Renaissance Capital Growth & Income Fund III, Inc. Announces its Annual RENN III Investor Conference

Business Wire, April 16, 2008

DALLAS -- Renaissance Capital Growth & Income Fund III, Inc. (AMEX:RCG) will hold its Annual RENN III Investor Conference on Friday, May 16, 2008 at the Hilton Anatole Hotel, 2201 Stemmons Freeway, Dallas, Texas. The conference will begin at 7:30 a.m. with a continental breakfast and, following the Annual Shareholder Meeting and presentations, will conclude around 12:00 noon followed by a light lunch.

The conference will feature presentations by the management of six unique emerging growth companies from our portfolio which are: Bovie Medical Corp. (AMEX:BVX), BPO Management Services, Inc. (OTC:BPOM), Hemobiotech, Inc. (OTC:HMBT), PetroHunter Energy Corporation (OTC:PHUN), Points International Ltd. (OTC:PTSEF), and Vertical Branding (OTC:VBDG). We will also have Dr. Richard Propper, an expert in Chinese investing, speak on China and give an update on two additional RENN holdings: A-Power Energy Generation Systems, Ltd. (NASDAQ:APWR) and HLS Systems International, Ltd. (OTC:HLSYF). These companies represent such diverse industries as electric utilities, healthcare equipment, medical, office services and supplies, oil and gas, and specialty retail.

Please RSVP by Thursday, May 1, 2008 to Kathryn Semon at kathryn@rencapital.com or 214-891-8295 if you plan to attend.

About Renaissance Capital Growth & Income Fund III, Inc.

Renaissance Capital Growth & Income Fund III, Inc. is a closed-end Business Development Company concentrating on investing in emerging publicly owned growth companies, primarily through private placements of convertible securities. The Fund seeks long-term capital appreciation and current income by investing in emerging growth companies. The Fund's current Portfolio consists of investments in 30 businesses in various industries.

Forward-Looking Statements

The Fund seeks long-term capital appreciation and current income by investing in emerging growth companies. This report contains forward-looking statements. Such statements reflect the current views of the Fund with respect to future events and are subject to certain risks, uncertainties, and assumptions. Although the Fund believes that the expectations reflected in such forward-looking statements are reasonable, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual future results or events may vary materially from those described herein. Past performance is not indicative of future results. For additional information, please visit www.rencapital.com.