Disposal

Artisan (UK) PLC 27 June 2001 Artisan (UK) plc Disposal of EnterpriseAsia Stake. The Board of Artisan (UK) plc ('Artisan') the AIM quoted house builder and property developer, announces that the Company has today sold the last of its technology and internet related investments, enterpriseAsia.com plc for a total consideration of £3.24 million. Artisan has sold its 28.1% stake in enterpriseAsia.com plc to Nasdaq quoted Stratus Services Group Inc for £3.24 million payable in convertible redeemable loan notes which carry a coupon of 7% per annum. This disposal brings to a conclusion the technology investments of Artisan following the disposal of the investment in CPD Online to Envesta plc in July 2000 and the recent sale of Artisan's remaining holding in Envesta plc. Stephen Dean, Chairman of Artisan said 'The disposal of Artisan's investment in enterpriseAsia is another positive move forward in focusing the company on its core business of house-building and property development.' In aggregate, Artisan made a net profit on the disposal of its technology investments of some £1.35 million which will be included in the Company's results to 31 March 2001.
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