Director Shareholding

Artisan (UK) PLC
02 April 2004


                                ARTISAN (UK) PLC
                             GRANT OF SHARE OPTIONS

Artisan (UK) plc announces that under the authority allowed in the existing
Approved and Unapproved Executive Share Option schemes, share options have been
issued to the Executive Directors of Artisan (UK) plc and other senior
management of the trading companies within the group. The number and terms of
the share options were carefully considered by the Remuneration Committee and
issued to help ensure that the interests of senior management of the group are
maintained alongside those of the shareholders. The Remuneration Committee
believe that a principal interest of the shareholders is share price growth and
accordingly the exercise of the shares is conditional upon share price growth in
Artisan (UK) plc.

The options granted to the Executive Directors are as follows:

 Name      Share options   Total share options   Exercise      Scheme
             granted           now held          price      Conditions
           1April 2004

Martyn          500,000              500,000        3.00p   Approved    a
Freeman
                916,666              916,666        3.00p   Unapproved  b
                                                            
                916,667              916,667        3.00p   Unapproved  c
                                                            

Chris           500,000              500,000        3.00p   Approved    a
Musselle
                916,666              916,666        3.00p   Unapproved  b
                                                            
                916,667              916,667        3.00p   Unapproved  c
                                                            
In addition to those options granted on 1 April 2004, Chris Musselle and Martyn
Freeman each hold 1,500,000 options exercisable at 16p per share between 17 May
2003 and 18 September 2010.

Conditions
a    The exercise of the option is conditional on the closing mid-market
     price of an ordinary share exceeding the threshold price for a
     consecutive period of 30 days prior to the date of exercise.
     The threshold price is:
        •until 6 April 2007                                      4.25p

        •until 31 March 2008                                     4.75p

        •until 31 March 2009                                     5.50p

        •after 31 March 2009 the options lapse

     These options may be exercised between three and ten years after
     the options were granted.

b    The Exercise of the Option is conditional at the closing mid-market
     price of an ordinary share exceeding 4.25p ('the threshold price')
     for a consecutive period of 90 days prior to the third anniversary
     of the date of grant. These options may be exercised between three
     and six years after the options were granted.

c    The Exercise of the Option is conditional at the closing mid-market
     price of an ordinary share exceeding 4.75p ('the threshold price')
     for a consecutive period of 90 days prior to the third anniversary
     of the date of grant. These options may be exercised between three
     and six years after the options were granted.




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