Offer Update

27 January 2012

Baronsmead VCT 3 plc

Offer Update

On 12 January 2012, Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3
plc and Baronsmead VCT 4 plc launched separate offers for subscription for new
ordinary shares of 10p each to raise up to £4.135 million per company, before
expenses, and £16.54 million in aggregate ("the Offers" and each an "Offer").

The directors of Baronsmead VCT 3 plc ("the Company") have been advised that
the Offer for shares in Baronsmead VCT plc is now fully subscribed. The Offers
remain open in Baronsmead VCT 3 plc, Baronsmead VCT 2 plc and Baronsmead VCT 4
plc.

The directors are pleased to announce that as at 26 January 2012 the Company
has received in respect of its own Offer subscriptions totalling approximately
£2.5 million.

As a result of the Offer for shares in Baronsmead VCT plc being fully
subscribed, subscription forms which are now received requesting a subscription
for shares in Baronsmead VCT plc will be re-allocated or returned in accordance
with investors' indications on their subscription forms and in accordance with
the terms and conditions contained within the Offers document.

For further information, please contact:

Michael Probin - Investor Relations

ISIS EP LLP

Telephone: [phone]