AremisSoft Hospitality Extends Momentum with a Key Contract & Partnership.

Business & Technology Editors

NEW YORK--(BUSINESS WIRE)--May 24, 2001

Selected by Great Southern Hotels for complete end-to-end Web

engine solution

Partners with CCS International in reseller agreement

AremisSoft Corporation (NASDAQ: AREM), a leading international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, today announced that Great Southern Hotels selected the AREMIS(TM) complete end-to-end Web engine solution to upgrade its centralized booking service.

The Web engine solution is part of a phased installation program that fully integrates the previously installed AREMIS Central Reservations System (CRS). The AREMIS CRS was selected for its ease of use as a room booking solution, allowing high volumes of customer information to be efficiently collected, stored and shared between hotels. The AREMIS Web Bookings Engine is also linked to the hotel's group website to deliver real time bookings directly from the customer to the hotel's database. The total contract value for the AREMIS suite for nine Great Southern Hotels is approximately $420,000.

Kevin Murphy, IT Manager at Great Southern Hotels, commented, "The AREMIS end-to-end solution for managing hotel bookings and creating customer profiles is already adding real value to our business. We are so pleased with its immediate results that we will soon be implementing the complete solution to two more hotels."

Paul Bloom, Executive Vice President of Corporate Development stated, "AremisSoft is emerging as a leader in enterprise-wide Hospitality solutions. The distributed information architecture of the AREMIS Hospitality product is ideally suited for groups, such as Great Southern Hotels. We look forward to building on our relationship with the Great Southern Hotels' team."

AremisSoft also announced that it entered into a strategic partnership with CCS International (CCSI), an associated company of Interval International, where CCSI will be the exclusive reseller of the AremisSoft Hospitality suite of products to the vacation ownership industry. The companies plan to integrate AREMIS solutions with CCSI's comprehensive timeshare application, Resort Solutions(R). This agreement includes the AREMIS on-site and ASP solution, Front Office for single or multi-site, Resort & Club Management, Spa, Food & Beverage, Retail Point of Sale, and Golf/Tennis and Activities Scheduling. AremisSoft will also provide complete training, installation and customer support services.

Paul Bloom added, "We consider Interval International/CCSI to be the premier company in the vacation ownership industry and our full suite of products perfectly complement their first rate customers and operations. We look forward to the integration of our products, giving CCSI the best end-to-end technology solution for its customers."

Jeanette E. Marbert, Executive Vice President of CCS International, commented, "AremisSoft was our clear choice because of its proven track record in the hospitality industry. Equally important, we especially required a sophisticated property management system because of the nuances created from the convergence of the hospitality and timeshare industries."

About Great Southern Hotels

Great Southern Hotels has been Ireland's premier hotel group since 1845. During that time a unique tradition of service to guests has been established which has become synonymous with the brand Great Southern Hotels. The group has eight hotels, each with their own distinctive style and the hotels are all located in Ireland's most famous visitor destinations.

About CCS International

CCS International (CCSI), an associated company of Interval International, has developed Resort Solutions, a comprehensive rules driven application designed to meet the ever changing needs of a full service timeshare operation. The new soft manages most aspects of timeshare operations from lead generation, marketing, contracting, and commission, through member servicing, reservations and resort financial management. Resort Solutions incorporate the newest and most elaborate requirements of club ownership structures to aid in sales and operational management.

About Interval International

Interval International, the quality vacation exchange company, is celebrating its 25th year leading the vacation ownership industry with innovative products and the highest levels of quality, service, and value. Interval's reputation for superior products and services has attracted leading independent and brand name developers to its network, which now includes nearly 1,900 resorts in over 75 countries. Interval serves its developer clients and consumer members through 30 offices in 21 countries.

About AREMIS

AREMIS has been designed for today's global hotel market and provides a state-of-the-art enterprise-wide CRS, PMS and centralized Customer Management System (CMS), Resort & Club Management, Spa, F&B, Retail Point of Sale, and Golf/Tennis and Activities Scheduling. Based on Microsoft(R) Windows, the product automates the unique requirements of the hospitality industry either in an on-site client-server environment or as a full-featured system offered via the internet as an ASP solution. With features such as a web-booking engine, drill down marketing analysis, foreign language support, state-of-the-art-graphics, touch screen technology, and `Walkabout' technology, AREMIS has quickly gained wide acceptance in the worldwide hospitality industry.

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 $123.6 million for the twelve months ended December 31, 2000 and pro forma net income of $29.2 million for the same period. AremisSoft has approximately 1,300 employees, with sales in over 20 countries and a customer base in excess of 8,000. The Company also operates a software development and support facility in India, with over 325 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.