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

Renaissance Capital Growth & Income Fund III, Inc. (NYSE-AMEX:RCG) will hold its Annual Meeting and the RENN Investor Conference on Friday, May 15, 2009 at the Hilton Anatole Hotel, 2201 Stemmons Freeway, Dallas, Texas. A continental breakfast will be served starting at 7:30 a.m. with the Annual Meeting beginning at 8 a.m. and concluding with a lunch.

The conference will feature presentations by the management of six unique emerging growth companies from our portfolio, which are Alliance Healthcard Inc. (OTCBB:ALHC), Bovie Medical Corp.(NYSE-AMEX:BVX), BPO Management Services, Inc. (OTCBB:HAXS), Hemobiotech, Inc. (OTCBB:HMBT), and Points International Ltd. (OTCBB:PTSEF). These companies represent such diverse industries as e-marketing, health care cost, data processing services and medical. Mr. Beau Johnson will also be our featured speaker on China. The familiarity that he has acquired with how business is done in China, combined with his experience in the U.S., provides a unique insight into the emerging market opportunities in both countries.

If you plan to attend, please RSVP to Kathryn Semon at kathryn@rencapital.com or 214-891-8295 by Monday, May 4, 2009.

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-traded growth companies. 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.

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.