RNS Number:0889Q
First Artist Corporation PLC
15 August 2005


15 August 2005

                 First Artist Corporation plc ("First Artist")

                                 EGM statement
                     Completion of Acquisition and Placing

The Board of First Artist is pleased to announce that, at the Extraordinary
General Meeting held this morning, all of the resolutions proposed in the Notice
of Extraordinary General Meeting, details of which were set out in the circular
to shareholders dated 22 July 2005 ("Circular"), were duly passed. The Board of
First Artist also announces completion of the acquisition of ABG Financial
Management Limited ("ABGFM"), subject to admission of the Enlarged Share Capital
(as defined in the Circular) to trading on AIM which is expected to take place
on 17 August 2005 ("Admission"). Under the terms of the Placing Agreement, Shore
Capital has placed 25,000,000 new Ordinary Shares at 5p per share raising #1.25
million, before expenses, subject to Admission.

Commenting on today's meeting, Jon Smith, Chief Executive of First Artist, said:

"We are delighted to conclude the acquisition of ABGFM today which is a
significant development for the group and which will fit well into our recently
reorganised group structure. We intend to focus on diversifying and reducing our
dependence on the seasonal football market and becoming a broadly based
entertainment and representation group.

"Our aim is to reduce the proportion of revenue generated by football transfers
from the current 90% to around 30% of the group total, whilst still looking to
grow the player representation business. Importantly, the group's core business
continues to perform very well and as announced in our recent trading statement,
this summer has been one of our most active trading windows for some years.

"We continue to work closely with the Premier League, the Football League and
the Football Association to create an official agents' association as we seek to
enhance the credibility, trust and self regulation of agents in the UK. The
First Artist brand name continues to be regarded with respect, not only in the
football market but also in the global sports and entertainment industry. We
fully intend to bring this professionalism and integrity to bear on all the
group's current activities and any future acquisitions."

For further information:

First Artist Corporation plc
Jon Smith, Chief Executive Tel. + 44 (0) 20 8900 1818
Richard Hughes, Finance Director

Smithfield Consultants
George Hudson Tel. + 44 (0) 20 7360 4900

Notes to Editors

First Artist Corporation plc (FAN.LN) was founded by Chief Executive Jon Smith
in 1986. It is one of world's leading football management groups with offices in
London, Milan, the USA and Middle East. It was one of the first football
agencies to IPO, joining the AIM market in December 2001. Prior to the
acquisition of ABGFM, First Artist's primary revenue generation stream was from
commission on the transfer of football players or the renegotiation of their
contracts. The Group is one of a handful of agencies whose personnel hold both
FIFA match and transfer licences. It is working with other leading European
agencies, senior European clubs and leagues to enhance the position, reputation
and transparency of the football transfer market and in particular the role of
agents.

First Artist also offers a complete in-house management service with specialist
divisions for Financial Management, Marketing, Media Management, Television /
Media Production, Event Production and Sponsorship. The Media/Commercial
Division represents top sporting and TV personalities. First Artist's client
roster exceeds 200 individuals primarily involved with the sports and television
industry.

First Artist announced the proposed acquisition of ABG Financial Management Ltd
on 22 July 2005, for a maximum consideration of #3 million in cash and shares.
ABG is an IFA focused on providing taxation and financial consultancy services.



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

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