  We study the near horizon geometry of black ring solutions in
five-dimensional U(1)^3 supergravity with three electric dipole charges and one
angular momentum. We consider the extremal vanishing horizon (EVH) limit of
these solutions and show that the near horizon geometries develop locally AdS_3
throats which at the near-EVH near horizon limit the AdS_3 factor turns to a
BTZ black hole. By analysing the first law of thermodynamics for black rings we
show that at EVH limit it reduces to the first law of thermodynamics for BTZ
black holes. Using the AdS3/CFT2 duality, we propose a dual CFT to describe the
near-horizon low energy dynamics of near-EVH black rings. We also discuss the
connection between our CFT proposal and the Kerr/CFT correspondence in the
cases where these two overlap.
