Half-yearly report -3-

Longhirst Venues                                  145        230             3.5 
 
Optilan Group                                     250        125             1.9 
 
Spectrum Interactive                              250         63             1.0 
 
Britspace Group                                   372          -               - 
 
                                           ---------- ----------        -------- 
 
                                                2,223      2,181            33.3 
 
                                           ---------- ----------        -------- 
 
 
 
Total fixed asset investments                   7,352      5,958            91.1 
 
                                           ---------- 
 
Net current assets                                           585             8.9 
 
                                                      ----------        -------- 
 
Net assets                                                 6,543           100.0 
 
                                                      ----------        -------- 
 
 
 
The  above summary of  results for the  six months ended  30 April 2011 does not 
constitute  statutory financial statements within  the meaning of Section 434 of 
the  Companies  Act  2006, has  not  been  audited  or reviewed by the company's 
independent  auditors and has not been delivered to the Registrar of Companies. 
The  figures for  the year  ended 31 October  2010 have been  extracted from the 
financial  statements for that year, which  have been delivered to the Registrar 
of  Companies;  the independent  auditors' report on  those financial statements 
under  Sections 495, 406 and 497 of the Companies Act 2006 was unqualified.  The 
half-yearly  financial  statements  have  been  prepared  on  the  basis  of the 
accounting  policies set out in the financial  statements for the year ended 31 
October 2010. 
 
Each of the directors confirms that to the best of his knowledge the half-yearly 
financial  statements have been prepared in accordance with the Statement "Half- 
yearly  financial reports" issued  by the UK  Accounting Standards Board and the 
half-yearly  financial report includes a fair review of the information required 
by  (a)  DTR  4.2.7R of  the  Disclosure  Rules and Transparency Rules, being an 
indication of important events that have occurred during the first six months of 
the  financial  year  and  their  impact  on  the  condensed  set  of  financial 
statements,  and a description of the  principal risks and uncertainties for the 
remaining six months of the year, and (b) DTR 4.2.8R of the Disclosure Rules and 
Transparency  Rules, being related  party transactions that  have taken place in 
the  first six  months of  the current  financial year  and that have materially 
affected the financial position or performance of the entity during that period, 
and  any changes in the related party  transactions described in the last annual 
report that could do so. 
 
The  directors of the  company at the  date of this  announcement were Mr  C J P 
Dawnay  (Chairman), Mr S D Bullock, Mr A M  Conn, Mr I A Macdonald  and Mr J W J 
Moxon. 
 
The calculation of the revenue and capital return per ordinary share is based on 
the  return on ordinary activities  after tax for the  six months ended 30 April 
2011 and  on  22,388,164 (2010  22,147,798) ordinary  shares, being the weighted 
average number of shares in issue during the period. 
 
The  calculation of the net asset value per  share is based on the net assets at 
30 April  2011 divided  by  the  22,596,942 (2010 22,321,112) ordinary shares in 
issue at that date. 
 
A  copy of the  half-yearly financial report  for the six  months ended 30 April 
2011 is  expected  to  be  posted  to  shareholders  by 17 June 2011 and will be 
available   to   the   public  at  the  registered  office  of  the  company  at 
Northumberland  House, Princess Square,  Newcastle upon Tyne  NE1 8ER and on the 
NVM Private Equity Limited website, www.nvm.co.uk. 
 
Neither  the contents of the NVM Private Equity Limited website nor the contents 
of  any website  accessible from  hyperlinks on  the NVM  Private Equity Limited 
website  (or any  other website)  is incorporated  into, or  forms part of, this 
announcement. 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Northern AIM VCT PLC via Thomson Reuters ONE 
 
[HUG#1521180]