FAN Volution Group Plc

RNS Number:7299Y
First Artist Corporation PLC
17 July 2002

Embargoed Release: 0800 hours, 17th July 2002



         First Artist Corporation Plc ('First Artist' or 'the company')



                    Share price movement and trading update



The board of First Artist Corporation plc, the leading sports management agency,
notes the recent fall in the Company's share price.  Other than general stock
market conditions, the board is not aware of any business reason for this
movement.



First Artist has just completed its first full trading year since launching on
AIM in December 2001.  Certain decision-making on player transfers across Europe
was delayed by World Cup 2002, which resulted in a distortion in our final
operating month of 2002. The board is now confident that turnover of about £6.5m
will have been achieved, resulting in a profit before tax of circa £2m.



The integration of FIMO Sport Management has gone well and with the additional
representation achieved in Italy, Switzerland, South America and Asia Pacific,
we have begun to reap the benefits of cross-border trading.



The football market has been subject to much negative publicity in recent
months.  However, as the World Cup proved television audiences are higher than
ever and although there may be a major re-configuration of the industry, we are
confident that our business will continue to sustain the strong growth that has
been our hallmark.



As a key player in the global football market, our services are in higher demand
this year than ever before.  Whilst the size of the major transfers may be
smaller, the volume of transactions requested by the Clubs to assist them in
their realignment with the new financial environment, has increased.



The Company expects to announce its financial results for the year ended 30 June
2002 towards the end of September 2002.



Commenting on the first year, Chief Executive Jon Smith said:



"The competence and professionalism of our team has enabled us to produce
satisfactory results.  We believe we are well in touch with all the changes
going on around us and we intend to build on our core strengths.  At a time of
re-alignment in our industry we are confident that we will continue to maximize
opportunities for profitable growth.





In the current general uncertain economic environment, the group will continue
to seek to diversify its business by acquisitive expansion in other allied
markets and sports, whilst continuing to consolidate our position in the
football industry."







For further details please contact:


Jon Smith - Chief Executive                      Tel: 020 8900 1818
First Artist Corporation Plc
www.firstartist.com


Adam Reynolds/Takki Sulaiman                     Tel: 020 7735 9415
Hansard Communications                           Mob: 07778 419218
www.hansardcommunications.com                    mail@hansardcommunications.com




Notes to Editors:-



About First Artist Corporation plc:



 1. First Artist (FAN.L) listed on AIM in December 2001 having come to OFEX in
    March 2001.
 2. In December 2001 the company acquired FIMO Sport Promotion AG, the leading
    pan-European football player management agency.
 3. First Artist is now one of the largest football player agencies with 400
    players under management.
 4. On March 15th 2002 the company announced the creation of a Joint Venture
    company with Superfute FA ("Superfute") of Portugal and Media Global
    Audiovisual SL ("Media Global") of Spain. The Joint Venture company will be
    known as International Profoot Services Group ("IPS").  IPS will be able to
    leverage considerable cross border market intelligence between four of the
    largest football transfer markets in Europe - the UK, Italy, Spain and
    Portugal.





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

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