Recent Share Price Movement

Artisan (UK) PLC
23 February 2001

                               ARTISAN (UK) PLC

                   RECENT SHARE ISSUES Share Price Movement


The Board of Artisan (UK) plc today issues the following announcement in
response to the recent falls in its share price of some 27% over the past
twenty one days.


The Board is not aware, having duly considered the current trading of the
group, of any circumstances which would lead to the fall in its share price
save for market conditions. The Board believes that current trading outcome
for the year ended March 2001 is in line with market expectations.


The Board would further like to comment on recent speculation regarding the
16.3 million shares placed over the past few weeks. It is the Directors view
that this is a very efficient way of providing additional working capital for
its continued expansion of development projects. The cost of funds raised via
a placing is substantially lower compared to a larger pre-emptive issue
requiring circular documentation to shareholders which would cost the company
a higher percentage of funds raised.


The directors expect that the issues will be substantially non dilutive as
they are to fund specific profitable development projects and will therefore
contribute higher EPS relevant to those shares.


Further, the shares have been placed at a smaller discount to mid price than
would be expected in an Open Offer or Rights issue to shareholders.


The Board would further wish to state that its work in progress, and fixed
asset/investment expansion growth is continuing and has increased by over £5
million to 31st December 2000 net of bank loan funding, with further project
investment envisaged. Together with other working capital requirements, this
level of expansion, having considered project finance provided by our Bankers,
cannot be purely sustained by retained annual earnings of some £4/5 million
for 2001 after providing for taxation and dividends.


The Board hopes this information is of assistance.