
August  2010, whereby the Company will  endeavour to buy back  its shares in the
market  at  a  discount  of  15% to  the  latest  published  NAV, subject to the
conditions mentioned below and to market conditions.

The  timing  of  any  buyback  will  be  at  the discretion of the Company.  The
conditions  of any buyback effected  under this policy are  that the Company has
the  necessary shareholder  authority and  the acquisition  meets the  price and
other  conditions of  that authority,  the Company  has sufficient distributable
reserves  at the relevant  time, the Company  will continue to  qualify as a VCT
following  the acquisition and, in relation to the acquisition, the Company will
comply  with the Listing Rules  (in particular in relation  to the price payable
and  to times the  Company is prohibited  from buying its  own shares) and other
applicable  laws and regulations, and the  Company has sufficient cash to settle
the transaction relative to its projected cash requirements.

The  Directors were given  authority at the  January 2010 AGM to  acquire in the
market up to 5,958,941 shares (10% of the then issued shares) and 450,000 shares
have  to date been purchased in the  market under this authority.  The remaining
authority  continues  until  the  next  AGM  or  31 March  2011 if earlier.  The
authority  specifies that the  maximum price which  can be paid  for an ordinary
share is 105% of the average market value for the ordinary shares of the Company
for the five business days before the purchase.

The  most recently  published NAV  is 82.9p per  share, as at 30 June 2010.  The
average mid-market price for the Company's ordinary shares for the five business
days prior to 4 August 2010 was 69.4p.

Tender offer at a 3% discount to NAV

The  Directors propose  that, subject  to obtaining  shareholder approval at the
October 2010 general meeting, a tender offer will then be made to purchase up to
10% of  the then issued share  capital of the Company  at a price representing a
discount  of  3% to  the  audited  NAV  as at 30 September 2010 adjusted for any
declared  but unpaid dividends.   It is expected  that the tender  offer will be
made   in   early  November  2010 and  that  the  tender  offer  will  close  on
30 December 2010, with cash payments being made to participating shareholders in
early  January 2011.  The tender  offer will give  all shareholders the right to
tender  up to 10% of  their ordinary shares  held as at  5 November 2010 and the
opportunity  to tender more than their entitlement subject to the take up of the
offer by other shareholders.

Shareholders  who subscribed for  ordinary shares on  or after 6 April 2006 must
hold  such shares for five years  from the date of issue  in order to retain the
initial   income   tax   relief  granted  in  respect  of  their  subscription.
Shareholders  who successfully tender any ordinary shares which were allotted to
them  on or  after 6 April  2006 (other than  ordinary shares  issued in October
2009 on  the conversion of the C shares) would therefore lose the initial income
tax relief granted in respect of their subscription.

Share  issue to  raise up  to £15  million -  30% income tax relief available on
subscriptions

The  Directors propose  that, subject  to obtaining  shareholder approval at the
October  2010 general meeting,  there should  be an  issue of ordinary shares to
raise  up to £15 million (before expenses).   They expect that a prospectus will
be issued in November 2010.

Applications for the new shares will be considered on a first come first served
basis subject to the Directors' discretion.  Investors will be permitted to make
applications for shares in either or both of the 2010/11 and the 2011/12 tax
years.  It is anticipated that the share issue will remain open until 5 April
2011 in respect of the 2010/11 tax year and until late April 2011 in respect of
the 2011/12 tax year, subject to the Directors' right to close the share issue
at any time.

To  encourage early applications  an "early bird"  incentive equivalent to 2% of
the issue price will be given to applicants who apply before 31 January 2011 and
satisfy the Company that they, or their spouses, are shareholders of the Company
or of Northern 2 VCT PLC, Northern 3 VCT PLC or Northern AIM VCT PLC.

The  new shares will  be issued at  a premium to  the then last published NAV to
allow  for  issue  costs  (which  will  include  the  cost  of the  "early bird"
incentive)  of 5.5% of the amount  raised and to avoid  any material dilution in
the NAV attributable to each existing share when the new shares are issued.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website: www.nvm.co.uk


[HUG#1435879]








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Source: Northern Venture Trust PLC via Thomson Reuters ONE