.

Northern 2 VCT PLC.

Top 15 investments by value as at 30 September 2011

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Cost
£000
Valuation
£000
% of net assets
by value
Kerridge Commercial Systems 1,740 3,600 8.0
CloserStill Holdings 1,000 1,731 3.8
Envirotec 975 1,518 3.4
Alaric Systems 1,269 1,517 3.4
Paladin Group 1,538 1,442 3.2
Arleigh International 900 1,406 3.1
IG Doors 615 1,269 2.8
Kitwave One 1,246 1,246 2.7
Axial Systems Holdings 1,004 1,117 2.5
Wear Inns 1,116 1,116 2.5
Cawood Scientific 1,031 1,031 2.3
RCC Lifesciences 995 995 2.2
Evolve Investments 995 995 2.2
Tinglobal Holdings 988 988 2.2
Advanced Computer Software Group* 381 906 2.0
Total 15,793 20,877 46.3

* Quoted on AIM