Issue of Equity

Baronsmead VCT 3 PLC
11 April 2005

TO: LONDON STOCK EXCHANGE, COMPANY ANNOUNCEMENTS




DATE:             11 April 2005



TITLE:             Issue of Equity









BARONSMEAD VCT 3 PLC



OFFER FOR SUBSCRIPTION



The Board of Baronsmead VCT 3 plc is pleased to announce that pursuant to an
Offer for Subscription, a further 459,994 Ordinary Shares at 10 pence per share
have been allotted and issued today at an offer price of 112 pence per Ordinary
Share.



Trading in these additional shares is expected to commence on 12 April 2005 at
8.00am.



The total number of shares in issue is 34,472,092.

The total number of listed shares is 34,582,092.



This Offer is now closed.



For further information please contact:



David Thorp, ISIS Equity Partners plc:     0207 560 1100

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


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