Result of Court Hearing

RNS Number:7301Y
Singer & Friedlander AIM 3 VCT PLC
21 February 2006


21 February 2006

                SINGER & FRIEDLANDER AIM 3 VCT PLC ("S&F 3 VCT")

                            RESULT OF COURT HEARING

The Board of S&F 3 VCT is pleased to announce that at a hearing held earlier
today, the Court sanctioned the Scheme by which the recommended Merger of S&F 3
VCT with S&F VCT and S&F 2 VCT is to be effected and also confirmed the
reductions of capital of S&F VCT and S&F 2 VCT associated with the Scheme.

All conditions in relation to the Merger have now been satisfied or waived, save
for (i) the delivery to the Registrar of Companies of the Court Orders
sanctioning the Scheme and confirming the reductions of capital of S&F VCT and S
&F 2 VCT; (ii) in respect of the reductions of capital of S&F VCT and S&F 2 VCT,
the registration of the Court Orders; (iii) the admission of the New S&F 3 VCT
Shares to the Official List becoming effective in accordance with the Listing
Rules or the UKLA agreeing to admit such shares to the Official List; and (iv)
the admission to trading of the New S&F 3 VCT Shares becoming effective in
accordance with the rules of the London Stock Exchange or the London Stock
Exchange agreeing to admit such shares to trading.

It is expected that the Court Orders will be delivered and registered, the New S
&F 3 VCT Shares will be admitted to the Official List and to trading on the
London Stock Exchange's main market for listed securities and the Merger will
become effective on 22 February 2006.

The directors of S&F 3 VCT accept responsibility for the information contained
in this announcement. To the best of the knowledge and belief of the S&F 3 VCT
directors (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.

Terms used in this announcement have the meanings set out in the circular to
shareholders dated 11 January 2006.

Enquiries:

Singer & Friedlander Investment Management Limited
Andrew Banks
Tel: 020 7523 5540




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