Investment and Placing

Artisan (UK) PLC 6 March 2001 ARTISAN (UK) plc INVESTS £1million FOR 11.63% STAKE IN AIM NEWCOMER PROPAN HOMES Plc AND RAISES £498,000 WITH SHARE PLACING TO TOP UP CASH REQUIREMENTS FOR CONTINUED EXPANSION Artisan (UK) plc, the AIM-listed property development and construction group, announces that as a placee it has subscribed £1million cash for 7,142,857 ordinary shares in Propan Homes Plc the residential property development company which commenced trading on the Alternative Investment Market today, representing 11.63 per cent. of that company's issued share capital. Artisan (UK) also announces that subsequent to making its investments in Propan Homes, the company has placed 4,150,000 ordinary shares in Artisan (UK) plc at 12p per share in order to raise £498,000 to maintain the levels of cash and working capital required by the company to fulfill its strategy of having sufficient liquid funds available to exploit further such opportunities in the property development and construction sector. Application has been made for the shares to be admitted to trading on the Alternative Investment Market of the London Stock Exchange. Dealings are expected to commence on 9th March 2001. Commenting on the investment in Propan Homes, Mr Stephen Dean, Chairman of Artisan (UK), said 'The focus and size of Propan's housebuilding activities in Kent, East Sussex, Surrey and the M25 ring south of London are particularly complementary to those of Artisan which operates on the same basis to the north of London. 'It was apparent to the Artisan board that Propan Homes would also be enjoying the high demand for such projects being experienced by Artisan and that an initial investment by the Group would be appropriate', said Mr Dean. Enquiries: Artisan (UK) plc 01480 436666 Stephen Dean, Chairman Chris Musselle, Finance Director Boswell City Financial PR Limited 020 7583 2001 Glenda Boswell 07768 235 735 Rodney Johnson