AremisSoft's Hospitality Division Demonstrates AREMIS Enterprise System at HITEC Exhibition and Conference.

Business/Technology Editors

HITEC Exhibition and Conference

NEW YORK--(BUSINESS WIRE)--July 12, 2000

AremisSoft Corporation (NASDAQ:AREM), a leading international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, today announced the successful exhibition of its next generation AREMIS Enterprise System at the HITEC Exhibition and Conference, which was held in Dallas, Texas. The AremisSoft booth had visitors from 17 countries, including the United States, Canada, Barbados, Jamaica, Ireland, England, Israel, Mexico, Switzerland, Czech Republic, Greece, Norway, Australia, Hong Kong, Argentina, France and Germany.

Mike Gadbury, Vice President of the Hospitality Division of AremisSoft stated, "Most interest was centered on our integrated AREMIS System, which covers Property Management, Central Reservations, and Data Warehousing, as well as our new totally integrated on-line Web booking engine. We believe we have the most technologically advanced solution in the marketplace with an enhanced fit to any organization's operating procedures, as well as breadth of functionality and flexibility to meet virtually any product requirement. With our newly formed sales teams in place in the United States and Germany, we are well-positioned to expand sales to additional geographic regions.

"Our goal is to expand our market reach worldwide by increasing the exposure of and business opportunities for our next generation AREMIS Enterprise System. We had a 200% increase in visitors to our booth compared to last year's event and were pleased with the high quality of visitors, with representatives of 8 of the 10 largest hotel chains in the world reviewing our new products. This large turnout underscores the progress we've made in becoming recognized as a market leader."

The AremisSoft Hospitality system is a true multi-tier architecture object oriented system that provides hoteliers a solid technological and functional platform that will enable them to better serve their customers changing needs in the years ahead. The system has an integrated multi-site central reservation capability as well as support for 360-degree Web-based displays of hotel rooms and facilities. The modular AREMIS Hospitality System also provides an integrated Internet booking engine that enables a hotel property to accept reservations directly from a web site while closely managing the online inventory level.

Iain Saxton, AREMIS Product Manager said, "Our decision to develop AREMIS as a seamless, object orientated product from scratch, instead of re-engineering legacy products, has allowed us to leapfrog the industry in offering the most technologically advanced solutions in terms of both design and functionality. We also incorporate a data warehousing module to create a complete solution for groups, allowing the AREMIS product to be well-positioned for market leadership."

HITEC is a leading trade show for the hospitality information technology community. This year HITEC experienced a record attendance level of over 5800 attendees.

About AremisSoft Corporation

AremisSoft develops, markets, implements and supports enterprise-wide applications software targeted at mid-sized organizations in the manufacturing, healthcare, hospitality and construction industries. The Company's software products help streamline and enhance an organization's ability to manage and execute mission-critical functions such as accounting, purchasing, manufacturing, customer service and sales and marketing. AremisSoft reported total revenue of $73.4 million for the twelve months ended December 31, 1999 and net income of $12.1 million before extraordinary gains for the same period. AremisSoft has over 500 employees, with sales in 10 countries and a customer base in excess of 5,000. The Company also operates a software development and support facility in India, with 212 employees, which provides significant organizational efficiencies and cost advantages in software development and support.

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements, other than historical facts, included in the foregoing press release regarding the Company's financial position, business strategy, and plans of management for future operations are "forward looking statements." These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward looking statements include, but are not limited to, statements in which words such as "expect," "see," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used. Forward looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including risks discussed under "Risk Factors" in the Company's annual report on Form 10-K, SEC File No. 0-25713, all of which are incorporated herein by reference. The Company's actual results and stockholder values may differ materially from those anticipated or expressed in these forward looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to control or predict. Readers of this press release are cautioned not to put undue reliance on any forward looking statement. The Company undertakes no obligation to publicly update these forward looking statements, whether as a result of new information, future events or otherwise.