TIDMNTV 
 
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 
                                  GBP000     GBP000            GBP000 
 
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:  www.nvm.co.uk 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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