Holdings in Company

25 January 2012

Northern Bear PLC

("Northern Bear" or the "Company")

Holdings in Company

The Company was informed yesterday that, on 20 January 2012, Mr. Jon Pither acquired 200,000 ordinary shares in the Company ("Ordinary Shares"), representing 1.12 per cent. of the Company's currently issued share capital trading on AIM. Mr. Pither is now interested in 3,034,414 Ordinary Shares representing 17.04 per cent. of the Company's issued share capital trading on AIM.

Northern Bear confirms that it has 17,803,726 shares in issue and admitted to trading on AIM. The figure of 17,803,726 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Northern Bear under the FSA's Disclosure and Transparency Rules.

For further information contact:

Northern Bear Plc

Steve Roberts - Chief Financial Officer +44 (0) 77 1047 3125

Strand Hanson Ltd

James Harris / James Spinney +44 (0) 20 7409 3494

Seymour Pierce Ltd

David Banks / Paul Jewell / Katie Ratner +44 (0) 20 7107 8000