Joint Statement on Circulars

Murray VCT 3 PLC
10 August 2005

                                                                10 August 2005
                                
                                MURRAY VCT 3 PLC
               Registered Office: 4 Crown Place, London, EC2A 4BT
                           Company Number - 03495287
                                                                  

 Murray VCT PLC, Murray VCT 2 PLC and Murray VCT 3 PLC (the 'Companies'): 
            Joint statement on circulars convening company meetings

Circulars to convene extraordinary and annual general meetings for Murray VCT 2
PLC and Murray VCT 3 PLC and a circular to convene an extraordinary general
meeting for Murray VCT PLC have been despatched.

These circulars contain important information on the future of the Companies as
well as the response to Mr Charles Clark, a shareholder activist who has,
through a campaign supported by Aberdeen Asset Management, the parent company of
the former manager of the Companies, requisitioned meetings to remove the boards
of the three Companies. The meetings have been convened as follows:

VCT 2 - EGM 2.00 p.m. and, as soon as practical thereafter, AGM on 5th September
2005
VCT 3 - EGM 9.30 a.m. and, as soon as practical thereafter, AGM on 6th September
2005
VCT 1 - EGM 2.00 p.m. on 6th September 2005

Subject to the results of the EGMs and AGMs, the boards intend to proceed with
proposals to merge the Companies. Included in the merger proposals, which would
be conducted on a formula asset value basis, will be a proposed tender offer for
up to 10% of the issued share capital of the Companies at a value relatively
close to the prevailing net asset values of the Companies.

Murray VCT 2 PLC has proposed a final dividend of 1 p per share, payable on 9
September 2005 to shareholders on the register as at 19 August 2005.
Murray VCT 3 PLC has also proposed a final dividend of 1 p per share, payable on
9 September 2005 to shareholders on the register as at 19 August 2005.

As a result of the refusal of Mr Clark and his proposed directors to engage with
the Companies and their advisers, Close Venture Management Limited ('Close'),
the new manager appointed by the Companies in April 2005, has advised the boards
of the Companies that it intends to serve notice under its management contract,
at the earliest opportunity, if Mr Clark's proposed directors are appointed and
the current board members are removed.

The boards of the Companies remain firmly of the view that the retention of
Close as manager and the proposed merger of the Companies are in the best
interests of shareholders and are all recommending unanimously that shareholders
vote against Mr Clark's resolutions.

Copies of the circulars have been submitted to the FSA and will shortly be
available for inspection at the FSA's Document Viewing Facility which is
situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel: [phone]

Andrew Cubie
Murray VCTs

Patrick Reeve
Close Venture Management

Todd Nugent
Noble Grossart Limited

Press enquiries:
Derek Douglas/David Gaffney                           01324 602 550
Beattie Communications Group

Shareholder enquiries:
COMPANY HELPLINE                                      0800 073 1500





                      This information is provided by RNS
            The company news service from the London Stock Exchange