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 11 February 2010, the Companies had received applications in respect of
subscriptions totalling approximately £4,200,000 in aggregate, representing
approximately one quarter of the total amount being raised through the Joint
Offer.

The Joint Offer is due to close at the close of business on Thursday 1 April
2010, unless it is fully subscribed by an earlier date or extended beyond then
by the Directors. There is an early investment incentive whereby each investor
will receive an additional 1% of his or her application for the New Ordinary
Shares in the Companies if his or her subscription form is received by 12 noon
on 26 February 2010 (or, if earlier, by the close of the Joint Offer).

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"), which is 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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