AremisSoft Announces $1 Million in New Sales of Hospitality Systems.NEW YORK--(BUSINESS WIRE)--June 23, 1999-- AremisSoft Corporation (Nasdaq:AREM AREM All-Random Easy Mode (gaming, Dota Allstars) AREM Avian Richness Evaluation Method ), a leading supplier of software solutions for the hospitality industry, today announced eight new orders for its AREMIS Property Management System (PMS (Pantone Matching System) A color matching system that has a unique number assigned to more than 500 different colors and shades. This standard for the printing industry has been built into many graphics and desktop publishing programs to ensure color accuracy. ) and Central Reservation central reservation Noun Brit & NZ the strip that separates the two sides of a motorway or dual carriageway central reservation n (BRIT) (AUT) → mediana System (CRS CRS Course CRS Certified Residential Specialist (real estate certification) CRS Central Reservation System CRS Can't Remember Stuff (polite form) CRS Cost Reduction Strategy CRS Consumer Relations Specialist ). The eight orders have a total value in excess of $1 million and include an initial order from Rank Hotels. The AREMIS Property Management System offers hotels a cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. means of using information technology not only to run their businesses, but also to improve occupancy and maximize revenue. The system provides hotel managers with open access databases; graphical displays of rooms, maps and photographs; reservation, guest history and accounting data; and simplified operations through the use of touch screen technologies. The Company's Central Reservation System can accommodate an unlimited number of reservations and has the ability to check in late arrivals the next morning and apply the correct charges to the guest's bill. In addition, the system can be programmed with future rate changes that it will automatically apply on the required date. Both solutions were developed in line with the Company's strategy of producing high-quality, scalable, enterprise-wide applications software that encompasses industry-standard database technologies. More than 1500 customers already have implemented AremisSoft Hospitality solutions, and the Company expects that a large number of these customers will upgrade to the new products. AremisSoft is the leading Property Management System supplier in the U.K. and Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. and sells more systems each year to this market than any other system supplier. Its customers include Forte Hotels, Jarvis JARVIS Just A Rather Very Intelligent System (Iron Man Film) Hotels, Jurys Group of Hotels, Friendly Hotels, Chewton Glen, Cliveden
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 Hospitality is a wholly-owned business unit focused exclusively on the Hospitality Systems marketplace, through the AREMIS PMS and CRS applications, which are highly scalable, open systems that are targeted at independent and chains of hotels. Please visit www.aremissoft.com for further information. Cautionary Statement for Purposes of the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including the risks discussed under "Risk Factors" in the Company's prospectus included in its registration statement on Form S-1, SEC File No. 333-58351, all of which are incorporated herein by reference. The Company's actual results may differ materially from those anticipated or expressed in these forward-looking statements. Many of the factors that will determine these results 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. |
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