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1.
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I
have reviewed this quarterly report on Form 10-Q of Renaissance Capital
Growth & Income Fund III, Inc.;
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2.
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Based
on my knowledge, this annual report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to
make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
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3.
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Based
on my knowledge, the financial statements, and other financial information
included in this annual report, fairly present in all material respects
the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented
in
this
report;
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4.
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The
registrant’s other certifying officer
and I are responsible for establishing and maintaining disclosure
controls
and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)
for the registrant and have:
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a)
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designed
such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed
under our
supervision,
to
ensure that material information relating to the registrant is made
known
to us by others, particularly during the period in which this
report is being prepared;
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b)
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evaluated
the effectiveness of the registrant’s disclosure controls and procedures
and
presented
in this report
our conclusions about the effectiveness of the disclosure controls
and
procedures,
as of the end of the period covered by this report based on such
evaluation; and
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c)
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disclosed
in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent
fiscal quarter (the registrant’s fourth fiscal quarter in the case of an
annual report) that has materially affected, or is reasonably likely
to
materially affect, the registrant’s internal control over financial
reporting;
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| 5. |
The
registrant’s other certifying officer
and I have disclosed,
based on
our most recent evaluation
of
internal control over financial reporting,
to
the registrant’s auditors and
the audit committee of the registrant’s board of directors
(or persons performing the equivalent functions):
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a)
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all
significant deficiencies and
material weaknesses in
the design or operation of internal control
over financial reporting
which are
reasonably likely to
adversely affect the registrant’s
ability to record, process, summarize,
and report financial information;
and
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b)
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any
fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant’s
internal control over financial reporting.
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| /s/ Russell Cleveland | ||
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Russell
Cleveland
President
and Chief
Executive Officer
(Principal
Executive Officer)
December
19, 2006
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