AremisSoft Announces Executive Management Appointment; Management Changes Reflect Substantial Momentum and New Business Opportunities.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 25, 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, announced that Roys Poyiadjis, President, has been appointed to the position of Chief Executive Officer, effective immediately. Mr. Poyiadjis, 34, succeeds Dr. Lycourgos Kyprianou, 45, Founder, who will retain an active day-to-day management role as Chairman of the Board and Chief Technology Officer. The appointment allows Dr. Kyprianou to increase his focus on the technology of the Company's products and the development of large contracts and business activities in emerging markets. This management change reflects the increasing size and scope of AremisSoft's activities, and will lay the groundwork for future expansion.

"With a significant number of Internet and wireless technology initiatives underway and major business opportunities in international markets, we unanimously thought it prudent to refine the roles played by our key executives," stated Dr. Kyprianou. "Roys has demonstrated a tremendous capability to successfully manage many of the Company's business activities and deliver consistent performance and shareholder value, and we have complete confidence in his ability to lead the Company at the CEO level. With Roys' appointment, I can increase my focus on the technological strategy of the Company and further advance our presence in emerging markets."

Mr. Poyiadjis commented, "There are many exciting developments underway at AremisSoft. I look forward to advancing our strategic initiatives predominantly in North America while Lycourgos focuses on the technology behind our business and negotiates key contracts and expands our activities in emerging markets. We believe that our new management structure reinforces the continued success of executing our goals as we expand our global presence."

Earlier this week, AremisSoft announced the hiring of Dr. Paul I. Bloom as Executive Vice President of Corporate Development. Dr. Bloom, who will report directly to Mr. Poyiadjis, will be responsible for furthering the Company's acquisition strategy as well as developing key strategic relationships in the North American market.

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.