AremisSoft Offers Update On Its 9.2% Interest In GlobalSoft.com.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 18, 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 GlobalSoft.com, a software company in which AremisSoft has a 9.2% equity position, successfully completed its initial public offering on the Cyprus Stock Exchange under the trading symbol "GLC."

Based on current exchange rates and the closing price of GLC on May 16, 2000, AremisSoft's 11.3 million share investment has a market value of approximately $110.0 million, compared to its book value of $1.8 million.

"In October 1999, we recognized that we could maximize shareholder value by divesting our Cyprus operation into GlobalSoft.com," stated Roys Poyiadjis, President of AremisSoft. "We are extremely pleased with the growth of our investment and are confident in its continued success. Our Board of Directors is reviewing how to further capitalize on this investment to best serve the interests of AremisSoft's shareholders."

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.