Transaction in Own Shares

16 november 2007 Downing Protected VCT III plc Transaction in own shares 16 November 2007 Downing Protected VCT III plc announces that on 16 November 2007, the Company purchased 40,000 ordinary shares of 1p each for cancellation representing 0.40% of the issued share capital at a price of 86p per share. ---END OF MESSAGE---