AremisSoft Announces New ERP Internet Initiative.

NEW YORK--(BUSINESS WIRE)--June 17, 1999--

AremisSoft Corporation (Nasdaq:AREM), a leading international supplier of Enterprise Resource Planning (ERP) solutions, today announced a new product initiative at its North American User Conference in Baltimore, Maryland.

In order to extend its penetration into the Tier 3 manufacturing sector (companies with annual revenues of under $150 million), AremisSoft today announced "MTMS ease" a pre-configured, simplified, intuitive, browser-focused version of its mid-range MTMS Enterprise application.

"We see great opportunities in the Tier 3 marketplace for products that can offer true depth of functionality and ability to scale up as those organizations grow," commented Barry Crowe, GM AremisSoft Manufacturing Division. "For too long, manufacturers have had to make do with so called `out-of-the-box' applications that offer neither the functionality, flexibility nor support for growth that these companies need. They need a system that includes multi-company, multi-currency, multi-language support as well as integrated Business Intelligence tools and e-commerce applications. By offering a product that provides our customers with the opportunity to grow, we eliminate their need to change -- allowing them to focus on their business rather than their systems."

MTMS ease will be available on the NT platform with a choice of database platforms. With functionality covering the core business areas of Design, Inventory, Sales, Purchasing, Planning, Production and Finance, it is designed to be implemented quickly and most importantly, efficiencies achieved by using MTMS can be measured.

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 Manufacturing is a wholly-owned business unit focused exclusively on the ERP marketplace, through the MTMS Enterprise application, a highly scalable, open system that is targeted at mid-range operations in Electronics, Fabricated Products, Primary Metals, Electrical Assembly, Mechanical Engineering and Textiles. Sold through a global channel of direct and indirect sales operations, the product supports mixed mode or hybrid manufacturing operations in these target sectors, where the ability to run on either NT/UNIX and a choice of database platforms are essential.

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," "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 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 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.