AGM Statement

Artisan (UK) PLC
05 September 2006



                                  Artisan (UK) plc



           Chairman's Statement at the Annual General Meeting



At today's Annual General Meeting, Michael Stevens, Chairman will make the
following statement:



'Since our March year end each business has made progress.  Our commercial
developments company, Artisan (UK) Developments, is enjoying a good level of
interest in its developments, though this interest still takes time to convert
into a contracted sale.



Rippon Homes, the group's East Midlands based house building company, is finding
that each sale must be hard won. However, apart from a hiatus experienced during
the football world cup, reservations are at reasonable levels, although these
reservations can prove fragile where the vendor has a property to sell.  Rippon
Homes' careful use of sales assistance and part exchange schemes helps to
mitigate this issue.



Whilst we expect trading to be weighted towards the latter part of the current
period, your Board is confident of making good progress for the year as a whole.



Investment in further sites remains key to the Group's growth and much effort is
directed towards this by both divisions.  We have continued to purchase land
successfully and we are tendering for more land.  The purchase process remains
difficult and whilst we are very competitive in our bidding, there remain
competitors willing to spend aggressively to secure a site, especially in the
commercial development sector.  Finalising planning issues also builds delay
into the development process: the government's attempt to speed matters has not
always resulted in an improvement in gaining a planning permission.   On the
sales side, we are encouraged by customer interest at two of our new sites, in
particular the residential site near Lincoln and our new business park site in
Peterborough.



In common with all fully listed and AIM listed companies, Artisan must move
towards adopting the International Financial Reporting Standards (IFRS) basis of
accounting.



As part of the adoption of IFRS, the Company will move from an 'exchange basis'
to a 'completion basis' of revenue recognition, which will bring Artisan into
line with the majority of quoted property developers.  We have considered the
impact of this in relation to our key selling periods and decided that a 30 June
year end will be more appropriate than the current 31 March year end, which will
again bring the Company in line with many others in the sector who tend to have
June or December reporting periods.



We expect to deliver a post close trading statement in October and we shall
provide further advice as to the changes arising from the adoption of IFRS
accounting, including the change in revenue recognition and year end.  However
at this stage other than the changes arising from the change in Revenue
Recognition and the need to longer amortise goodwill, we do not expect
significant changes to profitability and net assets to arise.'





Artisan (UK) plc                                             01480 436666

Chris Musselle, Chief Executive



Brewin Dolphin

Ifor Williams                                               0121 236 7000




Bankside Consultants                                        020 7367 8888

Simon Rothschild/Louise Mason                        Mobile: [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange