RNS Number:5194N
Northern Venture Trust PLC
14 July 2003


NORTHERN VENTURE TRUST PLC
14 JULY 2003
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2003


Northern Venture Trust PLC announces that the unaudited net asset value per
share at 30 June 2003 was 80.6p.

Net assets comprised the following:
                                                                                                    % of
                                                                                   #000       net assets
Venture capital investments
  Listed                                                                          3,758             11.6
  Unlisted                                                                       22,725             70.5
                                                                                -------           ------
Total venture capital investments                                                26,483             82.1
Other listed investments                                                          5,608             17.4
                                                                                -------           ------
Total fixed asset investments                                                    32,091             99.5
Net current assets                                                                  153              0.5
                                                                                -------           ------
Net assets                                                                       32,244            100.0
                                                                                -------           ------

The number of ordinary shares in issue at 30 June 2003 was 40,011,108.


The ten largest investments by valuation at 30 June 2003 were as follows:

                                                                                                    % of
                                                                                   #000       net assets
CGI International                                                                 1,844              5.7
John Fredericks Plastics                                                          1,799              5.6
TFB Group                                                                         1,774              5.5
T J Brent                                                                         1,768              5.5
Alizyme*                                                                          1,249              3.9
SML Technologies                                                                    847              2.6
Remsdaq                                                                             840              2.6
DMN Installations                                                                   821              2.5
Alaric Systems                                                                      761              2.4
Tolwood                                                                             750              2.3
                                                                                -------           ------
Top ten investments                                                              12,453             38.6
Other investments                                                                19,638             60.9
                                                                                -------           ------
Total fixed asset investments                                                    32,091             99.5
                                                                                -------           ------

* Listed on London Stock Exchange


Listed investments are carried at mid-market value as at 30 June 2003.

Unlisted investments are carried at the directors' valuation at 31 March 2003
with subsequent movements at cost.  The next revaluation of the unlisted
portfolio will be carried out as at 30 September 2003 and will be reflected in
the preliminary results for the year ending 30 September 2003, which are
expected to be published in November 2003.


Enquiries:
Alastair Conn/Christopher Mellor, Northern Venture Trust PLC - 0191 244 6000

Website:  www.nvm.co.uk


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
NAVGUURUMUPWGWC