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Multi-antenna systems allow for high data rates and improved quality of service but the cost paid for deriving these benefits is hardware complexity due to multiple antennas and the number of RF chains. Antenna selection techniques are proposed in recent time to reduce the hardware complexity to considerable extent, retaining the diversity benefits of multiple-input multiple-output (MIMO) systems. Space-Time coding schemes are the practical signal design techniques to realize the information theoretic capacity limits of MIMO systems. In this paper, orthogonal space-time block codes (OSTBC) are considered for the capacity and error probability analysis of MIMO systems with receive antenna selection. The numerical and simulation results obtained using MATLAB are presented for the channel capacity and bit-error probability in Rayleigh fading channels. The results are compared with and without antenna selection of space-time block coded MIMO system.