Circ re. cancellation of share premium

Maven Income and Growth VCT 3 PLC (the "Company")

Posting of Circular regarding proposed cancellation of the share premium account and capital redemption reserve.

In a Circular being sent to Shareholders today, the Board of the Company proposes that the share premium account and the capital redemption reserve of the Company be cancelled (the "Cancellation"). The Cancellation requires Shareholder approval and the confirmation of the Court after a court hearing.

The Circular contains notice convening a General Meeting for 10.00 a.m. on 1 September 2010 at the offices of Maven Capital Partners UK LLP, the Company's investment manager, at 9-13 St Andrew Street, London EC4A 3AF for the purpose of approving the Cancellation.

The Circular will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority

25 North Colonnade

Canary Wharf

London

E14 5HS

The Circular will also be available to view on the Company's website at www.mavencp.com/migvct3.

Maven Capital Partners UK LLP

Secretary

6 August 2010