Dividend Reinvestment Scheme

Baronsmead VCT 3 PLC
5 April 2002

To:          Company Announcements

Date:          5 April 2002

From:          Baronsmead VCT 3plc



Dividend Reinvestment Scheme

The Company announces that on 5 April 2002 it issued 142,546 new ordinary shares
of 10p each under the Dividend Reinvestment Scheme at a price of 93.37p.

The new shares increase the issued share capital to 33,520,911 ordinary shares.
Trading in these additional shares is expected to commence on 8 April 2002 at
8.00 am.

For further information please contact:


                       David Thorp, ISIS Capital plc :  0207 560 1100

                       Rhonda Nicoll, Friends Ivory & Sime plc : 0131 465 1000


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