RNS Number:4740N
First Artist Corporation PLC
07 February 2008

Date:              7 February 2008
On behalf of:      First Artist Corporation plc ("First Artist" or "the Group")
Embargoed for:     0700hrs


First Artist Corporation plc

First Earn-Out Payment:

Dewynters Limited


First Artist Corporation plc (AIM: FAN),  the media, entertainment and events
group, is pleased to announce that Dewynters Limited ("Dewynters"), the UK's
leading full-service theatre and entertainment marketing company, has exceeded
the first year performance targets detailed under the terms of the acquisition
agreement dated 29th November 2006, generating earn-out profits of �3,089,845 in
the year ended 31st October 2007.

As a result of the first year earn-out profits, the following consideration is
immediately payable to the Sellers of the company, to be satisfied as follows:


  * A cash entitlement of �1,466,000 in the form of Loan Notes

  * The allotment by the Company to the Dewynters Sellers of 236,379 new
    ordinary shares of 2.5 pence each in the capital of the Company ("New
    Ordinary Shares") at a consideration share price of 73.53 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 12th February 2008 ("Admission").
Following Admission, the Company will have a total issued share capital of
13,739,415 Ordinary Shares.


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

"Dewynters is an excellent addition to the First Artist group. The Dewynters
group, which includes the subsidiaries Newman Displays and Dewynters Advertising
Inc, has proved to be a very profitable, cash generative and earnings enhancing
acquisition for our shareholders. The businesses have integrated well into the
rest of the First Artist group and opportunities are developing for expansion
into new areas."


- ends -



For further information:

First Artist Corporation plc                         tel:  +44 (0)20 7993 0000
Jon Smith, Chief Executive
Richard Hughes, Group Managing Director
Julianne Coutts, Company Secretary

Redleaf Communications
Emma Kane / Samantha Robbins / Sanna Lehtinen        tel:  +44 (0)20 7822 0200

Dawnay, Day Corporate Finance Limited                tel:  +44 (0)20 7509 4570
David Floyd, Nominated Adviser

Daniel Stewart & Company plc                         tel:  +44 (0)20 7776 6550
Katie Shelton






Notes to Editors:

*  First Artist Corporation plc floated on AIM in 2002

*  First Artist's group companies are among the leading brands in their fields 
   under the following categories:

     *    Media - advertising, marketing and signage for West End, Broadway and
          Las Vegas shows via the Dewynters and Newman Displays brands, and 
          strategic sponsorship consulting via Sponsorship Consulting and First 
          Rights

     *    Entertainment - representation of media personalities and football
          players/clubs across UK, Europe and the US via its First Artist Sport 
          and First Artist Entertainment companies together with wealth 
          management under its Optimal Wealth Management arm

     *    Events - offers a broad range of events such as conferences, company
          activity days, venue finding, delegate  management and client events 
          for private and public sector clients such as the Training & 
          Development Agency, under its Finishing Touch business

*  First Artist is acting as a consolidator in the fragmented media,
   entertainment and events sectors focusing on high quality brands with the
   potential to cross sell to other Group companies

*  First Artist has strong visibility of earnings across a diverse and non-
   cyclical range of activities in both live and digital formats

*  The Group benefits from a strong, experienced management team with extensive
   expertise across all the sectors in which it operates



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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