FAN Volution Group Plc

RNS Number:8696Y
First Artist Corporation PLC
19 May 2004

                          First Artist Corporation PLC

                      Trading Statement and Board Changes

First Artist Corporation plc ('FAC'), a leading global football management and
representation company, expects to announce its results for the six months
ending 30th April 2004 in July 2004. FAC makes the following comments regarding
its performance during the six months from November 2003 to April 2004.

Strategic Review

It was announced in October 2003 that in view of the unpredictable nature of the
soccer market, a full independent strategic review would be conducted to assess
a way forward for FAC. Following completion of the review the Board remains
confident in the long-term viability of the football sector and has agreed that
the best way forward to maximise shareholder value is to:

   *optimise its core football activities;
   *continue to take steps to improve FAC's cash position and balance sheet;
   *broaden the activity base of the Group; and
   *look for suitable opportunities for expansion into 'non-footballing'
    areas through acquisition, or other arrangements.

Business Review

FAC continues to reduce its cost base both in the UK and European operations and
with the ongoing support of the Group's bankers are confident of an improvement
in the Groups cash position over the next six months to October 2004. On an
annualised basis the cost base has been reduced by in excess of #500,000.

Trading conditions in the football market both in the UK and Europe appear to
have somewhat stabilised and although they remain volatile there is growing
confidence of an upturn in the UK. The January 2004 trading window was
profitable for FAC and we are forecasting a small upturn in the UK market in
this summer's trading window.

The Board

As previously announced, Richard Hughes joined the Board as Group Finance
Director in March 2004. He brings to the Board broad experience of the marketing
services sector, change management, mergers and acquisitions.

FAC also announces today the retirement of its Chairman Brian Baldock, who has
decided to reduce his business roles and concentrate more on his involvement in
charity. The Board wishes to thank Brian for all his support and guidance during
his time with FAC and are glad that Brian will be available, if required, to
advise the Group going forward.

Alex Johnston has agreed to his appointment as Chairman with immediate effect.

The Board is taking steps to recruit further experienced non-executive
directors.

For further information, please contact:

Jon Smith, Chief Executive            020 8900 1818
Richard Hughes, Finance Director


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

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