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Sgr & Frdlndr AIM 3 (VICT)

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Tuesday 14 September, 2004

Sgr & Frdlndr AIM 3

Issue of Equity

Singer & Friedlander AIM 3 VCT PLC
14 September 2004


Singer & Friedlander AIM 3 VCT plc


14 September 2004


Offer for Subscription of up to 30,000,000 'C' Shares


Singer & Friedlander AIM 3 VCT plc ('the Company') is pleased to announce that
it has published a prospectus in connection with an offer for subscription of up
to 30,000,000 'C' Shares of 5 pence each in the Company at 100p per share to
raise up to a maximum of £30 million before expenses (the 'Offer for
Subscription').  A circular to shareholders seeking, inter alia, authority to
increase the authorised share capital of the Company at an extraordinary general
meeting to be held on 15 October 2004 has been sent to the Company's
shareholders.


The expected timetable and the offer statistics for the Offer for Subscription
are set out below.


                               EXPECTED TIMETABLE


Offers for Subscription Open                                   13 September 2004

Deadline for receipt of existing shareholders' 
applications if to receive preferential 
allocation                                         10.00 a.m. on 29 October 2004

Deadline for receipt of applications 
for the 2004/2005 Offer                              10.00 a.m. on 31 March 2005

Dealings expected to commence                                       1 April 2005        

Deadline for receipt of applications for the 
2005/2006 Offer                                      10.00 a.m. on 29 April 2005

Dealings expected to commence                                         2 May 2005


In relation to the 2004/2005 Offer, the Directors reserve the right to make an
early allotment of 'C' Shares subject to the aggregate minimum subscription of
£5 million under the Offers having been achieved, on any day, at the Directors'
absolute discretion from 18 October 2004 until 30 March 2005.  If an early
allotment of 'C' Shares is made, the Company will make a Regulatory Information
Service announcement.  The Offers will lapse if the minimum subscription is not
achieved by 31 March 2005.


Each deadline for receipt of applications is subject to the relevant Offer not
being fully subscribed by an earlier date.  Dealings are expected to commence,
and shares be issued, on the business day following the first allotment.  Share
certificates are expected to be despatched and CREST accounts credited, within
15 business days after the relevant date on which dealings commence.


                                OFFER STATISTICS


Offer price per 'C' Share                                                   100p

Initial Net Asset Value per 'C' Share                                        95p

Maximum number of 'C' Shares in issue following the Offers            30 million

Minimum number of 'C' Shares in issue following the Offers             5 million

Offer costs as a percentage of the gross proceeds of the Offers               5%

Maximum net proceeds of the gross proceeds of the Offers           £28.5 million

Minimum net proceeds of the Offers                                 £4.75 million

Minimum individual investment                                            £5,000*

*and above that minimum, in multiples of £1,000

Copies of the circular and the prospectus have been submitted to the Financial
Services Authority and will shortly be available for inspection at the FSA's
Document Viewing Facility, which is situated at :


The Financial Services Authority
25 The North Colonnade
Canary Wharf
London
EH14 5HS

Further information:

Andrew Banks
Singers & Friedlander AIM 3 VCT plc                                020 7523 5540

Russell Cook
Charles Stanley & Co Limited                                       020 7739 8200

                      This information is provided by RNS
            The company news service from the London Stock Exchange