Artemis International Improves Corporate Governance with New Enterprise Portfolio Management Software.

Business Editors/High-Tech Writers

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Aug. 5, 2003

Artemis 7 Corporate Governance Solutions Provide Executive

Transparency to Corporate Assets and Investments as Directed by

Sarbanes-Oxley

Artemis International Solutions Corp. (OTC BB:AMSI), a leading global provider of enterprise portfolio, project and resource management software solutions, today announced its new enterprise portfolio management software, Artemis 7. Designed to provide operational transparency to corporate CxOs across the globe, and enabling executives to address corporate governance requirements from the top down, the Artemis 7 management framework provides immediate visibility into corporate assets, capital investments and all related transactions.

With corporate governance impacting companies around the globe and deadlines bearing down on all corporations publicly traded in the United States as mandated by the Sarbanes-Oxley Act, Artemis 7 provides executives with a system for designing or supervising the development of internal controls and procedures. The software provides a critical level of visibility into the acquisition, development and disposition of corporate assets, as Sarbanes-Oxley now requires. Executives will have actionable processes and the information necessary to balance operational activity with financial reporting.

"Sarbanes-Oxley requirements have changed the priorities of corporate executives. A shift has taken place that mandates immediate disclosure and accountability for decisions made that impact financial reporting," said Mike Rusert, president and CEO, Artemis. "Through Governance Dashboards and automated alerts, Artemis 7 provides operational transparency at the fingertips of the CxO. This allows executives to prioritize and monitor corporate assets over their complete lifecycle, from inception through measurement of on-going benefits, to final decommissioning."

Artemis 7 enables executives to assess their overall capital needs and improve capital allocation and align thresholds for risk with strategic opportunities. Further, operational surprises, potential losses and deviations from processes can be identified across the enterprise and minimized. This provides for the early detection of material events and helps to assure immediate public disclosure. In addition, Artemis 7 fosters efficient collaboration among executives and between divisions, departments, operations and project teams, by automating management processes to improve decision-making and capital allocation. Artemis 7 interfaces with existing transactional systems, such as ERP and CRM, to tightly link management processes and decisions with day-to-day business activities.

"Governance compliance is not just a requirement for IT projects, but rather, spans across all corporate assets and investments," said Robert Stefanovich, CFO of Artemis. "The letter and spirit of recently enacted legislation mandates effective governance of both the financial transactions of a corporation and how it links growth, risk and return to preserve value and manage value creation." Rusert added, "Consider the magnitude of financial investments that a Fortune 1000 company initiates on an annual basis -- it's staggering. Artemis 7 allows executives to prioritize the corporate portfolio of assets and initiatives, track current status directly from operational units, identify business risks early, understand the impact of change and make better decisions faster."

Concurrent with the release of Artemis 7, the company is formalizing a series of industry specific solutions. Each solution configures Artemis 7 to address specific management processes. "Artemis 7 is an incredibly powerful and flexible system. The fastest, most valuable way to deliver this power is through a solutions approach where the software application is tuned to the needs of a specific industry or business function to address processes that can provide immediate benefit," added Rusert.

Key Features

Artemis 7 is a scalable, Web-based software that includes the following features that address corporate governance:

-- Governance Dashboards, automated alerts and configurable

reports, which enable executives to observe all levels of the

organization to supervise and control corporate assets and

investments with an integrated picture of risk and return;

-- Portfolio management analytics, to optimize prioritization of

new investments, review the value of existing investments and

monitor operational execution;

-- Process management, to authorize, control and manage the

entire lifecycle of each asset or investment and foster

collaboration across the enterprise;

-- Program and project management, for top-down planning and

monitoring of work to the level of detail needed to ensure

effective control and governance;

-- Resource management, to plan and optimize resource and capital

allocation across all authorized enterprise activity;

-- Performance monitoring of actual usage against budget, plan

and forecast, for early warning of material events that may

impact financial reporting;

-- System interfaces, to support integration with transactional

systems, extending the scope of governance and control down to

day-to-day business activities.

Artemis 7 is immediately available and runs in a Web-based architecture that supports a broad range of computing platforms.

About Artemis International Solutions Corp.

Artemis International Solutions Corp. is one of the world's leading providers of enterprise portfolio, project and resource management software solutions for all levels of the enterprise -- from the executive to the knowledge worker. Artemis' solutions are supported by industry-leading consulting services and an international distribution network of 48 offices in 43 countries. Artemis has more than 500,000 users around the world, and services key industries such as aerospace and defense, energy & telecom, high technology, pharmaceutical, government, automotive and financial services. The common stock of the company trades under the symbol "AMSI" on the OTCBB.

Forward-Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This news release contains or may contain forward-looking statements such as statements regarding the company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction and trends in the industry in which the company operates. The forward-looking statements contained in this news release are also subject to other risks and uncertainties, including those more fully described in the company's filings with the Securities and Exchange Commission. The company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements or for prospective events that may have a retroactive effect.