RNS Number:4850Z
First Artist Corporation PLC
02 August 2002


                          First Artist Corporation plc

                       ("First Artist" or the "Company")


            Payment of Deferred Consideration and Additional Listing


First Artist, the leading football management and sports promotion company,
announces the additional listing of 253,537 new ordinary shares of 0.25p each
("Ordinary Shares") in the Company. The Ordinary Shares are being issued to Ian
Elliott as part of the consideration payable pursuant to an agreement dated 19
July 2001 for the acquisition by First Artist of the business carried on by Mr
Elliott (the "Acquisition Agreement"), completed prior to the Company's
flotation on the Alternative Investment Market of the London Stock Exchange
("AIM") in December 2001.


Under the Acquisition Agreement, the total consideration to be paid to Mr
Elliott was #295,000. This comprised initial consideration of #125,000 payable
on completion and deferred consideration of #170,000 payable in two instalments
over the two-year period following completion. Of the #295,000, #145,000 is
payable in cash and #150,000 is payable in Ordinary Shares.


The first of the deferred payments was due on 19 July 2002, the first
anniversary of the date of the Acquisition Agreement. Accordingly, #35,000 in
cash has been paid to Mr Elliott and today the Company issued Ordinary Shares to
the value of #50,000 to Mr Elliott. Accordingly, on the basis of a mid-market
price of 29.75p at the close of business on 19 July 2002, 168,067 Ordinary
Shares have been issued to Mr Elliott today, conditional upon admission of the
shares to trading on AIM ("Admission").


Further Ordinary Shares to the value of #50,000, representing part of the
#125,000 initial consideration due to Mr Elliott on completion of the
Acquisition, are also to be issued to him today, conditional upon Admission. On
the basis of a mid-market price of 58.5p at the close of business on 18 July
2001, a further 85,470 additional new Ordinary Shares are to be issued to Mr
Elliott today. The issue of these shares was held in escrow for the 12 month
period following completion of the Acquisition as security for the Company
against potential warranty claims under the Acquisition Agreement.


Application has today been made for the admission of the new Ordinary Shares to
trading on AIM. The shares will rank pari passu with the existing Ordinary
Shares of the Company. Dealings in the new Ordinary Shares are expected to
commence on or about Thursday 8 August 2002.


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

END

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