Trading Statement Correction

Artisan (UK) PLC
18 January 2008


This is an amendment to the announcement issued at 13.22 on 18 January 2008
under RNS number 0990M in which the third line should have read 'six months to
31 December 2007' not '31 December 2008'. The rest of the announcement remains
unchanged.

Please see below the correct version of the announcement.

                                Artisan (UK) plc

                                 Trading Update

Artisan (UK) plc ('Artisan' or 'the Group'), the residential house builder and
commercial business park developer, today issues the following trading update
ahead of the Group's interim results for the six months to 31 December 2007.

Artisan's expectation for the current year has always been weighted towards the
second half, but the first half of the year has proved more challenging than
expected. We are pleased with the performance that Rippon Homes has achieved in
the first half. Whilst sales units in that division are slightly lower than
expected, individual site margins have remained reasonable. However over the
division margins have been impacted by fixed marketing spend levels across the
lower volumes. The Group is confident that these hard won sales have been
achieved as a result of the superior quality of the product offering and the
ability of local management to maintain an effective part exchange programme,
and that they bear comparison with the best of our local competition. Our
underlying belief is that, despite the unfavourable economic conditions and the
challenging markets, consumer demand exists but is currently constrained by
uncertainty and the difficult credit supply conditions of the market.

The commercial business park division's ability to complete deals has been
impacted by the tightening of credit supply. Investors with funding are
reluctant to commit whilst the market is uncertain and the Group has seen
prospective deals fail because of customers losing their funding. Consequently,
whilst there has been good progress with previously contracted sales, new sales
completions have been disappointing, both of stock items and new forward sales.
Once again inherent demand for the product remains but economic conditions are
restricting the current sales opportunities.

Artisan (UK) Properties, the investment division, has made excellent progress
towards delivering the first two investment properties to their occupiers. The
first building occupied by Speymill Group plc and also by Artisan (UK) plc was
completed and occupied in December 2007. The larger building for let to Black
Teknigas is making comfortable progress towards the agreed January completion
date. The economic conditions have also had an impact on this division, and
current property yield rates have moved out and affected the valuation of these
properties. Whilst we have maintained the valuation on one unit the other is
reduced by approximately one quarter percent greater yield percent than
estimated earlier in 2007. We expect there to be at least some compensation in
build cost savings and the overall revaluation surplus not materially changed.

A misplaced attempt to reopen litigation against Artisan was comprehensively
rejected by the High Court. Artisan welcomes this deserved decision by the
court.

The Group has also taken active steps to balance land acquisition against a
reduced sales expectation and a strong cash position is being maintained.
However, due to tighter than anticipated trading conditions for the first half
of the year, Artisan now requires an exceptional performance in the second half
if the Group is to meet market expectations for the year. Whilst feasible, it
will require improved buoyancy in the market. Further interest cuts are needed
to generate market confidence. In the meantime we shall pursue carefully
considered sales strategies appropriate to each site and concentrate on
identifying medium to longer term land opportunities.

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

Brewin Dolphin Securities Limited  Nominated advisers    0845 270 8613
Andrew Kitchingman

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

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




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