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Sgr & Frdlndr AIM 3 (VICT)

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Thursday 14 June, 2007

Sgr & Frdlndr AIM 3

Interim Management Statement

Singer & Friedlander AIM 3 VCT PLC
14 June 2007

Singer & Friedlander AIM 3 VCT Plc
Interim Management Statement
For the period 1st February 2007 to 14 June 2007

This is the first 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

The company has benefited from several company takeovers during the period
including Kuju, Blooms of Bressingham and PM Group with the proceeds increasing
our liquidity. In addition, partial disposals of other investments as detailed
below have been made, this includes significant profits being realised on the
investments in Prezzo and Tanfield. The proceeds have been used to fund the
undermentioned purchases as well as proposed dividend payments and the running
costs of the company.

We have also purchased 1,000,000 of the Company's own shares for cancellation.
At present the company also holds significant cash balances.

Change in Net Asset Value

Since the year end the company's NAV has increased from 93.44p to 100.10p as at
7 June 2007, a rise of 7.1%. The company's NAV is calculated weekly and reported
in the Financial Times.

Portfolio Movements

Top ten equity holdings
                                                      Percentage of Portfolio
Oasis Healthcare                                                4.9%
Tanfield Group                                                  4.8%
Aero Inventory                                                  4.0%
Synergy Healthcare                                              3.3%
U4EA                                                            3.2%
Clapham House                                                   2.7%
Prezzo                                                          2.6%
Cardpoint                                                       2.3%
Glisten                                                         2.3%

Significant additions during the period

UK Government Loans
1,500,000                    UK Treasury 4.75% 07/06/2010
2,000,000                    UK Treasury 4.25% 07/03/2011

AIM Quoted Companies
775,000                      Expansys
14,057,678                   Coolabi
3,606,667                    Idox

Other Qualifying Investments
250,000                      U4EA Convertible Unsecured Loan Stock

Significant disposals during the period

UK Government Loans
3,550,000                                            UK Treasury 4.5% 07/03/07

AIM Quoted Companies
1,780,302                                            Kuju
1,728,805                                            Blooms of Bressingham
700,000                                              Prezzo
524,232                                              PM Group
950,000                                              Tanfield Group

For further information contact:

Andrew Banks on 020 3205 5000
Singer & Friedlander Investment Management Limited

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

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