Investment Performance

Thursday 7 January 2010

Starvest Plc


Chairman’s update for shareholders – 7 January 2010

Investment performance

The  Starvest investment performance since 30 September 2009 has been mixed. Net
of  debt, the  Company net  asset value  has declined  by 4.5% during  the three
months to 31 December 2009. However:

  * the closing share price at 7.0 pence, indicates a discount to net asset
    value of 34%;
  * investment sales have realised £416,525 with a gross profit of £210,326;
  * the bank overdraft has been reduced below £300,000;

Starvest  uses closing bid  prices or the  Directors’ lower valuation, if deemed
appropriate.

Company statistics


                         31 December    30 September 30 June 2009   31 December
                                2009            2009                       2008

 Trading portfolio            £4.17m          £4.72m        £4.3m        £3.92m
 value

 Company asset value          £3.84m          £4.02m       £3.62m        £3.23m
 net of debt

 Net asset value –
 fully diluted per       10.59 pence     11.08 pence  10.01 pence    8.98 pence
 share

 Share price - mid         7.0 pence     11.75 pence    9.5 pence       6 pence

 Share price discount
 to fully diluted net            34%      6% premium           5%           33%
 asset value

 Market                       £2.44m           £4.1m       £3.31m        £2.09m
 capitalisation


The  next valuation will  be as at  31 March 2010, the end  of the half year. An
interim statement is expected to be released during April 2010.


  R Bruce Rowan

  Chairman & Chief Executive

  7 January 2010




Enquiries to:

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

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