OXFORD TECHNOLOGY 3 VCT PLC ("OT3" or the "Company")

Change of Investment Manager and Appointment of New Directors

The Chairman's statement issued on 30 June 2015, included within the full year results for the year to 28 February 2015 (the "Accounts Announcement"), made reference to the intention for the Company to become self-managed and to appoint new directors to its Board.

OT3 announces that it has appointed OT3 Managers Ltd, a wholly owned subsidiary of OT3, as its Investment Manager. The Company is also pleased to announce that its subsidiary has subcontracted its services to Oxford Technology Management Ltd (the Company's previous Investment Manager) on substantially the same terms as outlined in the Accounts Announcement.

The Company also confirms the appointment of three new non-executive Directors.   Mr David Livesley, Mr Richard Roth and Mr Alex Starling will join the Board of OT3 with immediate effect.  Shareholders will be asked to confirm their appointments at the forthcoming AGM on 26 August 2015.

These appointments take place at the same time as similar appointments being made by Oxford Technology VCT plc ("OT1"), Oxford Technology 2 VCT plc ("OT2") and Oxford Technology 4 VCT plc ("OT4").   OT1, OT2, OT3 and OT4 will now have a common Board of 4 Directors (Alex Starling, Richard Roth, Robin Goodfellow and David Livesley).

Robin Goodfellow will continue to chair the Company.  The Audit Committee will comprise Richard Roth (chair) and Robin Goodfellow.

Mr David Livesley will remain the Chairman of OT4. He worked in the life science and pharmaceutical industries before joining Cambridge Consultants Ltd in 1987, where he was involved in product and process development across a range of industrial sectors. Between 1999 and 2012 he worked for the YFM Group, a Venture Capital Fund Manager where he specialised in investments in early stage technology companies.  He currently works as an independent Non-Executive director for a number of early stage technology businesses.

Mr Richard Roth is currently a Director of OT1 and is becoming Chairman of OT2.  He is a Chartered Management Accountant.  Having worked for two blue chip companies, he joined Easyjet, where he was one of the key executives that transformed the business from private company to a household name.  He has subsequently worked as CFO for an airline and, most recently, as director of performance management and turnaround for Monarch Group.  Richard has also had a number of consulting assignments, in particular helping companies determine their strategy and implementing business improvements.  He has been deeply involved in growing and/or turning businesses around.  Richard is a well informed VCT investor, having followed the industry closely since inception and has extensive understanding of the sector having observed good and bad practices over the last 15 years.  He has invested in a number of small (mainly unquoted) companies and has also advised several potential start up businesses - mainly travel related. He is a personal shareholder in Glide Pharmaceutical Technologies Limited.

Mr Alex Starling will remain Chairman of OT1.  He runs his own corporate advisory firm, ACS Technical Limited.  He has helped a number of technology companies raise venture capital and, conversely, shareholders realise their investments in such technology companies.  Alex has an interest (as founder and shareholder) in several young growing companies  Alex is a chartered engineer and a member of the Institute of Mechanical Engineers, has a PhD in Engineering from Cambridge University and holds the ICAEW Diploma in Corporate Finance. He is a personal shareholder in Scancell.

Mr. Roth owns 38,149 shares in the Company.  None of the other new Directors owns shares in the Company.

Richard Vessey will continue as a Director of the Company until the AGM when he does not plan to stand for re-election.

The new Directors are or have been directors of the following publicly quoted companies within the last five years.

                                                Current                                                    Former directorships

David Livesley                        OT1, OT2 and OT4                                None

Richard Roth                           OT1, OT2 and OT4                                None

Alex Starling                           OT1, OT3 and OT4                                None

No other information is required to be disclosed under Listing Rule 9.6.3.

Further Enquiries

Lucius Cary on  01865 784466