|              |   |   | CAPITAL REALTY INVESTORS-III                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              |   |   |     LIMITED PARTNERSHIP                                                                                                                                                                |
|              |   |   | (Registrant)                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|              |   |   | by:    C.R.I., Inc.                                                                     |
|              |   |   | Managing General Partner                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| September 1, 2010 |   |   | by:      /s/ William B. Dockser                                                                                                                                                                                                               |
| DATE              |   |   | William B. Dockser,                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|              |   |   | Director, Chairman of the Board                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|              |   |   | and Treasurer                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|              |   |   | (Principal Executive Officer)                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|              |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| September 1, 2010 |   |   | by:   /s/ H. William Willoughby                                                                                                                                                                                                                                                  |
| DATE              |   |   | H. William Willoughby,                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|              |   |   | Director, President, Secretary,                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|              |   |   | Principal Financial Officer and                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|              |   |   | Principal Accounting Officer                                                                                                                                                                                                                                                                                                                                                                                                                                    |