Offer Update

7 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") are pleased to announce
that the Company's Offer is fully subscribed. The Offer is expected to close
once the allotment of shares in the Company has taken place pursuant to the
Offer. This is expected to take place on 20 February 2012 following the
announcement of the Company's net asset value as of 31 January 2012, which is
due to be announced on 17 February 2012.

The Offers in respect of Baronsmead VCT plc, Baronsmead VCT 2 plc and
Baronsmead VCT 4 plc are also fully subscribed.

For further information, please contact:

Michael Probin - Investor Relations

ISIS EP LLP

Telephone: [phone]