Change of Adviser

Baronsmead VCT 3 PLC
01 July 2005



To:                 RNS
Date:               28 June 2005
From:               Baronsmead VCT 3 plc


CHANGE OF AUDITORS

The Directors of Baronsmead VCT 3 plc are pleased to announce the appointment of
KPMG Audit Plc as auditors to the Company, with effect from 28 June 2005.

For further information please contact:

Rhonda Nicoll, F&C Asset Management plc:                    0131 465 1000



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