Interim Results - 6 Months to 30 September 1999

Artisan (UK) PLC
11 November 1999

                                ARTISAN (UK) PLC
                                       AIM
                                        
                  (Commercial and Leisure Industry Contractor)
                                        
                   PRELIMINARY RESULTS FOR THE 6 MONTH PERIOD
                                       TO
                             30 SEPTEMBER 1999-11-10


KEY POINTS:

Turnover increased to £15.48m       (10.46)                      UP    46%

Pre-tax profit increased to £2.081m     (0.673)                       UP  226%

EPS at 30.0.99      1.6p

DIVIDEND   0.20p per share

Commenting on the results, Stephen Dean said  'I am extremely pleased  with 
the progress  the group has made in terms of organic growth, although  this  is 
not reflected  in the market perception of the construction industry.  We are 
based in  an  area  that  is  experiencing a strong demand  for  housing  as 
well as industrial developments and I see no reason why this should not continue
through 2000'.

                                        
Enquiries:

Artisan (UK) plc                             01480 436666
Stephen Dean, Chairman        Mobile         [phone]

Seymour Pierce Ltd.                          0171 648 8700
Richard Feigen/Sarah Wharry

Boswell City Financial PR Ltd.               0171 583 2001
Glenda Boswell                Mobile         [phone]


                                                                                
                                        
                                ARTISAN (UK) Plc

                                INTERIM STATEMENT


The  period  under  review  has  seen significant  development  of  our 
trading subsidiaries  both  organically and by acquisition with the addition  of
Joseph Driver Building Limited and a 50% stake in Living Heritage Holdings
Limited, to the Group.

The Group trading has continued to expand with turnover up 48% and profit
before tax 226%.  At the period end the Group had net cash balances of
1,895,934.  Also at  the  period  end the Group had Bank and short-term
borrowings of 1,978,781, representing a gearing ratio of 12.2% reduced from 
63% at the year end.

The  Open  Offer  announced in July 1999 was well supported by shareholders 
and resulted  in  55,844,877 shares being placed at 6p representing  a  take  up
of 73.38%.

The  Board intends to pay an interim dividend of 0.20p per share.  The 
dividend will  be  paid  on 29 February 2000 to all shareholders on the 
register at 26 November 1999.


SPEYMILL CONTRACTS LIMITED:
The  first six months has seen a continuation of the good results achieved 
last year.   In keeping with its strategy to increase its client base
geographically, Speymill have opened a new regional office in Leeds sourcing
work in and around northern England.

The  leisure  industry is buoyant and despite changes within the industry, 
most notably Allied Domecq, Greenalls and Greene King. These changes
particularly in respect  of  Allied  Domecq , will  bring about substantial work
in re-branding public houses.

Speymill have continued to provide clients with a quality product on time and
to the  required standards which has continued to enhance relationships with
repeat business.

Most  notably  this  is with the Old Monk Pub Company where  we  have 
completed projects at Horseferry Road and Middlesex Street in London, Rotherham,
Leeds and a  new  concept, Springbok Bar also at Leeds.  Yates's Wine Lodge
continue to provide Speymill with repeat business with three projects on site at
the moment in Aylesbury, Grantham and Harlow.

Speymill  also continues to work with national breweries and currently  has 
two large  Rat  and Parrot concepts for Scottish and Newcastle at Milton Keynes 
and Cambridge. Additionally Speymill completed the new Edwards concept  for Bass
at Romford, as well as continuing  to work with Charles Wells, Pizza Express and
De Vere Hotels.

New  clients  for  Speymill  include Luminar Leisure, following  the 
successful completion  of the Chicago Rock Cafe at Maidstone. The refurbishment
of Legends Nightclub,  Mayfair  and  a new members only club, Abigail's  Party,
both for Perthshire Leisure Plc. together with two Bar Med projects for Surrey
Free Inns at Manchester and Liverpool, are additions to Speymill's clients.


BERNARD WARD LIMITED:
The  first  six  months  have seen the continued development  and  expansion 
of Bernard Ward with turnover up to £1.9 million for the six months.  Part of 
this continued  development is increasing the client awareness of the  projects 
that Bernard  Ward are capable of undertaking up to a value of £1.5 million. 
Bernard Ward  continues  to  carry  out the all-important  small  jobs  and  is 
equally comfortable  carrying  out jobs to the value of £20,000  and  applies 
the same management  expertise.   Bernard  Ward  continues  to  operate  in  and
around Peterborough  but  its  planned  expansion  will  target  works  in  and
around Cambridge.   Bernard Ward maintains a wide and varied workload including 
a new extension   to  Milton  Golf  Club,  classroom  extensions  to Wistow 
School, alterations at Oundle School, extension at Deacon School Peterborough
and works at  Comberton Village College.  This  workload includes a new office 
block for Camrascan,  six  new  build  flats at St Neots and  an  industrial 
building at Whittlesey.

Being  on  approved  lists  for Peterborough City Council,  Lincolnshire 
County Council, Cambridgeshire County Council, Northants County Council as well
as the National  Health  Trust and other authorities within the  region, 
Bernard Ward continues to have numerous opportunities for work.  This division 
will continue with  its  planned expansion as well as maintaining its
longstanding reputation for providing quality products on time to the desired
standard.


JOSEPH DRIVER BUILDING LIMITED:
Artisan  acquired an 84% holding in  Joseph Driver Building Limited  in  
August 1999  and  the company  exercised its option on 27 October 1999 to 
acquire the remaining  16%.   The  business was formed some  40  years  ago  as
a regional contractor  based  in Tring, Hertfordshire and the acquisition
further endorses the  Boards'  strategy  of  building a regional  network  of 
both  general and specialist contractors.

Established  in 1966, Joseph Driver Building Limited carry out a broad 
spectrum of  building  works  ranging from projects with local authorities  for 
schools, N.H.S.  Trusts,  residential works for housing associations and private
clients and their own residential developments.

The  versatility of Joseph Driver Building Limited includes working on 
projects ranging from £150,000 to £2.5 million with refurbishments/conversions,
new build or design and build.

Currently,  Joseph Driver Building Limited are working on a variety of projects
which include:

1.   New classroom block at Letchworth for Hertfordshire County Council.
2.   Design and build thirty-six houses at Hemel Hempstead.
3.   New build seven house development in Rickmansworth.
4.   Conversion at Coppersworth Hospital for N.H.S. Trust.
5.   Six house residential development in Northamptonshire.

Joseph  Driver  Building  Limited have a wealth of  experience  and  it  is 
the intention to build on this expertise, to move the company forward, to build
from this sound base.


DEAN COMMERCIAL DEVELOPMENTS/DEAN HOMES LIMITED:
The  emphasis  on  the company's development programme has concentrated  on 
its three  commercial  business parks in St Neots, Godmanchester  and 
Peterborough, Cambridgeshire.   During the period the company sold its entire 
long leasehold interest in Cardinal Park, Godmanchester to Guardian Properties,
a subsidiary of Guardian Assurance and also entered a build contract and profit
share agreement.

The anticipated reversionary value of the scheme is £5.47m with a yield of 8%
in which Dean Commercial has a 40% share.

Five  of the twelve distribution units on the site are complete with the
balance due  for  completion in the latter part of this financial year  and 
early next financial year.

The company has under construction a bespoke electronics factory on the St
Neots Park for Prosol Electronics which is due to be completed by mid December.

Several  speculative units and the entire road and services  infrastructure 
are under  construction, and enquiries for both leasehold and freehold  interest
on the site remain at an encouraging level.

The  company  has  currently  three  residential  sites  under  construction 
in association  with other developers and has three sites on its own account.  
All the  sites  concentrate on the Cambridgeshire area, along the M11,  A14  and
A1 corridor where housing demand remains very strong.

Substantial  investment  has been made by Dean Homes Limited  as  joint 
venture partner  to  Living  Heritage Holdings Limited in its developments  in 
Haywards Heath, Warwick, Camptonbury and Shenley.


LIVING HERITAGE HOLDINGS LIMITED:
In  July  this  year  Artisan (UK) Plc acquired a 50% stake in  Living 
Heritage Holdings Limited.  Under the terms of the transaction, Artisan (UK) Plc
 has an option  over the remaining 50% equity interest and also a priority
profit share in the profit of Living Heritage Holdings Limited.

The  company has made a 1st stage payment of £300,000, together with  a 
working capital  loan  of  £850,000,  repayable  in  part  by  next  March.  
The full consideration is payable in three years' time dependent upon the
annualised post tax profits for the 27 months to 31 March 2002.

Living Heritage mainly operates in the northern Home Counties of Hertfordshsire,
Buckinghamshire  and  Bedfordshire.  Primarily  its  developments are historic
buildings and outbuildings (barns).  Additionally it seeks to exploit the market
by  obtaining  planning permission to develop the grounds  with sympathetically
designed residences.  Living Heritage Holdings Limited currently has five sites
under   construction  in  Haywards  Heath,  Warwick,  Redbourne, Shenley and
Camptonbury.

Based in Malvern, Worcestershire the business is well placed to expend the 
mid-western side of the country in Gloucestershire, Oxfordshire and
Warwickshire.

CURRENT PROSPECTS:
Artisan's   construction  industry  activities  are  currently   buoyant,  
with development  books  and  enquires  at good levels  throughout  the  Group. 

The residential  and commercial businesses are also experiencing strong demand 
and, subject  to  any radical change in interest rates, appear to be  on  course
for continued activity through 2000.

The Company has recently agreed to acquire two property investment  businesses
mainly  for  shares and once the properties are sold will substantially enhance
the  Company's balance sheet and working capital surpluses.  The likely increase
in  shareholder  funds and eventually cash is expected to be  in  the  order of
£2,100,000.  Both share placings will be done at levels substantially above the
July open offer price and reflect the current share price.

The  Board  remains  confident  that  the  current  trading  prospects  for 
its subsidiaries remains good.


FUTURE STRATEGY:
Your  Board continues to explore opportunities of increasing shareholder 
value, either by merger, or acquisition within the Group's current business
sector.

Notwithstanding  the recent share price movements, your Board  continues  to 
be concerned  that  along  with  other smaller quoted construction  companies, 
the investment markets rating of your businesses remains low.

It  has,  therefore, decided to evaluate other more highly rated market
sectors, which  may provide better returns for shareholders.  No firm decision 
would be taken without the prior approval of shareholders.

Following a reduction  in the shareholding of Rosenoble  Limited, Mr Graham
Robeson  will retire as non-executive director, as at 9 November 1999. The
board will be seeking a suitable replacement to join the Board when appropriate.

Finally,  I  take  this opportunity to thank the management  and  staff  of 
the Company for their commitment and continuing loyal support.

In conclusion, your Board believes that a satisfactory year is in prospect.


CONSOLIDATED PROFIT AND LOSS ACCOUNT



                              Six months     Six months       Fifteen
                                   ended          ended        months
                            30 September             30         ended
                                    1999      September      31 March
                             (Unaudited)           1998          1999
                                            (Unaudited)     (Audited)
                                                               
                                                                     
Turnover                                                             
Existing operations           14,215,261     10,455,605    27,160,625
Acquisitions                   1,260,559              -     1,188,095
                              15,475,820     10,455,605    28,348,720
                                                                     
Operating profit                                                     
Existing operations            1,697,845        672,666     1,456,456
Acquisitions                     131,312              -        18,265
                               1,829,157        672,666     1,474,721
                                                                     
Other income                     292,899              -             -
                                                                     
Interest                         (41,277)       (34,103)     (100,890)
                                                                     
Profit on ordinary             2,080,779        638,563     1,373,831
activities before
taxation
                                                                     
Taxation                        (644,172)      (197,955)     (459,031)
                                                                     
Profit on ordinary             1,436,607        440,608       914,800
activities after taxation
Dividends                       (283,261)             -      (991,213)
                                                                     
Retained profit                1,153,346        440,608        76,413
                                                                     
Earnings per share                 1.57p                         1.30
                                                                     
       Fully diluted               1.53p                         1.27
                                                                     
Dividend per share                 0.20p                             

CONSOLIDATED BALANCE SHEET



                                   As at          As at         As at
                            30 September             30      31 March
                                    1999      September          1999
                             (Unaudited)           1998     (Audited)
                                            (Unaudited)        
                                                                     
Fixed assets                                                         
Tangible fixed assets            888,339        140,410       338,953
Intangible fixed assets        1,309,174         12,000       117,358
                               2,197,513        152,410       456,311
                                                                     
Current assets                                                       
Investments                      226,875              -       411,634
Stocks                         6,512,035      2,113,644     2,928,893
Debtors                        7,780,483      4,283,247     5,432,798
Cash at bank and in hand       1,188,834              -       677,776
                              15,708,227      6,396,891     9,451,101
                                                                     
Creditors                                                            
Amounts falling due           (8,610,607)    (4,861,315)   (6,177,816)
within one year                                                     
                                                                     
Net current assets             7,097,620      1,535,576     3,273,285
                                                                     
Total assets less current      9,295,133      1,687,986     3,729,596
liabilities
                                                                     
Creditors                                                            
Amounts falling due after      2,801,901        776,811     1,906,837
more than one year
                                                                     
Net Assets                     6,493,232        911,175     1,822,759
                                                                     
Capital reserves                                                     
Called up share capital          704,753        346,619       379,119
Share premium account          3,418,178              -       219,685
Other reserves                 1,027,127      (146,519)     1,034,127
Profit and loss account        1,343,174        711,075       189,828
                                                                     
Equity shareholders funds      6,493,232        911,175     1,822,759

CONSOLIDATED CASH FLOW



                                     Six months       Fifteen
                                          ended        months
                                             30         ended
                                      September      31 March
                                           1999          1998
                                     (Unaudited)     (Audited)
                                              
                                                             
Net cash (outflow) from operating    (2,363,336)     (339,687)
activities                                    
                                                             
Returns on investments and                                   
servicing
Other income                            292,899       124,260
Interest paid                           (41,277)     (225,150)
Net cash inflow (outflow) from                               
returns on
investments and servicing of            251,622      (100,890)
finance
                                                             
Taxation                                                     
UK Corporation tax paid                 (65,135)     (431,341)
                                                             
Capital expenditure and financial                            
investment
Sale of tangible fixed assets                 -       136,170
Purchase of tangible fixed assets       (98,652)     (172,457)
Net cash (outflow) from investing       (98,652)      (36,287)
activities
                                                             
Acquisitions and disposals                                   
Purchase of subsidiary undertakings   1,578,789      (248,870)
Cash acquired with subsidiary          (146,694)      175,391
undertaking
Net cash (outflow) from              (1,432,095)      (73,479)
Acquisitions and disposals                    
                                                             
Equity dividends paid                  (291,633)   (1,299,580)
                                                           
Net cash inflow/(outflow) before     (3,999,229)   (2,281,264)
financing                                    
                                                             
Financing                                                    
Issue of shares net of costs          3,524,127     1,432,831
Additions to borrowing                  900,000     1,000,000
Capital element of finance leases        86,160       (83,964)
Net cash inflow from financing        4,510,287     2,348,867
Increase in cash and cash               511,058        67,603
equivalents

NOTES TO THE STATEMENT OF CASH FLOWS

(a)  Reconciliation of Operating profit to net cash inflow from operating
activities:
                                     Six months       Fifteen
                                          ended        months
                                             30    year ended
                                      September      31 March
                                           1999          1999
                                     (Unaudited)     (Audited)
                                              
Operating profit                      1,829,157     1,474,721
Depreciation                             57,439        65,352
Amortisation of goodwill                 19,612             -
Profit on sale of tangible fixed              -        (6,109)
assets
(Increase) in debtors                 2,531,897     1,848,996
(Increase) in stocks                  2,945,781     1,269,751
Increase in creditors                 1,023,375     1,656,730
Increase in investments                 184,759     (411,634)
                                                             
Net Cash (Increase)/(Outflow) from   (2,363,336)    (339,687)
operating activities                          

(b) Reconciliation of net cash flow to movement in net debt:
                                     Six months       Fifteen
                                          ended        months
                                             30    year ended
                                      September      31 March
                                           1999          1999
                                     (Unaudited)     (Audited)
                                              
Increase/(decrease) in cash             511,058        67,603
Cash inflow from increase in debt      (986,160)   (1,095,434)
and lease financing                                        
Change in net debt resulting from     (475,102)    (1,027,831)
cash flows                                                 
                                                             
Opening net (debt)/funds              (474,716)       553,115
                                                             
Closing net (debt)                    (949,818)      (474,716)

(c) Analysis of net cash and debt:
                                 At        Cash            At
                           31 March        Flow            30
                               1999                 September
                                                         1999
NET CASH                     £            £            £
                                                             
Cash at bank                677,776     511,058     1,188,834
                                                             
DEBT                                                         
Finance leases             (152,492)    (86,160)     (238,652)
Debt due within one        (139,875)    (60,125)     (200,000)
year
Debt due after more        (860,125)   (839,875)   (1,700,000)
than one year                                
Net (debt)                 (474,716)   (475,102)     (949,818)
                                           
                                                             
                                                             
                                                             
NOTES TO THE INTERIM STATEMENT

1.   The interim financial information has been prepared on the basis of the
     accounting policies set out in the Group's 1999 statutory accounts to
     31 March 1999, including the adoption of merger accounting principles in   
    respect of Dean Homes Limited and Speymill Contracts Limited in accordance  
   with FRS6 accounting.
     The comparisons for the six months to 30 September 1998 have been prepared 
    on a proforma basis.  The interim figures have not been audited.  The
     interim financial statement does not constitute statutory accounts within  
    the meaning of Section 240 of the Companies Act 1985 (The 'Act').
     Comparative financial information for the 15 months ended 31 March 1999
     has been extracted from the statutory accounts for the period which
     have been delivered to the registrar of Companies and upon which the
     auditors gave an unqualified report, with no statement under Section       
    237(2) or (3) of the Act.

2.   The taxation charge for the 6 months has been calculated at an effective
     rate of 31% (1999 33%).

3.   The calculation of earnings per share is based on the profit on ordinary
     activities after taxation and 91,785,354 ordinary shares being the
     weighted average number of shares in issue during the half year.  The      
    weighted average number of shares in issue during the fifteen months ended  
   31 March 1999 was 70,366,647.
     The calculation of fully diluted earnings per share is based on the
     profit on ordinary activities after taxation and 93,965,354 ordinary
     shares being the weighted average number of shares in issue during the
     half-year, after allowing for share options.

4.   The Directors have declared an interim dividend of 0.20p per share to
     shareholders on the register at the close of business on 26th November
     1999 which will be paid on 29th February 2000.
       
5.   The interim statement was approved by the board of Directors on 11
     November 1999.  Copies of this statement will be available to members of   
    the public, free of charge, from the Company's registered office, Dean      
   House, The Anderson Centre, Spitfire Close, Ermine Business Park,            
  Huntingdon, Cambridgeshire, PE18 6XY.