SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* LEVY MICHAEL (Last) (First) (Middle) C/O SILVERSTAR HOLDINGS, LTD. 1900 GLADES ROAD, SUITE 435 (Street) BOCA RATON FL 33431 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SILVERSTAR HOLDINGS LTD [ SSTR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 09/06/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock(1)	09/06/2007		P		68,965(2)	A	$1.45	193,064	D
Class A Common Stock(1)	09/06/2007		C		604,786(3)	A	$0	797,850	D
Class A Common Stock(1)	12/15/2007		M		10,000	A	$0.16	807,850	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class A Common Stock Purchase Warrants (right to buy)	$2.1(4)	09/06/2007		P		48,276		03/06/2008	09/06/2012	Class A Common Stock	48,276	$1.45(5)	48,276	D
Class B Common Stock(1)	(6)	09/06/2007		C		604,784		(6)	(6)	Class A Common Stock	48,276	$0	0	D
Options to buy Class A Common Stock	$0.16	12/15/2007		M			10,000	12/16/2002	12/15/2007	Class A Common Stock	10,000	$0	60,000	D

Explanation of Responses:

1. Class A Common Stock and Class B Common Stock are substantially identical except that the holders of Class B Common Stock have five votes per share on each matter considered by shareholders of Silverstar Holdings Ltd. (the "Issuer"). Each share of Class B Common Stock is convertible at any time by the holders of the Class B Common Stock into one share of Class A Common Stock and is automatically convertible into one share of Class A Common Stock upon sale of the Class B Common Stock or death of the holder of the Class A Common Stock.

2. On September 6, 2007 the Issuer completed the second part of a two-part sale of units (the "Units") in a private placement transaction (the "Private Placement") pursuant to a purchase agreement, dated July 2, 2007, by and among the Issuer and the purchasers named therein. Each Unit included one share of Class A Common Stock of the Issuer and a warrant to purchase .70 shares of Class A Common Stock of the Issuer. The sale and issuance of the Units was completed in two closings. The first closing was completed on July 5, 2007 and the second closing was completed on September 6, 2007. The Reporting Person purchased Units in the second closing only.

3. Acquired upon conversion of Class B Common Stock, see note (6) below.

4. The exercise price of the warrants are subject to adjustment for certain dilutive issuances of Common Stock or securities exercisable or convertible into Common Stock.

5. The warrants were included in Units purchased from the Issuer in the Private Placement. The purchase price of each Unit was $1.45.

6. In connection with the closing of the Private Placement, the Reporting Person voluntarily converted each share of Class B Common Stock of the Issuer that it owned into one share of Class A Common Stock of the Issuer on September 6, 2007.

	/s/ Michael Levy	01/30/2008
	** Signature of Reporting Person	Date
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