Merger Update & Board Changes for Foresight 3 / Enterprise VCTs..

This announcement is made by Foresight 3 VCT plc (“the Company”) in connection with the scheme for the merger of Enterprise VCT plc (“Enterprise”) with the Company (“the Scheme”), details of which were contained in the Company’s prospectus (“the Prospectus”) and circular to shareholders (“the Circular”) both dated 8 August 2008. 

The board of directors of the Company (“the Board”) are pleased to advise that the resolution proposed at the extraordinary general meeting of Enterprise held today was duly passed to be able to implement the Scheme and effect the merger.  By way of implementation of the Scheme, the assets and liabilities of Enterprise have been transferred to the Company, in consideration for the issue of shares in the Company, as set out below.

The total number of C shares of 1 pence each in the capital of the Company (“Shares”) issued to Enterprise shareholders in connection with the Scheme was 30,437,476, this being equal to the number of ordinary share of 10 pence each in the capital of Enterprise in issue before the transfer, at a deemed issue price of 62.3p per share. 

Application will shortly be made for all the Shares issued to be admitted to the Official List and to trading on the main market of the London Stock Exchange.  It is expected that admission will become effective and that trading will commence on 12 September 2008.

The Board further announces that John Gregory (the chairman of Enterprise) and Tom Maxwell (a director of Enterprise) have also today joined the Board as non‑executive directors together bringing a broad experience of banking, corporate finance and fund management. 

For further enquiries please contact:

Foresight Group LLP

Gary Fraser

Telephone: 01732 471 809