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Renaissance Capital Announces Third Quarter Distribution
Renaissance Capital Growth & Income Fund III, Inc.




Dallas, August 07, 2006 -- Renaissance Capital Growth & Income Fund III, Inc. (RENN) , a leading convertible closed-end fund, announced that the Board of Directors has approved a dividend distribution of $0.10 per share. The dividend will be payable on August 29, 2006, to shareholders of record as of August 15, 2006.

With this dividend, the Fund will have paid its investors a total of $13.71 per share in cash distributions since its initial public offering in 1994 at $10.00.

About Renaissance Capital Growth & Income Fund III, Inc.
Renaissance Capital Growth & Income Fund III, Inc. is a closed-end Business Development fund 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 26 businesses in various industries.




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