Joint Offer Update

Baronsmead VCT 3 plc and Baronsmead VCT 4 plc (`the Companies') - Joint Offer 
                                    Update                                     

  Offer for subscription of New Ordinary Shares to raise up to £16,000,000 in  
                         aggregate ('the Joint Offer')                         

As at 9 March 2010, the Companies had received applications in respect of
subscriptions totalling £12,448,000 in aggregate, representing approximately
three quarters of the total amount being raised through the Joint Offer.

Provided the Joint Offer is not fully subscribed beforehand the subscription
lists with respect to the second allotment will close at 5.00 pm on Thursday 25
March 2010.

Full details of the Joint Offer are contained in the summary, securities note,
and registration document which together constitute a prospectus issued by the
Companies ("Prospectus") and in the Supplementary Prospectus, all of which are
available on the Companies' websites as follows:

www.baronsmeadvct3.co.uk

and

www.baronsmeadvct4.co.uk

The Directors of the Companies reserve the right to vary the allotment
timetable and close the Joint Offer before 1 April 2010 in accordance with the
terms and conditions set out in the Prospectus.

 For further information please contact: 

Michael Probin  ISIS EP LLP       020 7506 5796 

Barry Lawson      Secretary of the Companies           020 7506 5652

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