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