TIDMNTV 
 
13 MAY 2010 
 
NORTHERN 2 VCT PLC 
 
INTERIM MANAGEMENT STATEMENT 
FOR THE QUARTER ENDED 30 APRIL 2010 
 
Northern  2 VCT  PLC  presents  its  interim  management statement for the three 
months  ended  30 April  2010.  This  constitutes  the  company's  first interim 
management  statement for the financial year ending 31 January 2011, 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 2010 was 78.9p 
(31  January  2010 (audited)  77.9p).  The  net  asset  value  is  stated before 
deducting  the final dividend of 3.5p per share in respect of the year ended 31 
January  2010, which was approved by shareholders  at the annual general meeting 
on 13 May 2010 and will be paid to eligible shareholders on 4 June 2010. 
 
The  number of ordinary shares in issue at 30 April 2010 was 56,703,761.  During 
the  three months  ended 30 April  2010 no new  ordinary shares  were issued and 
200,000 shares  were re-purchased by the company  for cancellation at a price of 
62p per share. 
 
For the purposes of calculating the net asset value per share, quoted 
investments are carried at bid price as at 30 April 2010 and unquoted 
investments are carried at fair value as at 30 April 2010 as determined by the 
directors. 
 
During the three months ended 30 April 2010 the following significant investment 
transactions took place (companies unquoted except where otherwise indicated): 
 
New investments: 
 
                                                                          Amount 
Name of company                    Business activity                    invested 
                                                                             GBP000 
 
Lanner Group Limited               Developer of business process             772 
                                   simulation software 
 
Kerridge Commercial Systems        Developer of software for the           1,740 
Limited                            distribution sector 
 
RCC Lifesciences Limited           Acquisition of pharmaceutical and         995 
                                   medical devices businesses 
 
Ingleby (1840) Limited             Investment in manufacturing and           995 
                                   industrial applications 
 
 
 
Realisations: 
 
None. 
 
The directors are not aware of any other events or transactions which have taken 
place between 31 January 2010 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 <http://www.nvm.co.uk/> 
 
 
[HUG#1415775]
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