Property Purchase-Replacement

Artisan (UK) PLC
31 July 2000


The issuer has advised that the following amendment should be made to the
'Property Purchase' announcement released today at 10.56 under RNS No 7056O.

The conversion price in paragraph 2 should read 16 1/2p per share and not 162p
per share, as previously stated. 

All other details remain unchanged.

The full corrected version is shown below.


Artisan (UK) plc, the AIM listed property development and contracting group,
announces that it has purchased the freehold of 34 Old Queen Street, Mayfair,
for £3,000,000, and two retail investment properties, one in Ripley,
Derbyshire and one in Rawtenstall, Lancashire, for a combined consideration of
£600,000.

The total purchase consideration of the properties has been satisfied from the
part use of  the issue by Artisan (UK) plc of £4,600,000 of 5% Convertible
Loan Notes, repayable 364 days after the date of issue, or convertible into
Artisan (UK) ordinary shares, not sooner than six months after issue, at 
16 1/2p per share.

The recently refurbished property at 34 Old Queen Street, Mayfair, comprising
both prime residential and commercial accommodation, was purchased from
Starmount Limited and is currently let to Jellyworks plc for one year at an
advanced rental of £300,000. 

The retail units in Ripley and Rawtenstall were purchased from Elm
Developments Limited and European Union Properties Limited respectively, and
currently yield  combined  rentals of £56,000 per annum.


Enquiries:

Artisan (UK) plc                                                 01480 436666
Stephen Dean, Chairman                                                 
Chris Musselle, Finance Director

Boswell City Financial PR Limited                               020 7583 2001
Rodney Johnson