AGM Statement

Artisan (UK) PLC
07 September 2005


                                Artisan (UK) plc


                  Chairman's Statement Annual General Meeting 
                                7 September 2005
                                        

At the last AGM I said that the strategy of investing in the core activities was
then producing a more stable and profitable return. I am very pleased that the
results for 2005 have borne this out with pre tax profits nearly doubling to
£2.1m. Whilst this may have been a little flattered by a very successful
conclusion to the year's trading, there is no doubt that Rippon Homes continued
to provide a strong return and the positive expectations for Artisan (UK)
Developments business park activity did translate into improved sales and
profitability. Your management team has more than delivered against
expectations.

Your team has also pursued a number of acquisition opportunities, but is yet to
find the correct opportunity. I am sure that shareholders will recognise that
the Group has successfully stabilised through concentration on its core
activities. Having achieved this stabilisation the board will continue to search
for an acquisition that meets its criteria both on price and potential to
enhance its activities.

As separately announced today we have taken the opportunity to restructure our
management team. At the same time Martyn Freeman, has been a key element of our
team through the last few years, has decided to stand down and I thank him
greatly for his contributions as Chief Executive. I welcome John Jones, Managing
Director of Rippon Homes, back to the main board and look forward to his
positive contributions. I am pleased to say that Financial Director Chris
Musselle now becomes Chief Executive. We have also recognised the strong
contributions made by the financial controllers in the trading companies and
appointed Geoff Lawler and Frances Harvey financial directors of the companies
they represent. Your board also recognises that, either through acquisition or
our own development, there is the opportunity for wider involvement in the
property market and this may well result in a further appointment to the board
when the right opportunity is found.

Those familiar with Artisan will be aware that for the last three years we have
been involved in litigation with the purchaser of Bickerton Construction Limited
and will be aware that this overhangs Artisan and its shareholders. I am pleased
to remind you that not only have we won the original hearing, but also the
appeal. Since the appeal hearing the appellants have sought leave for permission
to appeal to the House of Lords. In the meantime Artisan has received £456,000
on account of costs, although this will only be recognised in the Profit and
Loss account once we have achieved closure on the appeal process.

The outlook at present is a little mixed. Whilst Artisan (UK) Developments
continues to see good trading in its business park activities, the sales
achieved to date at Rippon Homes have been below our expectations as, in common
with other developers, we have seen reduced demand. However the Rippon Homes
team will utilise all avenues to complete sales. The board is confident that if
more normal trading conditions return to the residential market in the autumn
and early 2006, expectations for the financial year can be met.


Artisan (UK) plc      Chief Executive             01480 436666
Chris Musselle                                    [e-mail]

Seymour Pierce        Nominated advisers          020 7107 8000
Sarah Wharry

Bankside Consultants  Financial PR advisers       020 7367 8888
Simon Rothschild                                  07703 167065

Company website: www.artisan-plc.co.uk



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