AremisSoft Named to Software Magazine's Top 500 List.

Business and High Tech Editors

NEW YORK--(BUSINESS WIRE)--June 29, 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 its ranking on the Software 500, Software Magazine's list of the world's foremost software and services providers, featured in the publication's June/July 2000 issue. AremisSoft was ranked 182, with software revenue of $67.7 million in the 1999 calendar year.

Roys Poyiadjis, President and CEO of AremisSoft, commented, "Our rank in the top 35% on our debut listing in Software Magazine is a direct result of the success of our business model. We are pleased that some of our achievements have been recognized by industry leaders and have been included in Software Magazine's listing."

John Desmond, Software Magazine's editorial director, stated, "The CIOs, senior IT and e-business managers who read Software Magazine value this unique issue as a yearly benchmark of the standing of their product and service partners. And each year, as suppliers consolidate and new markets emerge, the composition of the Software 500 ranking reflects those changes."

Software Magazine's annual compendium of software and services suppliers catalogs the ranking, financial performance and growth, and primary business sector for each company as well as trend information for the Software 500 as a whole. The Software 500 is a comprehensive look at the enterprise software landscape, encompassing both public and private companies that develop business software and services. The ranking is based on total worldwide software and services revenue for 1999. Suppliers are not ranked on their total corporate revenue, since many others have other lines of business. Software revenue includes license fees, as well as maintenance and support revenue, professional services/consulting, and custom programming. The financial information is based on the calendar year and was gathered from Software Magazine's vendor survey, public documents and industry analysts.

A complete list of the Software 500 companies of 2000 can be found at www.softwaremag.com. A copy of the June/July issue of Software Magazine can be obtained by calling 888-764-6614.

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.

About Software Magazine and Wiesner Publishing LLC 

Software Magazine is written for business-savvy IT professionals chartered with the responsibility of evaluating, recommending and purchasing software and services for their organization. The magazine's mission is to focus on the trends in buying and managing strategic software solutions and to explore the issues facing today's IS professional. The magazine is BPA-audited and has a controlled circulation of 75,000. Privately-held, Wiesner Publishing, Englewood, Colo., publishes 11 magazines, mostly in the home and lifestyle category.

Software Magazine Contact: Amy Sauer 508-875-3364, No. 30

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.