Starvest plc : Net Asset Value(s)

Tuesday 3 April 2012

Net asset value update

The Company announces the net asset values as at 30 March 2012 as follows:

	31 March 2012	31 December 2011	30  September 2011	31 March 2011
Trading portfolio value	£4.31m	£4.75m	£5.47m	£10.03m
Company asset value net of debt	£4.98m	£5.42m	£6.62m	£10.10m
Net asset value per share - fully diluted	13.33 pence	14.6 pence	17.57 pence	26.16 pence
Share price - mid	10.00 pence	12.00 pence	13.00 pence	13.75 pence
Share price discount to fully diluted net asset value	25%	17%	26%	47%
Market capitalisation	£3.71m	£4.41m	£4.77m	£5.05m

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2011 annual report.

The steady decline in valuations since early 2011 has continued during the quarter with a fall of 8% reflecting the fragile state of junior markets during the period.

The Company expects to announce its interim results for the six months to 31 March 2012 towards the end of April.

R Bruce Rowan Chairman & Chief Executive 3 April 2012

Enquiries to:

Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director 07768 512404; [e-mail]

Gerry Beaney, Colin Aaronson or David Hignell, Grant Thornton Corporate Finance 020 7383 5100

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Source: Starvest plc via Thomson Reuters ONE

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