.

Northern Investors
Company PLC.

Top 20 investments by value as at 30 September 2011

Cost
£000
Valuation
£000
% of net assets
by value
Kerridge Commercial Systems 3,978 8,148 13.7
Control Risks Group Holdings 3,731 4,484 7.5
Kitwave One 3,633 3,633 6.1
Weldex (International) Offshore Holdings 3,253 3,253 5.4
Axial Systems Holdings 2,311 2,572 4.3
CloserStill Holdings 1,234 2,127 3.6
Alaric Systems 1,619 1,953 3.3
IG Doors 728 1,736 2.9
Envirotec 1,008 1,566 2.6
Paladin Group 1,407 1,552 2.6
Arleigh International 990 1,546 2.6
Wear Inns 1,304 1,304 2.2
Cawood Scientific 1,196 1,196 2.0
CGI Group Holidings 1,723 998 1.7
Optilan Group 1,900 950 1.6
Lanner Group 891 891 1.5
Closer2 Investments 866 866 1.4
S&P Coil Products 330 799 1.3
Promatic Group 1,195 755 1.3
Direct Valeting 578 750 1.3
Total 33,875 41,079 68.9