AremisSoft Appoints Paul I. Bloom as EVP of Corporate Development; Strategic Appointment Underscores North American Expansion Strategy.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 22, 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 Paul I. Bloom has joined the Company as Executive Vice President of Corporate Development and will report directly to Roys Poyiadjis, President.

Dr. Bloom will play an instrumental role in advancing the Company's acquisition strategy in North America, which includes acquiring enterprise application software companies where the Company can leverage its software technology capability and low cost Indian development facilities. Additionally, Dr. Bloom will be responsible for expanding AremisSoft's presence in the North American market by developing strategic relationships.

"We are thrilled that Paul has joined our team to help further our expansion strategy in the United States," stated Roys Poyiadjis. "His intimate knowledge of the Company, coupled with his business acumen and significant analytical skills, will prove to be invaluable assets at AremisSoft. Additionally, he has forged a number of key industry relationships during his many years as a highly respected sell-side analyst. We welcome Paul and look forward to working with him as he leverages his experience and relationships in our expansion efforts."

Dr. Bloom comes to AremisSoft with 21 years of experience as a buy- and sell-side technology analyst whose breadth of coverage encompassed all facets of the software and services industries. Most recently, he was a senior analyst at Roth Capital for 18 months, with coverage of AremisSoft and other enterprise/e-commerce companies. Prior to Roth Capital, Dr. Bloom was a senior technology analyst at Volpe, Brown, Whalen with coverage of enterprise application and infrastructure software. Dr. Bloom has additional experience from Goldman Sachs, CitiCorp and J.P. Morgan. Dr. Bloom holds a MS and Ph.D. in Theoretical Physics from Belfer Graduate School of Science of Yeshiva University and a BS in Physics from CCNY.

Dr. Bloom commented, "I've been incredibly impressed with the Company's unique business strategy. AremisSoft is one of very few companies with a strong and effective presence in the midsize application software market, successful penetration of emerging markets, and a leveragable business model through its Indian operation. I've also admired management's ability to continuously execute on its business plan initiatives. I'm excited to join the Company to help build greater momentum 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 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.