Disposal

Artisan (UK) PLC
2 April 2002


                                Artisan (UK) plc

                    Disposal of Investment Property Division

The Board of Artisan is pleased to announce that on 28 March 2002, they signed a
conditional agreement for the sale of the Group's investment property division,
Artisan (UK) Properties Ltd. The consideration for the sale is £250,000 to be
satisfied in cash. Since the 30 September 2001, Artisan (UK) Properties Ltd will
have repaid £6,440,953 of inter-company debt to Artisan (UK) plc. £549,000 of
debt will remain outstanding to Artisan (UK) plc secured upon the properties
held in Artisan (UK) Properties Ltd.


Artisan (UK) Properties had an asset value of £218,333 as at 30 September 2001
and made a profit before tax of £318,926 in the year to 31 March 2001.


Following the sale of Artisan (UK) Properties Ltd, Artisan (UK) plc will have
disposed of all of its investment properties and will now continue to focus
solely on property development.


The proceeds of the sale will be used as additional working capital for the
Group.


                      This information is provided by RNS
            The company news service from the London Stock Exchange