SVE Starvest Plc

RNS Number:0559H
Starvest PLC
01 August 2006



RNS Announcement:  Tuesday 1 August 2006


Net asset value update at 31 July 2006

The Directors are pleased to report the net asset value of the Company's
portfolio at 31 July 2006.  Based on mid-market closing prices, the position
was:

*  Company net asset value pre tax:       #13.4m
*  Net asset value per share pre tax:     32.76 per share, fully diluted
*  Share price:                           17.25 pence
*  Share price discount to NAV:           47%                   
*  NAV increase since 31 July 2005:       #6.9m or 106%


In common with the small-cap natural resources market in which Starvest is
largely invested, the portfolio value has declined during the past three months
from #17.7m at 28 April 2006.  However, the Board remains content with the
investments made and confident of a recovery as these companies execute their
exploration plans.

Since the Chairman's May 2006 update was issued, Starvest has completed its
investment in Greatland Gold plc which was admitted to AIM on 3 July, increased
its investment in Addworth plc and committed to support KEFFI Minerals plc which
expects to be admitted to AIM by the end of 2006.

Change of accounting reference date

As announced on 14 July 2006, the Board has decided to change the accounting
reference date from 31 July to 30 September for the coming year end and
following years.

The immediate purpose is to facilitate the presentation of a clean balance sheet
at the next accounting year end and so more easily attain a position in which
either the Company can pay a maiden dividend or engage in a programme of share
buy-backs for which the Members' approval was sought and granted at the last
Annual General Meeting on 11 October 2005.

Consequential changes

Following the change in accounting date, the Board's current expected timetable
is:


 * 2 October 2006:      Net asset value update at 30 September 2006

 * End October 2006:    Announcement of results for the 14 months to 30 
                        September 2006

 * Mid November 2006:   Publication of Directors' report and issue of AGM notice

 * Mid December 2006:   Net asset value update and Annual General Meeting

 * 3 January 2007:      Chairman's quarterly update as at 31 December 2006


Enquiries to: John Watkins, telephone 01483 771992, or to john@starvest.co.uk

END


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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