Announcements

Northern Investors Company PLC.

29 MAY 2012

NORTHERN INVESTORS COMPANY PLC

PORTFOLIO UPDATE

Northern Investors Company PLC ("Northern Investors") announces the sale of its investment in Closerstill Holdings Limited ("Closerstill"), which organises business-to-business exhibitions, to Aghoco 1090 Limited, a company controlled by venture capital funds managed by Phoenix Equity Partners.

Northern Investors received cash proceeds of £3.69 million for its investment in ordinary shares and loan stock in Closerstill.  The carrying value of the investment in Closerstill in Northern Investors' audited financial statements for the year ended 31 March 2012, published on 16 May 2012, was £3.37 million.  The uplift in Northern Investors' net assets resulting from the sale is therefore £0.32 million, equivalent to approximately 2.0p per ordinary share.  The disposal is consistent with the orderly portfolio realisation strategy being pursued by the board.

As part of the same transaction Northern Investors exchanged its holding of ordinary shares and loan stock in Closer 2 Investments Limited (a sister company of Closerstill), which had a carrying value of £0.87 million at 31 March 2012, for £0.77 million of unsecured loan notes and a 2.6% equity shareholding in Aghoco 1100 Limited, a company also controlled by venture capital funds managed by Phoenix Equity Partners.  The loan notes and equity shareholding were together valued for the purposes of the transaction at £0.87 million.

For further information, please contact:

Northern Investors Company PLC
Nigel Guy/Christopher Mellor                   0191 244 6000

Oriel Securities
Joe Winkley/Neil Winward                      020 7710 7600




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Source: Northern Investors Co PLC via Thomson Reuters ONE

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