Offer for Subscription

Baronsmead VCT 3 PLC
2 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 2,165,086 ordinary shares which have been allotted and
issued on 2 February 2001.  This brings the total number of ordinary shares
issued under the 2000/2001 Offer for Subscription to 9,565,344 ordinary
shares.  Trading in these new shares is expected to commence on 5 February
2001 at 8.00 am.

In addition, a total of 928,682 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