EGM Statement

Murray VCT 3 PLC
06 September 2005



6 September 2005

Murray VCT 3 PLC

Joint announcement relating to Murray VCT PLC, Murray VCT 2 PLC and Murray VCT 3
PLC (the 'Companies')

At Extraordinary General Meetings for all three Companies and Annual General
Meetings for Murray VCT 2 PLC and Murray VCT 3 PLC, resolutions put forward by
Mr Charles Clark to remove all the existing directors of the Companies and to
replace them with his proposed directors were defeated by a substantial
majority. Announcements have been made by each Company giving the results of
these meetings.

The Boards deeply regret the imposition of Mr Clark and his associates on the
business of the Companies and the distraction his campaign has caused. The
Boards appreciate the shareholder response to Mr Clark's resolutions shown in
all three Companies with approximate voting turnouts of 55 per cent for Murray
VCT and 48 per cent. for Murray VCT 2 and Murray VCT 3 (this compares to average
voting turnout at previous AGMs of significantly less than 10 per cent for each
of the Companies). The votes against Mr Clark's resolutions were over 70 per
cent of the votes cast in each case. The Boards hope that this is an end to Mr
Clark's campaign.

The majority of the Board members will stand down at the time of the proposed
merger, which is expected to take place by the end of the year. The Boards
remain focussed on protecting and enhancing shareholder value which they firmly
believe will be achieved through the expertise of Close Venture Management and
the proposed merger.

Enquiries:

Derek Douglas                                     07730 415 092
Beattie Communications




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