AGM Statement

RNS Number : 4570X

Artisan (UK) PLC

07 December 2010

ARTISAN (UK) PLC ("Artisan" or the "Group")

AGM STATEMENT 2010

At the Annual General Meeting of Artisan, the business park developer and housebuilder, to be held today (7 December 2010), Chairman Michael Stevens will make the following statement:

"Artisan's results for the year to 30 June 2010 continue to reflect the very difficult market conditions experienced by house builders and developers generally. I believe these are the toughest the Group has ever experienced. However operating losses were considerably reduced compared with the previous year.

In today's market we still see the difficult conditions that continue to inhibit our ability to make sales progress. Volumes are lower than we would like to see. However we are convinced that underlying demand remains strong and that once customers have more confidence and debt funding becomes available in greater volume and on reasonable terms, we will start to see a return to sales growth.

The better sales interest in our residential stock is for the four bedroom homes and bungalows. The bungalows we offer have proved to generate good interest from customers and have been recognized in the national press. Our marketing is carefully considered and there is a constant quest to create new initiatives to attract customers.

Commercial activity is relatively quiet and we continue to promote our stock units for sale. Encouragingly we have entertained enquires for more substantial forward let premises and where the covenant is good, a positive interest from potential investors. This demonstrates that whilst trading conditions are difficult and uncertain for many businesses, there are organisations that do continue to trade well with strong prospects.

As stated before I, along with the rest of the Board, are determined that we should position Artisan for growth as the market returns. We will look to assess the feasibility of enhancing organic growth, potential combinations of businesses or assets or new property related activities. We will also continue to review the existing operations and assess the best structure for the Group going forward.

Our bank is an important business partner and we will continue to work closely with them, particularly as we negotiate facilities beyond the expiration of the current arrangement which will require renewal before 1 July 2011.

Although short term prospects remain challenging, I believe that that properly structured, and when financing is in place, Artisan has an excellent opportunity for growth as and when market conditions improve."

Michael W Stevens

Chairman

7 December 2010

For further information please contact:

Artisan (UK) plc

Chris Musselle

Chief Executive

01480 436666

email@artisan-plc.co.uk

Altium Capital Limited

Adrian Reed

Adam Sivner