Investment in Black Raven

3 Feb 2005 07:00

Blue Star Capital plc03 February 2005 For immediate release 3 February 2005 BLUE STAR CAPITAL PLC ("Blue Star" or "the Company") Investment in Black Raven Properties plc Blue Star Capital plc (AIM: BLU), the company created to provide seed capitalfor early stage companies, is pleased to announce it has taken a 29.9 per centstake in Black Raven Properties plc ("Black Raven"), a company that today beginstrading on the Alternative Investment Market (AIM). Blue Star led the formation of Black Raven (AIM: BRP), a company formed to seek,purchase and develop commercial, residential and leisure sites with theobjective of generating the majority of its profits through the sale of longleaseholds of developed units. Blue Star invested £273,750 in Black Raven, in return for 29.9 per cent of thecompany's shares. Black Raven is the second company to be formed by Blue Star following BlueStar's flotation on AIM in October 2004. In December 2004 India OutsourcingServices plc, the first company to be formed by Blue Star, began trading on AIM. Nigel Robertson, Blue Star Capital's Chairman, said: "This is the second companythat we have successfully formed and floated at Blue Star, highlighting the paceand determination with which we mean to build a diverse investment portfolio.Our first two investments, together with other potential opportunities availableto us, give us confidence for the future." ENDS For further information: Blue Star Capital plc Tel: 020 7070 7283Nigel Robertson, ChairmanHaresh Kanabar, Chief Executive Durlacher Limited Tel: 020 7459 3600Jonathan RetterKatherine Roe Buchanan Communications Tel: 020 7466 5000Mark CourtElly Williamson This information is provided by RNS The company news service from the London Stock Exchange