Trading Statement

Artisan (UK) PLC
10 April 2003

                                ARTISAN (UK) plc

                         TRADING STATEMENT - APRIL 2003


Artisan (UK) plc, the residential house and commercial property developer issues
the following trading statement in advance of its preliminary results for the
year ended 31 March 2003, which are scheduled for announcement in July 2003.

The Group expects the Group Operating Profit for the year to 31 March 2003 will
be positive turning around the Operating Loss recorded in the Interim Results
for the six months to 30 September 2002.

However as in the interim statement for 30 September 2002 there will be
significant provisions for non-core and other non- trading items resulting in a
substantial loss on Ordinary Activities before Taxation. The post Operating
Profit provisions include allowances for the termination of contracts with Mr
Stephen Dean, as previously advised in last year's reported Accounts and at the
AGM in September 2002, and for Stratus and Bickerton as referred to in this
statement.

During the year considerable management resource has been devoted to the
disposal of non-core assets and the resolution of old issues, in order that
management may concentrate on the core property activity in the future. As an
integral part of this programme the Group has reduced debt by nearly £12,000,000
in the year to 31 March 2003.

Rippon Homes Limited, Artisan's residential housing division, has continued to
perform strongly. Trading conditions continue to be buoyant and as yet there
have been no signs of any slowdown in activity in the Mansfield and surrounding
area.

Artisan (UK) Developments Limited, the commercial property division, has however
continued to experience the effects of over supply of commercial property in the
Cambridge area and the general uncertainty in trading conditions. The Company is
continuing to adopt a prudent approach limiting the amount of speculative starts
and carefully linking any new build to sales achieved. Despite the problems,
Artisan (UK) Developments has managed to breakeven in the year to 31 March 2003.

The realisation of Living Heritage property stock has continued through the year
with over 50 sold. Artisan regards the early disposal of the residual stock as
important as it will provide further funds for land bank at Rippon Homes.
Accordingly the Board has made additional provisions to encourage early sales.

During the year a loan in default was converted into a new commercial property
in Santa Ponsa, Mallorca. As at the year end, one half of the property had been
sold and conditional contracts entered into for the balance.

Artisan International s.a. has been sold after being established during the
year. The Board has taken the view that expanding in Europe directly through its
own subsidiary would require greater capital than it is prudent to commit at
this time. The terms of the disposal allow for the opportunity to participate in
future developments. The Massy project, previously referred to remains
uncertain. The new owners of Artisan International intend to pursue this
project, for the benefit of both our companies.

Matters with the previous Chairman have been successfully concluded and the
outstanding Cater Barnard plc debt settled, although legal fees were incurred in
the process.

Since the last year end Artisan has become engaged in litigation with
Infiniteland Limited and its guarantor, Mr John Aviss, over matters related to
the disposal of Bickerton Construction Limited. The action concerns Artisan's
claim for payment of deferred consideration and other costs, against which
Infiniteland have alleged breach of warranties and other matters. On the basis
of legal advice to date, Artisan remains confident in its case and the Board has
secured estimates of the costs necessary to further this action to a conclusion.
The Directors consider it prudent they should make a provision in respect of
this dispute at 31 March 2003.

The investment in Stratus Services Group Inc continues to give cause for
concern. The management of Stratus have advised Artisan that they face trading
difficulty and therefore further provision has been made on Artisan's investment
in this company to reduce its carrying value to the equivalent of US$500,000.

As a consequence of the actions taken over the last 12 months, the Group is well
placed to concentrate on its core activities, particularly residential
development, and to respond to changes in market conditions. The Board's
business plan for 2003-2005 indicates the acquisition of other companies able to
contribute to this core activity and especially house building, The Board
intends to take opportunities to place shares both for general funding and to
finance this target acquisition programme.



Artisan (UK) plc

Martyn Freeman - Chief Executive

Chris Musselle - Finance Director        01480 436666


Seymour Pierce

Sarah Wharry                             020 7648 8700


Hansard Communications

Adam Reynolds

Ben Simons                               020 7245 1100



For more information on Artisan (UK) plc, please see the website

www.artisan-plc.co.uk


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