Offer For Subscription

Baronsmead VCT 3 PLC
2 March 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  5,599,350 ordinary shares which have been allotted and
issued on 2 March 2001.  This brings the total number of ordinary shares
issued under the 2000/2001 Offer for Subscription to 29,039,947 ordinary
shares.  Trading in these new shares is expected to commence on 5 March 2001
at 8.00 am.

In addition, a total of 3,461,099 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
Keith Hannay, Friends Ivory & Sime plc:              0131 465 1000