Director/PDMR Shareholding

Annex DTR3

Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons

All relevant boxes should be completed in block capital letters.

1.   Name of the issuer             2.   State whether the notification relates
                                         to (i) a                              
                                                                               
                                         transaction notified in accordance    
                                         with DTR 3.1.2 R,                     
                                                                               
                                         (ii) a disclosure made in accordance  
                                                                               
                                         LR 9.8.6R(1) or                       
                                                                               
                                         (iii) a disclosure made in accordance 
                                         with section 793 of the Companies Act 
                                         (2006).                               
                                                                               
     BARONSMEAD VCT 3 PLC                RELATED TO (i)                        
                                                                               
3.   Name of person discharging     4.   State whether notification relates to 
     managerial                          a person                              
                                                                               
     responsibilities/director           connected with a person discharging   
                                         managerial responsibilities/director  
                                         named in 3 and identify the connected 
                                         person                                
                                                                               
     MARK CANNON BROOKES                 No                                    
                                                                               
5.   Indicate whether the           6.   Description of shares (including      
     notification is in respect of       class), debentures or derivatives or  
     a holding of the person             financial instruments relating to     
     referred to in 3 or 4 above or      shares                                
     in respect of a non-beneficial                                            
                                                                               
     interest 1                                                                
                                                                               
     AS IN 3                             ORDINARY SHARES OF 10P                
                                                                               
7.   Name of registered             8.   State the nature of the transaction   
     shareholders(s) and, if more                                              
     than one, the number of shares                                            
     held by each of them                                                      
                                                                               
     MARK CANNON BROOKES                 DIVIDEND REINVESTMENT PLAN            
                                                                               
9.   Number of shares, debentures   10.  Percentage of issued class acquired   
     or financial                        (treasury shares of that class should 
                                         not be taken into account when        
     instruments relating to shares      calculating percentage)               
     acquired                                                                  
                                                                               
     8,899                               0.0164%                               
                                                                               
11.  Number of shares, debentures   12.  Percentage of issued class disposed   
     or financial                        (treasury shares of that class should 
                                         not be taken into account when        
     instruments relating to shares      calculating percentage)               
     disposed                                                                  
                                                                               
13.  Price per share or value of    14.  Date and place of transaction         
     transaction                                                               
                                                                               
     £0.86                               07/01/2010 - LONDON                   
                                                                               
15.  Total holding following        16.  Date issuer informed of transaction   
     notification and total                                                    
     percentage holding following                                              
     notification (any treasury                                                
     shares should not be taken                                                
     into account when calculating                                             
     percentage)                                                               
                                                                               
     180,655 ( 0.333%)                   07/01/2010                            

If a person discharging managerial responsibilities has been granted options by
the issuer

complete the following boxes

17.  Date of grant                      18.  Period during which or date on    
                                             which exercisable                 
                                                                               
19.  Total amount paid (if any) for     20.  Description of shares or          
     grant of the option                     debentures involved (class and    
                                             number)                           
                                                                               
21.  Exercise price (if fixed at time   22.  Total number of shares or         
     of grant) or                            debentures over which options held
                                             following notification            
     indication that price is to be                                            
     fixed at the time of exercise                                             
                                                                               
23.  Any additional information         24.  Name of contact and telephone     
                                             number for queries                
                                                                               
                                             Barry Lawson 020 7506 5652        

Name of authorised official of issuer responsible for making notification      
                                                                               
Barry Lawson, Company Secretary                                                
                                                                               
Date of notification                                                           
                                                                               
08/01/2010                                                                     

Notes: This form is intended for use by an issuer to make a RIS notification
required by DR 3.3.

(1)   An issuer making a notification in respect of a transaction relating to  
      the shares or debentures of the issuer should complete boxes 1 to 16, 23 
      and 24.                                                                  
                                                                               
(2)   An issuer making a notification in respect of a derivative relating the  
      shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23  
      and 24.                                                                  
                                                                               
(3)   An issuer making a notification in respect of options granted to a       
      director/person discharging managerial responsibilities should complete  
      boxes 1 to 3 and 17 to 24.                                               
                                                                               
(4)   An issuer making a notification in respect of a financial instrument     
      relating to the shares of the issuer (other than a debenture) should     
      complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.