FIRST ARTIST CORPORATION PLC

8th September 2006

EARN-OUT PAYMENT AND REVIEW ON SUMMER TRADING WINDOW

  * Wealth Management Division successfully achieves first tranche of earn-out
   
  * Player Representation Division experiences significant activity in Summer
    Trading Window
   
First Artist Corporation plc (AIM:FAN), the acquisitive sports and
entertainment group, is pleased to announce that its recently acquired
financial management business, ABG Financial Management Limited ("ABGFM"), has
exceeded its first financial performance targets under the terms of the
acquisition announced on 22nd July 2005.

ABGFM has achieved a like for like, 91% increase in operating profit for the
year ended 30th June 2006, of �842,687. The increase resulted from organic
growth within the business, the benefits of integration within the First Artist
Corporation group of companies, and "A Day" reforms to UK pension law.

As a result of the agreed performance targets being exceeded, the first tranche
of earn-out consideration has become payable to the sellers of ABGFM ("ABGFM
Sellers"). This consideration is to be satisfied by (in aggregate):

  * the payment by the Company to the ABGFM Sellers of �450,000 in cash;
   
  * the allotment by the Company to the ABGFM Sellers of 5,210,388 new ordinary
    shares of 0.25 pence each in the capital of the Company ("New Ordinary
    Shares") on the basis of an average mid-market price of 6.78 pence per New
    Ordinary Share.
   
Application has therefore been made for the admission of the New Ordinary
Shares to trading on the AIM market of the London Stock Exchange. Upon issue,
the New Ordinary Shares will rank pari passu with the Company's existing
Ordinary Shares. It is expected that admission will become effective and that
dealings in the New Ordinary Shares will commence on Thursday 14th September
2006 ("Admission"). Following Admission, the Company will have in issue an
aggregate of 113,189,048 Ordinary Shares.

Jon Smith, Chief Executive of First Artist Corporation plc, said:

"ABGFM has proven to be a terrific acquisition. Its performance has been
excellent and integration into the rest of the group has been fantastic, with
the company benefiting from access to some of the leading names in sport.

We are also particularly delighted that one of our most recent acquisitions,
Proactive Scandinavia, now renamed First Artist Scandinavia, has experienced
its best summer trading window ever, having been involved in a string of deals
including Thomas Gravesen's transfer to Celtic. Through this latest
acquisition, we now have a strong presence within all the major European
football markets"

During this summer's football trading window, First Artist's Player
Representation Division has been involved in numerous deals including
Jean-Alain Boumsong to Juventus, Kevin Phillips to West Bromwich Albion,
Christian Abbiatti to Turin, Hatem Trabelsi to Manchester City and Jonathan
Woodgate to Middlesbrough - as well as the renegotiation of World Cup winner
Marco Materazzi's contract with Inter Milan. 

For further information please contact:

First Artist Corporation plc 020 8900 1818

Jon Smith, Chief Executive

Richard Hughes, Finance Director

Arbuthnot Securities 020 7012 2000

Tom Griffiths/Andrew Fullerton

gth media relations

Toby Hall/Jade Mamarbachi 020 7153 8039/8035
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