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Sgr & Frdlndr AIM 3 (VICT)

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Thursday 08 November, 2007

Sgr & Frdlndr AIM 3

Interim Management Statement

Singer & Friedlander AIM 3 VCT PLC
08 November 2007


Singer & Friedlander AIM 3 VCT Plc
Interim Management Statement
For the period 1st August 2007 to 8th November 2007


This is the second Interim Statement from the Board under the new Disclosure and
Transparency rules in the Companies Act 2006.


Material Events plus financial implications

The Board does not consider that there are any material events giving rise to
financial implications that are not covered in the following sections.


Material transactions plus financial implications

Following the significant disposals made during the first half of our financial
year the second half has so far been quieter. We have, however, seen two further
takeovers completed namely those of Revenue Assurance and Red Squared. We have
utilised our cash balances to make some new and follow on investments as
detailed below.  In addition we have purchased 450,456 of our own shares for
cancellation. The cash has also funded the ongoing running costs of the Company
and our first ever Interim Dividend payment made on the 2nd November 2007.


General financial health of company

The company's financial health is sound given the continued significant cash
balance and the current performance of the investments held within the
portfolio.


Change in Net Asset Value

Since our Interim Report for the 6 months to 31st July 2007 announced on the
25th September 2007 the company's NAV has declined from 97.96p to 92.93p as at
the 31st October. This reflects the fall in markets, particularly the AIM, over
that period as well as the adjustment due to the 2 pence per share Interim
Dividend.


Portfolio Movements


Top ten equity holdings
                                                       Percentage of Portfolio
Aero Inventory                                                  6.9%
Tanfield Group                                                  4.4%
Synergy Healthcare                                              3.6%
U4EA                                                            3.4%
Cardpoint                                                       2.7%
Connaught                                                       2.6%
Glisten                                                         2.6%
Clapham House                                                   2.5%
Prezzo                                                          2.5%
Tikit Group                                                     2.3%


Significant additions during the period

AIM Quoted Companies
                              £000's  

Clerkenwell Ventures          500
Optimisa                      403
Aquabella                     441


Significant disposals during the period


AIM Quoted Companies
                              £000's

Revenue Assurance             500
Red Squared                   92


For further information contact:

Andrew Banks on 020 3205 5000




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