Interim Management Statement

14 MAY 2009 NORTHERN 2 VCT PLC INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 30 APRIL 2009 Northern 2 VCT PLC presents its interim management statement for the three months ended 30 April 2009. This constitutes the company's first interim management statement for the financial year ending 31 January 2010, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3. The unaudited net asset value per ordinary share as at 30 April 2009 was 75.6p (31 January 2009 69.8p). The net asset value is stated before deducting the final dividend of 3.5p per share in respect of the year ended 31 January 2009, which was approved by shareholders at the annual general meeting on 14 May 2009 and will be paid to eligible shareholders on 5 June 2009. The number of ordinary shares in issue at 30 April 2009 was 56,855,661. During the three months ended 30 April 2009 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 30 April 2009 and unquoted investments are carried at fair value as at 30 April 2009 as determined by the directors. During the three months ended 30 April 2009 the following significant investment transactions took place (companies unquoted except where otherwise indicated): New investments: None Realisations: Carrying Sales Original value at Name of company proceeds cost 31 January 2009 £000 £000 £000 Pivotal Laboratories Holdings 1,563 857 1,563 (trade sale) The directors are not aware of any other events or transactions which have taken place between 31 January 2009 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: ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.