Notes to the Accounts
12. Other fixed asset investments
| 1997 | 1996 | |||
| All figures in £ millions | Valuation | Book Values | Valuation | Book Values |
| Listed | 1.3 | 1.2 | 111.8 | 100.2 |
| Unlisted | 463.5 | 138.8 | 355.0 | 141.8 |
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| 464.8 | 140.0 | 466.8 | 242.0 | |
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Note: During the year the Group's 10% shareholding in Television Broadcasts Limited (TVB) was sold for £110.8m. The sale was made cum dividend and consequently £2.1m (1996: £2.8m) has been included in operating profit and a profit on disposal of £4.1m recorded. During the year the Group exchanged its minority equity interests in UK Gold and UK Living, two satellite channels, for 8.8 million shares in Flextech plc. The Group sold 4 million of these shares giving a profit on disposal, before tax, of £23.9m. At 31 December 1997 the Group holds 4.8 million shares in Flextech plc. Subsequent to the year end the Group's 6.3% shareholding in Société Européenne des Satellites was sold for £159.5m (see note 31). If all investments were realised at valuation there would be an estimated liability for taxation, at year end rates, of £78.3m.
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| All figures in £ millions | BSBN | TVB | Other | Total |
| Summary of movement | ||||
| At 31 December 1996 | 93.7 | 99.0 | 49.3 | 242.0 |
| Exchange differences | - | 5.6 | 0.5 | 6.1 |
| Additions | - | - | 11.2 | 11.2 |
| Transfer to partnerships and associated undertakings | - | - | (0.4) | (0.4) |
| Transfer to current asset invetsments | - | - | (0.1) | (0.1) |
| Disposals | (3.4) | (104.6) | (9.6) | (117.6) |
| Provisions for permanent diminution in value | - | - | (1.2) | (1.2) |
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| Book value at 31 December 1997 | 90.3 | - | 49.7 | 140.0 |
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| Valuation at 31 December 1997 | 255.0 | - | 209.8 | 464.8 |
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