Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
(18 U.S.C. SECTION 1350)

I, Gregory A. Wells, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

        To the best of my knowledge and belief, the quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2003, by NTS-Properties III (the “Periodic Report”) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934, and the information contained in the Periodic Report fairly presents, in all material respects, the financial condition and results of operations of NTS-Properties III.

        A signed original of this written statement required by Section 906 has been provided to NTS-Properties III and will be retained by NTS-Properties III and furnished to the Securities and Exchange Commission or its staff upon request.

/s/ Gregory A. Wells                                              
Chief Financial Officer of NTS Capital Corporation,
General Partner of NTS-Properties Associates,
General Partner of NTS-Properties III