Weekly NAV to be Reported

Business Wire, Jan 27, 1999

DALLAS--(BUSINESS WIRE)--Jan. 27, 1999--Renaissance Capital Growth & Income Fund III, Inc. (Nasdaq: RENN) announced today that, beginning 1 February 1999, the Net Asset Value (NAV) of its investments will be estimated on a weekly basis and reported to Bloomberg Financial Markets every Monday.

These estimates will be calculated consistent with RENN's usual methodology. Quarter end NAV's will be reviewed and approved by the Fund's Board of Directors. As of the close of business on January 22, the Fund's NAV was $11.06.

Russell Cleveland, President and CEO which manages this Fund, stated: "We believe this new policy will allow investors to better appraise the value represented by the many fine companies in which the Fund is invested."

You may visit the Fund's Web site for additional information at: http://www.rencapital.com or e-mail your questions to us at investor-relations@rencapital.com.

Renaissance Capital Growth & Income Fund III, Inc. is a closed-end Business Development Company, trading on the NASDAQ Market, symbol RENN.

Source: DigitalWork http://www.digitalwork.com