Offer Update

1 February 2012

Baronsmead VCT 3 plc

Offer Update

On 12 January 2012, Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3
plc and Baronsmead VCT 4 plc launched separate offers for subscription for new
ordinary shares of 10p each to raise up to £4.135 million per company, before
expenses, and £16.54 million in aggregate ("the Offers" and each an "Offer").

The directors of Baronsmead VCT 3 plc ("the Company") have been advised that
the Offers for shares in Baronsmead VCT plc and Baronsmead VCT 2 plc are fully
subscribed. The Offers remain open in Baronsmead VCT 3 plc and Baronsmead VCT 4
plc.

The directors are pleased to announce that as at 1 February 2012 the Company
has received in respect of its own Offer subscriptions totalling approximately
£3.5 million, providing a capacity to receive further subscriptions of
approximately £0.6 million.

As a result of the Offer for shares in Baronsmead VCT plc and Baronsmead VCT 2
plc being fully subscribed, subscription forms which are now received
requesting a subscription for shares in those companies will be re-allocated or
returned in accordance with investors' indications on their subscription forms
and in accordance with the terms and conditions contained within the Offers
document.

For further information, please contact:

Michael Probin - Investor Relations

ISIS EP LLP

Telephone: [phone]