Tuesday 2 October 2012 Net asset value at 30 September 2012 At 30 September 2012 the nine core investee companies in our portfolio represented 75% by value of the total. We have no debt and we continue to value our investee companies on a conservative basis. However, 2012 has been a tough year in which the share prices of our chosen investee companies have steadily fallen. We will set out our thoughts in the annual report which is to be mailed to shareholders in early November. In the meantime, there can be no doubt that small-cap mineral exploration ventures, in which we are predominantly invested, have been particularly badly hit by current worldwide uncertainties; many are finding it hard to raise new cash to continue with their early stage exploration and other activities so huge patience is required. 30 30 30 September 2011 September June 2012 2012 Company asset value net of tax £3.66m £3.87m £6.62m Net asset value - fully diluted per 9.86 pence 10.43 pence 17.57 pence share Share price - mid 6.5 pence 6.38 pence 13.00 pence Share price discount to net asset 34% 39% 26% value Market capitalisation £2.41m £2.37m £4.77m All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2011 annual report and are net of a 10% discount totalling £354,000 applied to substantial holdings. The Board expects to announce the full audited results for the year ended 30 September 2012 and to provide an investment commentary by 26 October 2012. R Bruce Rowan Chairman & Chief Executive 2 October 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 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Starvest plc via Thomson Reuters ONE [HUG#1645725]