Six Unique Emerging Growth Companies Will Present Investment Opportunities DALLAS, May 4 /PRNewswire-FirstCall/ -- Renaissance Capital Growth & Income Fund III, Inc. (OTC:RENN) will hold its RENN Investor Conference on Friday, May 19, 2006, at the Hilton Anatole Hotel in Dallas, Texas. The conference will begin at 8 a.m. with a continental breakfast and will conclude at 12:00 p.m. followed by a light lunch. The conference will feature presentations by the management of six unique emerging growth companies from our portfolio: Simtek Corporation (OTC:SRAM) (BULLETIN BOARD: SRAM) is the inventor/pioneer and world's leading supplier of advanced monolithic nonvolatile static random access memory (nvSRAM) integrated circuits. The company designs and markets high-speed, re-programmable, nonvolatile semiconductor memory products, for use in a variety of systems including RAID servers, high performance workstations, GPS navigational systems, robotics, copiers and printers, and networking and broadcast equipment. Bovie Medical Corporation (AMEX:BVX) is actively engaged in the business of manufacturing and marketing medical products and developing related technologies. Over the past several years, Bovie has focused on the manufacture and marketing of generators and electrosurgical disposables, evidenced by the development of a broad range of electrosurgical generators designed for doctor's offices, surgicenters and hospitals. Information Intellect, Inc. (Private) delivers enterprise asset management solutions through effectively integrating powerful software and metering applications and the services of experienced, knowledgeable consultants. Information Intellect offers software solutions to utilities for tax management, capital project management, fixed asset management and cost of service modeling for rate cases. Hemobiotech, Inc. (OTC:HMBT) (BULLETIN BOARD: HMBT) , in conjunction with Texas Tech University, has developed HemoTech, an oxygen-carrying solution that performs like red blood cells. It addresses an increasing yet unmet demand for safe and inexpensive blood in the US and around the world. HemoTech has pharmacological properties that are believed to aid in the recovery of patients receiving the product in lieu of transfusions of red blood cells from conventional blood supplies. HemoTech is patented in key global markets. Integrated Security Systems Incorporated (OTC:IZZI) (BULLETIN BOARD: IZZI) is a technology company that provides products and services for homeland security needs. ISSI also designs, develops and markets safety equipment and security software to the commercial, industrial and governmental marketplaces. ISSI is a leading provider of anti-terrorist barriers, traffic control and safety systems within the road and bridge and perimeter security gate industries. Inyx, Inc. (OTC:IYXI) (BULLETIN BOARD: IYXI) is a specialty pharmaceutical company with niche drug delivery technologies and products for the treatment of respiratory, allergy, dermatological, topical and cardiovascular conditions. Focusing on both prescription and over-the-counter pharmaceutical products, Inyx provides specialty pharmaceutical development and production consulting services to the international healthcare market, including a number of the largest pharmaceutical companies in the world. Finally, Michael Casson of The China Club Investment Alliance, an international membership organization that identifies high growth micro and small-cap public companies that trade on U.S. exchanges, but whose primary business operations are in the People's Republic of China, will speak about investment opportunities in China. Mr. Casson is the Founder of the China Club and publisher of The China Dispatch, which includes specific Buy, Sell and Hold recommendations, weekly e-mail updates and periodic market sector research reports. The conference is open to qualified investors and institutional fund managers only. Please RSVP to Kathryn Semon at or 214-891-8295 if you plan to attend by Friday, May 12, 2006. About Renaissance Capital Growth & Income Fund III, Inc. Renaissance Capital Growth & Income Fund III, Inc.(OTC:RENN) 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 23 businesses in various industries. The Fund has paid its investors a total of $13.51 per share in cash distributions since its initial public offering in 1994 at $10.00. 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 http://www.rencapital.com/. Investor Contact: Media Relations Contact: RENN Capital Group, Inc. Chris Rosgen Michelle Sparks: 214-891-8294 Capital Market Relations (949) 481-9739 "FINDING VALUE, ADDING VALUE, REALIZING VALUE" DATASOURCE: Renaissance Capital Growth & Income Fund III, Inc. CONTACT: Investors, Michelle Sparks of RENN Capital Group, Inc., +1-214-891-8294, , for Renaissance Capital Growth & Income Fund III, Inc.; or Media Relations, Chris Rosgen of Capital Market Relations, +1-949-481-9739, for Renaissance Capital Growth & Income Fund III, Inc. Web site: http://www.rencapital.com/

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