Holding(s) in Company

9 December 2011

Northern Bear PLC

("Northern Bear" or the "Company")

Holding(s) in Company

The Company was informed, on 8 December 2011, that, between 28 and 30 November 2011, Graham Forrest, a former director of Northern Bear, disposed of 325,000 ordinary shares of 1 penny each in the Company ("Ordinary Shares") (the "Disposal").

Following the Disposal, Mr. Forrest is now interested in 1,558,492 Ordinary Shares, representing approximately 8.5 per cent. of the Company's issued share capital.

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