Intention to Launch an Offer for Subscription

Baronsmead VCT 3 plc

Announcement of Intention to Launch an Offer for Subscription

The Directors of Baronsmead VCT 3 plc ("the Company") are pleased to announce
that the Company intends to launch an offer for subscription ("the Offer"). The
current intention is to raise up to £10 million (before issue costs).

The funds raised by the Company pursuant to its Offer will be added to the
liquid resources available for investment so as to put the Company into a
position to take advantage of attractive investment opportunities over the next
two to three years.

The Offer will be open to new investors as well as existing shareholders. Full
details of the Offer will be contained in a prospectus that is expected to be
published early in 2014.

For further information, please contact:

Michael Probin - VCT Investor Relations Director

ISIS EP LLP

Telephone: [phone]