Offer for Subscription

Baronsmead VCT 3 PLC
21 September 2005

To:                 Company Announcements

Date:               21 September 2005

Company:            Baronsmead VCT 3 plc

Subject:            Offer for Subscription


Baronsmead VCT 3 plc ('the Company') announces that is has published a
Prospectus (comprising a Securities Note, Registration Document and Summary) to
raise up to £24m (the 'Offer').

The Offer opened on 19 September 2005 and is expected to close on 31 January
2006 (or an earlier date on which it is fully subscribed).  The Offer is for up
to 24,000,000 C Shares.  The C Shares will be issued at a price of £1 and for
applications received up to 12 noon on 27 October 2005 will receive 0.5 per cent
additional C Shares.

To obtain a copy of the Securities Note private investors and Financial Advisers
should call 08457 99 22 99.  Downloadable versions of the Securities Note are
also available from www.baronsmeadvct3.co.uk.

A copy of the Prospectus (constituted by a Securities Note, Registration
Document and Summary) has been submitted to the UKLA, and will shortly be
available for inspection at the UKLA's Document Viewing Facility, which is
situated at:

Financial Services Authority
The North Colonnade
Canary Wharf
LONDON
E14 5NS

For further information please contact:

David Thorp,    ISIS EP LLP:                                    0207 506 1609
Rhonda Nicoll, F&C Asset Management plc:                        0131 465 1074



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