Starvest : Chairman resignation and appointment of a successor

Starvest Plc ("Starvest" or "the Company")

Chairman resignation and appointment of a successor

It is with much regret that the Company announces the resignation from the Board of Mr R Bruce Rowan who is retiring for health reasons. Bruce has been Company Chairman since January 2002 and the Starvest board would like to record its considerable gratitude to Mr Rowan for everything he has done for the Company over many years.

Over recent days, and with the agreement of Bruce Rowan, the Board has been in discussion with Mr Callum Baxter with a view to him assuming the role of Chairman and CEO and is delighted to announce that Callum Baxter has accepted the role with immediate effect.

Callum Baxter is a geologist with over 20 years of global multi-commodity experience and is a member of the Australian Institute of Geoscientists and the Australasian Institute of Mining and Metallurgy. He has considerable experience in the natural resources sector as an exploration geologist with companies that include Equinox Resources, Eagle Mining Corp and Hunter Exploration. Latterly, he was a director and principal geologist for Baxter Geological, a mineral exploration services and management support consultancy. He is CEO of AIM quoted Greatland Gold plc and a Non-executive Director of ISDX quoted Goldcrest Resources plc, both companies actively involved in mineral exploration and two of the companies in which Starvest has invested. Callum Newton Baxter, aged 46, is or has been a director of the following companies in the past five years:

There is no further information that is required to be disclosed under Schedule 2 paragraph (g) of the AIM Rules for Companies. Callum Baxter holds no shares in the Company.

Enquiries to: John Watkins, Finance Director 07768 512404; john@starvest.co.uk

Colin Aaronson - Grant Thornton UK LLP 020 7383 5100

Nick Emerson - SI Capital Limited 01483 413500

END