Final Results

Artisan (UK) PLC
9 July 2001


                               ARTISAN (UK) plc

                                    (AIM)

               (House builder & commercial property developer)

              PRELIMINARY RESULTS FOR THE YEAR TO 31 MARCH 2001

                                  HIGHLIGHTS

Key points:

  * Group Turnover £81,364,520 up 134% (£34,821,517 for year to 31.3.00)
  * EBITDA £11,622,947 up 166% (£4,363,252 for year to 31.3.00)
  * Total operating profit £10,621,768 up 154% (£4,181,157 for year to 31.3.00)
  * EBITDA Earnings per share 4.4p up 34% (3.3p for year to 31.3.00)
  * Earnings per share 2.6p up 20% (2.2p for year to 31.3.00)
  * Shareholders funds £34,146,473 up 35% (£25,331,903 (restated) at 31.3.00)
  * Net asset value per share 11.9p up 16% (10.2p (restated) per share at       
    31.3.00)
  * Dividend per share 0.6p up 20% (0.5p per share for 31.3.00)
  * Net cash improvement £7,693,279 up 199% (£2,570,423 at 31.3.00)


Commenting on the results, Artisan's Chairman Stephen Dean said:

'The year to 31st March 2001 has been another milestone in the development of
Artisan (UK) plc. The group has now totally disposed of its IT and regional
contracting businesses profitably, and is highly focused on residential and
commercial developments as its core business.'



Enquiries:
Artisan (UK) plc                                 01480 436666
Stephen Dean, Chairman                           Mobile: [phone]
Chris Musselle, Finance Director                 Mobile: [phone]
Seymour Pierce Limited                           020 7648 8700
Sarah Wharry
Cater Barnard (UK) Ltd                           0870 066 0830
Melissa Gilmour


Chairman's Statement

On behalf of your Board I am pleased to announce a further milestone year in
the development of Artisan (UK) plc into a national house builder and
commercial property developer.

As can be seen from the financial highlights your Company has made significant
improvements in its financial standing from turnover through to profits, to
cash and to increased net assets.

The Company made one acquisition in the year, Rippon Homes Limited, based in
Mansfield, Nottinghamshire. This transaction extends our residential and
commercial development activities of the Group throughout Cambridgeshire,
Hertfordshire, Warwickshire, Leicestershire, Lincolnshire and Nottinghamshire.

Since my last annual statement the Company has disposed of its regional
contracting businesses and its investments in property related IT internet
companies, showing profits on these disposals of £1.8 million and £1.43
million respectively. The £1.8 million is not included in these financial
statements as it was not completed until 14th June 2001.

Artisan is now highly focused on house building and commercial property
developments and intends to target the following objectives in this coming
year as suitable opportunities occur.


  * Organic growth by opening branch offices in the south east and locating
    Artisan (Chiltern) Limited in mid-Hertfordshire (formerly the residential
    development arm of Driver Construction).

  * Acquisitions or joint ventures with other house builders.

  * At the Annual General Meeting the Company intends to ask shareholders
    for authority to buy back up to 20% of its shares as opportunities arise.

  * To attract institutional investment interest by seeking admission to the
    Official List (subject to suitability).

The current year has opened well with house buyer and commercial interest
still remaining buoyant across the whole spectrum of the Group's business
activities.

The Company has concluded negotiations with its partners at Living Heritage
Holdings to agree both the equity and option price of the earnout entered into
in 1999. The price agreed is £750,000 for the equity now owned by the Company
(of which £430,000 has already been paid on account), and, should the Company
so decide in the future, the option price for the remaining 50% it does not
already own is fixed at a further £750,000. The price will be satisfied partly
in cash and partly by the issue of up to 1,125,000 Artisan shares for the 50%
currently owned. During the year to March 2001 Living Heritage Holdings made
pre-tax profits of £513,000.

I would like to take this opportunity of thanking the staff and managers of
the Group for their continued support and loyalty and look forward to the
coming year with confidence.



FINANCIAL REVIEW

For the year to 31st March 2001 turnover increased to £81.4m (year to 31st
March 2000 £34.8m) principally as a result of full year contributions from
acquisitions in 2000 and the Rippon Homes acquisition in 2001. This is an
increase of 134% but more importantly Total Operating Profit, has increased by
154% to £10.6m from £4.2m. EBITDA profit has grown at a greater rate with a
166% increase to £11.6m (year to 31st March 2000 £4.4m).



Shortly after the balance sheet date the regional contracting operations were
sold and the scale of the activity of continuing operations is reflected in
the summary of turnover and profit below.

                     DEVELOPMENT       SPECIALIST    CENTRAL AND   TOTAL

                     AND PROPERTY      CONTRACTING   CONSOLIDATION CONTINUING

                                                     ADJUSTMENTS   OPERATIONS


                     £m                £m            £m            £m

Turnover             39.5m             16.3m         1.5m          57.3m
Operating Profit     8.2m              0.6m          1.3m          10.1m


The discontinued operations contributed £24.1m to turnover but only £0.297m to
operating profit.

Share Capital

During this year a total of 39.3 million new shares have been issued at an
average price of 15.3p. Of these shares issued 6.4 million shares related to
acquisitions from previous years, 19.6 million in respect of new investments
and 13.3 million in respect of working capital.

Balance sheet

At the year end the group had net cash balances of £5.38m and bank and other
borrowings of £22.41m representing a gearing ratio of 50% (2000:42%). New debt
funding has principally been incurred to assist with the acquisition of Rippon
Homes Limited.

Dividends

During the course of the year, your board has paid or declared three
dividends. The special dividend, paid by way of Envesta plc shares in specie
was distributed in August 2000. The interim dividend for the current year
provided shareholders with the choice of taking further Envesta plc shares or
a cash alternative. The Envesta plc option was popular with shareholders with
the majority opting for shares rather than the cash alternative. The cash
value of the interim dividend was 0.25p and your board proposes a final
dividend of 0.35p, a cash total of 0.6p which if enhanced by the additional or
alternative Envesta plc shares equates to a total dividend equivalent to
1.42p. The cash dividend is 4.3 times covered by earnings per share of 2.6p.
The final dividend is payable on 2nd October 2001 to shareholders on the
register at 20th July 2001.

Post Balance Sheet

The principal event post balance sheet event is the disposal of the regional
contracting operations. The profit on disposal, net of costs, is £1.8m, which
will be reflected in the 31 March 2002 results. This disposal is a significant
step towards concentrating the group's activities on residential and
commercial property development.

The group has exited its residual investment in Envesta plc since the year end
with an overall profit of £1.97m and has also disposed of the interest in
enterpriseAsia.com plc.



OPERATIONS REVIEW - DEVELOPMENTS



Artisan (UK) Developments

The year to 31 March 2001 was a great success for Artisan's commercial
development operations.

Office and industrial buildings of 63,000ft2 were developed and sold on the
Minerva and Colmworth Business Parks, with a further 41,000 ft2 under
construction at the year-end.

Clarendon Road, Watford, the 24,000ft2 office development, pre-sold to Lattice
Group Pension Fund, was completed in early 2001/02, and the Cardinal Business
Park Development, pre-sold to Scottish Widows in the previous year, was
completed on programme.

In November 2000 the company purchased a site for 60,000ft2 of offices in St
Albans, and total space in development and awaiting development at 31st March
2001 was in excess of 300,000ft2.

On top of this development building activity a substantial profit contribution
was made from land sales at Welwyn Garden City, Potters Bar, London Colney and
Harpenden.



Rippon Homes

In December 2000 your Company purchased for £9.895 million the entire share
capital of Rippon Homes Ltd, a Nottinghamshire based housebuilder that had
been producing approximately one hundred homes a year and with a land bank of
over three hundred units. The non-core joinery business was sold for a small
profit. In the fourteen months ended 31st March 2001, the Company sold a total
of one hundred and seven houses at an average price of £118,000. Planned
production of homes has been increased to one hundred and twenty units for
2001/02.



Artisan Property Holdings

During the year Artisan Property Holdings purchased offices for resale in
Central London for £3million plus two small provincial retail investments, and
sold an industrial estate in London for £5.125 million and three commercial
properties in Newcastle for £3.1million at satisfactory margins.

Net rental income was £998,000 for the year, which substantially exceeded the
interest on the mortgages raised to fund the portfolio. However, the Directors
have confirmed their commitment to a policy of gradual realisation with the
sale of the London offices and offices in St Albans for a combined £4.55
million, after the year-end.



Living Heritage

Artisan retained its 50% interest in Living Heritage Holdings Limited
throughout the year and provided project finance in return for fee earnings to
directly finance its development programme.

During the year, Living Heritage sold twenty four units and purchased land for
a further fifty two units on new sites in Birkdale, Cricklade and Tring, to
add to those in Warwick, Putteridge Bury, Brackley, Codicote and Haywards
Heath which were purchased in the previous year and developed during the
twelve months under review to provide stock for sale in the current year.



OPERATIONS REVIEW - CONTRACTING

The last twelve months have been a busy period for the Contracting Division
culminating in the disposal of Bickerton Construction and Driver Construction.
Our efforts will now be concentrated in the specialist contracting with
Speymill Contracts Limited in the leisure sector.

Speymill Contracts Limited

Speymill continued to expand its operation with turnover up 29% to £
16.3million. The turnover for the Leeds office was £4.6million which is in
line with last years' expectations and your Board see this as an area that
will continue to expand as this regional office establishes itself in the
North of England. Profits are up some 61% to £690,000.

In addition, the leisure industry continues to see changes with mergers and
acquisitions which suggests continued growth within this sector. The core
business of Speymill Contracts remains bars, public houses, restaurants,
nightclubs and hotels, and covers all aspects of construction, whether it is
refurbishments, fit out of contractors' shells or new build projects.

Speymill continues to develop and maintain relationships with its clients with
a higher percentage of repeat business.

Regular clients include the Old Monk Pub Company with Springbok concepts at
Cardiff and Newquay, and several of the pub refurbishments; Yates' Wine
Lodges, with their lodges at Weymouth, Woking, Margate and their flagship at
Leicester Square; SFI with their Litten Tree, Bar Med and Havana concepts at
Dudley, Birmingham, Altringham, Liverpool, Leeds, Macclesfield, Redditch and
also their For Your Eyes Only club in Mayfair, London. Additionally,
substantial projects have been carried out for Scottish and Newcastle. Two
projects currently on site are a £1.8million new build, 83 bedroom Premier
Lodge at Crawley and the recently completed 100 bedroom fit-out at Dover.

Speymill also continue to carry out regular work for Pizza Express, Eldridge
Pope Charles Wells, and have recently added Regent Inns with their Walkabout
concept at Bristol and award winning Walkabout Jongeulers Comedy Club at
Glasgow.

Speymill Contracts is ideally suited both geographically and operationally to
continue with its success in this sector.



STEPHEN DEAN

Chairman

9th July 2001



ARTISAN (UK) PLC

GROUP PROFIT & LOSS ACCOUNT

For The Year Ended 31 March 2001
                                                               31 Mar   31 Mar
                                                                2001     2000
                                                                          As
                                                                       restated
TURNOVER                                                      £           £
Continuing operations - existing                        55,175,066   29,254,320
Acquisitions                                             2,084,838            -
                                                        __________   __________
                                                        57,259,904   29,254,320
Discontinued activities                                 24,104,616    5,567,197
                                                        __________   __________
Group Turnover                                          81,364,520   34,821,517
Group's share of associate's turnover - all             (3,287,934)  (4,938,078)
continuing
                                                        __________  ___________
                                                        78,076,586   29,883,439
COST OF SALES                                          (61,981,183) (22,774,159)
                                                        __________  ___________
GROSS PROFIT                                            16,095,403    7,109,280
Administrative expenses                                 (7,224,929)  (3,409,630)
Other operating income                                   1,540,824       44,174
                                                        __________  ___________
GROUP OPERATING PROFIT                                  10,411,298    3,743,824

Continuing operations - existing                         9,898,791    3,605,483
Acquisitions                                               215,416            -
                                                        __________  ___________
                                                        10,114,207    3,605,483
Discontinued activities                                    297,091      138,341
                                                        __________  ___________
Group's share of operating profit of associate             256,500      467,246
Amortisation of goodwill arising on acquisition            (46,030)     (29,913)
of associate
                                                        __________  ___________
TOTAL OPERATING PROFIT                                  10,621,768    4,181,157

EBITDA
Depreciation of tangible assets                           (344,479)    (121,870)
Amortisation of goodwill                                  (656,700)     (60,225)
                                                        __________   __________
Earnings before interest, tax, depreciation,            11,622,947    4,363,252
amortisation and exceptional items
                                                        __________   __________
Profit on disposal of fixed asset                          287,277          754
Profit on sale of group undertaking                              -      104,957
Interest receivable & similar income                       712,367      245,939
Interest payable                                        (1,711,977)    (401,211)
                                                        __________  ___________
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION            9,909,435    4,131,596
TAXATION                                                (3,060,172)  (1,264,313)
                                                        __________  ___________
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION             6,849,263    2,867,283
Dividends                                               (3,916,440)  (1,066,485)
                                                        __________  ___________
RETAINED FOR THE YEAR                                    2,932,823    1,800,798
                                                        __________  ___________

Basic Earnings per share                                     2.59p        2.16p
Diluted earnings per share                                   2.58p        2.13p
EBITDA Earnings per share                                    4.39p        3.28p



ARTISAN (UK) PLC

GROUP BALANCE SHEET

As At 31 March 2001
                                                     31 Mar 2001   31 Mar 2000
                                                          £             £
                                                                   As restated
FIXED ASSETS
Intangible fixed assets                                14,110,245    10,350,224
Tangible fixed assets                                   2,433,528     2,201,466
Investment in associates                                1,269,245       804,246
                                                        _________     _________
                                                       17,813,018    13,355,936
                                                        _________     _________
CURRENT ASSETS
Investments                                             4,157,109       622,865
Stocks & work in progress                              27,385,667    24,162,108
Debtors                                                23,868,248    14,132,828
Cash at bank & in hand                                 10,941,478     3,248,199
                                                        _________     _________
                                                       66,352,502    42,166,000
CREDITORS: Amounts falling due within one year       (40,952,479)  (27,571,695)
                                                        _________     _________
NET CURRENT ASSETS                                     25,400,023    14,594,305
                                                        _________     _________

TOTAL ASSETS LESS CURRENT LIABILITIES                  43,213,041    27,950,241

CREDITORS: Amounts falling due after more             (9,066,568)   (2,488,394)

than one year
Minority interests                                              -     (129,944)
                                                        _________     _________
NET ASSETS                                             34,146,473    25,331,903
                                                        _________     _________
CAPITAL & RESERVES
Called up share capital (all equity)                    1,436,064     1,239,606
Share premium account                                  18,428,211    13,391,027
Merger reserve                                          9,358,749     8,710,644
Profit & loss account                                   4,923,449     1,990,626
                                                        _________     _________
EQUITY SHAREHOLDERS' FUNDS                             34,146,473    25,331,903
                                                        _________     _________




ARTISAN (UK) PLC

GROUP CASH FLOW STATEMENT

For The Year Ended 31 March 2001
                                                       31 Mar 2001 31 Mar 2000

                                                            £           £
NET CASH INFLOW/(OUTFLOW) FROM                           5,791,772 (6,650,535)

OPERATING ACTIVITIES
RETURNS ON INVESTMENTS &

SERVICING OF FINANCE
     Interest received                                     712,367     245,939
     Interest paid                                     (1,711,977)   (401,211)
                                                          ________    ________
NET CASH (OUTFLOW) FROM RETURNS

ON INVESTMENTS & SERVICING OF                            (999,610)   (155,272)

FINANCE
TAXATION
UK Corporation tax paid                                (1,006,686)   (484,167)
CAPITAL EXPENDITURE & FINANCIAL INVESTMENT
Sale of tangible fixed assets                            1,006,741     110,621
Purchase of tangible fixed assets                        (676,024)   (195,134)
                                                          ________  __________
NET CASH INFLOW/(OUTFLOW) FROM                             330,717    (84,513)

INVESTING ACTIVITIES
ACQUISITIONS & DISPOSALS
Disposal of subsidiary undertaking                               -     348,827
Purchase of subsidiary undertakings                    (11,847,585) (3,058,818)
Net cash acquired with subsidiary undertaking                    -     310,677
Purchase of share in associate                           (156,479)   (511,790)
                                                          ________  __________
NET CASH (OUTFLOW) FROM ACQUISITIONS & DISPOSALS       (12,004,064) (2,911,104)

EQUITY DIVIDENDS PAID                                  (1,061,801)   (574,895)
                                                          ________  __________
NET CASH OUTFLOW BEFORE FINANCING                      (8,949,672) (10,860,486)
                                                          ________  __________
FINANCING
Issue of shares                                          2,124,532  14,262,688
Cost of share issues                                     (127,151)   (434,429)
Additions to borrowing                                  14,496,165   4,848,797
Debt acquired with subsidiary undertakings                       - (5,212,701)
Capital element of finance leases                          149,405    (33,446)
                                                         _________   _________
NET CASH INFLOW FROM FINANCING                          16,642,951  13,430,909
                                                         _________   _________

INCREASE IN CASH                                         7,693,279   2,570,423
                                                         _________   _________

Notes


            1     PRIOR YEAR ADJUSTMENT

            The directors now consider that it was inappropriate, in the
            accounts for the year ended 31 March 2000, to write off the
            goodwill of £7,397,097 arising on the acquisition of Bickerton
            Group plc and Investment in Heritage to the merger reserve arising
            in respect of that acquisition. The directors believe that their
            stated policy in respect of goodwill should have applied, and
            accordingly have now restated the accounts so as to capitalise
            this goodwill with effect from the effective date of acquisition
            of 31 March 2000 and amortise it over their estimate of its useful
            life of 20 years. The effect of this restatement is to increase
            net assets and shareholders' funds at 31 March 2000 by £7,397,097.
            The restatement has no effect on the results for the year then
            ended.

            2     EARNINGS PER SHARE

            The basic earnings per share are calculated by dividing the profit
            for the financial year attributable to shareholders by the
            weighted average number of shares in issue. In calculating the
            diluted earnings per share, share options outstanding have been
            taken into account. The EBITDA earnings per share were calculated
            using earnings before interest, taxation, depreciation, and
            amortisation.

            The weighted average number of shares were


                                                           31 Mar        31 Mar
                                                            2001          2000

                                                           Number       Number
      
      Basic weighted average number of shares         264,919,700  133,022,474

      Dilutive potential ordinary shares:
      Employee share options                              999,338    1,317,622
                                                                                
                                                      ___________  ___________

                                                      265,919,038  134,340,096
                                                      ___________  ___________


            2     The financial information set out in this document does not
            constitute statutory group accounts.

            3     The report and accounts and accounts for the year to 31
            March 2001 will be posted to shareholders shortly and, after being
            laid before the Annual General Meeting, will be delivered to the
            Registrar of Companies.

            4     The Annual General Meeting will be held at Founders Hall, 1
            Cloth Fair, London, EC1A 7HT at 11.30am on 4 September 2001.

Copies of this announcement will be available to the public, free of charge,
from the office of Seymour Pierce Ltd., 29/30 Cornhill, London, EC3V 3NF
during normal office hours, with the exception of Saturdays, Sundays and bank
holidays, for 14 days from today.

Enquiries:
Artisan (UK) plc                                 01480 436666
Stephen Dean, Chairman                           Mobile: [phone]
Chris Musselle, Finance Director                 Mobile: [phone]
Seymour Pierce Limited                           020 7648 8700
Sarah Wharry
Cater Barnard (UK) Ltd                           0870 066 0830
Melissa Gilmour