Tuesday 3 April 2012



Net asset value update

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

                          31 March 31 December 2011    30  September    31 March
                              2012                              2011        2011

Trading portfolio           £4.31m           £4.75m           £5.47m     £10.03m
value

Company asset value         £4.98m           £5.42m           £6.62m     £10.10m
net of debt

Net asset value per    13.33 pence       14.6 pence      17.57 pence 26.16 pence
share - fully diluted

Share price - mid      10.00 pence      12.00 pence      13.00 pence 13.75 pence

Share price discount           25%              17%              26%         47%
to fully diluted net
asset value

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; john@starvest.co.uk

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

END






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Source: Starvest plc via Thomson Reuters ONE
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