AremisSoft Announces Management Changes.

Business/Technology Editors

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 1, 2001

AremisSoft Corporation (OTC BB:AREM), a leading international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, today announced the appointment of George Ellis as chairman and chief executive officer, replacing Roys Poyiadjis, who has resigned for personal reasons. Additionally, Paul Bloom, currently president and chief operating officer, will assume his former title and responsibilities as executive vice president corporate development.

Mr. Ellis, 52, recently a strategic planning consultant and officer of the Communities Foundation of Texas, Inc., formerly served as the executive vice president and chief financial officer of Sterling Software, Inc., from 1985 to 1996, and, during that time, was a founder and chief financial officer of Sterling Commerce, Inc. Both software companies were traded on the NYSE, and experienced significant growth during the term of Mr. Ellis' employment. Mr. Ellis is a CPA and a licensed attorney in the state of Texas. Mr. Ellis served as a director on the AremisSoft Corporation board from April 1999 through February 2001.

Commenting on his appointment, Mr. Ellis said, "AremisSoft has retained customer confidence and its software continues to rank among the best in the vertical markets it serves. As a former member of AremisSoft's board, I believe that the company's business model offers positive opportunities for future growth. I look forward to updating you on our progress in the weeks ahead. Finally, I would like to thank our former chairman and chief executive officer, Roys Poyiadjis, for his service to AremisSoft and wish him best of luck in his future endeavors."

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. For more information on AremisSoft access our website, www.aremissoft.com.

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.