We analyze the stabilization and the exact controllability of a third order linear equation in a bounded interval. That is, we consider the following equation:where u ¼ uðx; tÞ is a complex valued function defined in ð0; LÞ Â ð0; þlÞ and a, b and g are real constants. Using multiplier techniques, HUM method and a special uniform continuation theorem, we prove the exponential decay of the total energy and the boundary exact controllability associated with the above equation. Moreover, we characterize a set of lengths L, named X, in which it is possible to find non null solutions for the above equation with constant (in time) energy and we show it depends strongly on the parameters a, b and g.