Issue of Equity

Baronsmead VCT 3 PLC
23 February 2001



2000/2001 Offer for Subscription 

The Board of Baronsmead VCT 3 plc is pleased to announce that further
applications have been received in respect of the 2000/2001 Offer for
Subscription totalling  5,459,339 ordinary shares which have been allotted and
issued on 23 February 2001.  This brings the total number of ordinary shares
issued under the 2000/2001 Offer for Subscription to 23,440,597 ordinary
shares.  Trading in these new shares is expected to commence on 26 February
2001 at 8.00 am.

In addition, a total of 2,682,692 ordinary shares have been received for the
2001/2002 Offer for Subscription.


For further information please contact:

David Thorp, Friends Ivory & Sime plc:              0207 506 1100
Rhonda Nicoll, Friends Ivory & Sime plc:            0131 465 1074