Announcements

Northern 2 VCT PLC.




TIDMNTV

19 NOVEMBER 2010

NORTHERN 2 VCT PLC

INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 OCTOBER 2010

Northern 2 VCT PLC presents its interim management statement for the three
months ended 31 October 2010. This constitutes the company's second interim
management statement for the financial year ending 31 January 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 October 2010 was
77.4p (31 July 2010 76.7p). The net asset value is stated before deducting the
interim dividend of 2.0p per share in respect of the year ending 31 January
2011, which was declared on 23 September 2010 and will be paid to eligible
shareholders on 3 December 2010.

The number of ordinary shares in issue at 31 October 2010 was 56,547,998.
During the three months ended 31 October 2010 no new ordinary 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 October 2010 and unquoted
investments are carried at fair value as at 31 October 2010 as determined by the
directors.

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

New investments:

None

Realisations:

Carrying

value at

Sales Original 31 July

Name of company proceeds cost 2010

ÂGBP000 ÂGBP000 ÂGBP000



Andor Technology plc (quoted
on AIM) - part 276 78 244
disposal

Connaught plc (listed on
London Stock - 119 -
Exchange) - written off, in
administration

Shieldtech plc (quoted on
AIM) - written off, - 248 30
in administration

The directors are not aware of any other events or transactions which have taken
place between 31 July 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.


[HUG#1464254]








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(i) the releases contained herein are protected by copyright and
other applicable laws; and
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originality of the information contained therein.

Source: Northern 2 VCT PLC via Thomson Reuters ONE


(END) Dow Jones Newswires



November 19, 2010 10:16 ET (15:16 GMT)