Conversion of Securities

Baronsmead VCT 3 PLC
31 December 2007

To:         RNS

Date:       31 December 2007

Company:    Baronsmead VCT 3 plc

Subject:    Conversion of C Shares into Ordinary Shares




The Board of Baronsmead VCT 3 plc announces the conversion of the C Shares of
50p each into Ordinary Shares of 10p each.  The expected Calculation Date, per
the original offer for subscription, was to be no later than 31 December 2007.

The C Shares were issued by way of an offer for subscription launched in
September 2005 and the funds raised have been managed as a separate pool of
assets from those attributed to the Ordinary Shares. The C Shares will convert
into Ordinary Shares on a net asset value basis and will then rank pari passu
with the existing Ordinary Shares.

The conversion, expected to take place no later than 29 January 2008, is in
accordance with the Articles of Association of the Company, by reference to a
conversion formula based on the relative net assets of the Company on 31
December 2007, being the Calculation Date.  Application will be made for the
Ordinary Shares to be admitted to the Official List and to trading on the London
Stock Exchange's market for listed securities.


For further information contact:


David Thorp, ISIS EP LLP:                            0207 506 5631
Rhonda Nicoll, F&C Asset Management plc:             0131 718 1074




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