Acqn, Placing & EGM

Artisan (UK) PLC 16 February 2000 Artisan (UK) plc ('Artisan' or 'the Company') Proposed Acquisition and Placing and Notice of Extraordinary General Meeting ('EGM') The Placing The Directors of Artisan announce today that the Company plans to raise approximately £2.7 million (prior to expenses) by means of a Placing 16,363,636 new Ordinary Shares at 16.5p per share. The issue has been underwritten by Seymour Pierce Limited. The net proceeds of the Placing, or so much as are required, will be used by the Company as security for the Artisan loan notes to be issued pursuant to the Company's offer for Bickerton Group plc and the balance will be used to strengthen the Company's working capital position. The Acquisition The Company has conditionally agreed to purchase a portfolio of seven investment properties which in aggregate have been independently valued at £9.415 million. The consideration for these properties of £9.75 million is to be satisfied by the issue of 29,300,000 new Ordinary Shares and the payment of £4,915,500 in cash. The cash element of the consideration is to be financed by way of a loan from Baymont Developments Limited. The Directors have agreed to acquire the investment properties with a view to liquidating them to realise cash for the Company to use in developing the existing business or to use for further acquisitions. Extraordinary General Meeting The Extraordinary General Meeting of Shareholders of the Company has been convened to be held at Bridewell House, 9 Bridewell Place, London EC4V 6AW at 11.00 am on 13 March 2000. Application will be made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on the Alternative Investment Market and dealings are expected to commence on 14 March 2000. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company. Copies of the document regarding the Placing and Extraordinary General Meeting have been sent to shareholders and will be available to the public, for a period of 14 days following the date of this announcement, from the offices of Seymour Pierce Limited, 29/30 Cornhill, London EC3V 3NF. For further information, please contact: Artisan (UK) plc 01480 436666 Stephen Dean, Chairman Seymour Pierce Limited 0171 648 8700 Richard Feigen / Jonathan Wright Boswell City Financial PR 0171 583 2001 Glenda Boswell