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Foresight 3 VCT PLC (FTD)

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Monday 03 March, 2008

Foresight 3 VCT PLC

Proposed Merger

Foresight 3 VCT PLC
03 March 2008


Foresight 3 VCT plc ('Foresight 3' or the 'Company')


Possible Merger pursuant to a s.110 scheme of reconstruction under the
Insolvency Act 1986

Noble VCT plc  ('Noble') has today announced that it has appointed  Foresight
Group LLP ('Foresight Group'), with effect from 1 April 2008, as the investment
adviser of Noble VCT plc ('Noble'), subject to shareholder ratification. The
discussions between Noble and Foresight Group have also encompassed the
possibility of merging Noble with Foresight 3, which the board of Foresight 3
supports.

The principal terms of such a merger have been agreed by the boards of Foresight
3 and Noble, subject to approval by shareholders of the Company and Noble. Based
on the current sizes of the two portfolios, such a merger would result in a
significantly larger entity, increasing the size of the Foresight 3 portfolio by
just under 100%.  The intention is that any merger would be completed  pursuant
to a s.110 scheme of reconstruction under the Insolvency Act 1986 by
transferring the assets of Noble to Foresight 3 in consideration for Foresight 3
'c' shares being issued to Noble shareholders. A merger on this basis will be
outside the provisions of The City Code on Takeovers and Mergers.

Formal proposals will be forwarded to shareholders of both the Company and Noble
VCT in the coming months.


Enquiries:

Bernard Fairman: 01732 471 800

03.03.08


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