Artemis International Unveils Enhanced IT Management and Governance Solution; New Features and Functionality Dramatically Increase the Business Value of IT.

NEWPORT BEACH, Calif. -- Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

ARTEMIS INTERNATIONAL UNVEILS ENHANCED IT MANAGEMENT AND GOVERNANCE SOLUTION; NEW FEATURES AND FUNCTIONALITY DRAMATICALLY INCREASE THE BUSINESS VALUE OF IT

Artemis International Solutions Corporation (OTCBB: AMSI), global provider of Investment Planning and Control(TM) software, today unveiled an enhanced IT Management and Governance solution designed specifically for organizations embracing IT as a competitive advantage. With the new release of Artemis for IT Management and Governance (ITM), customers have instant access to a host of new features that dramatically improve business value, efficiency and agility for organizations in the financial services, telecommunications and retail market segments. The new product is immediately available.

"The addition of work request management, detailed project planning and resource, management to our award-winning IT portfolio management and budgeting solution provides the most comprehensive solution available for truly effective IT management and governance," said Patrick Ternier, president and CEO of Artemis. "The Artemis solution is particularly designed for organizations that have integrated IT in the business and are not using it only as a service provider. Our customers in the telecommunications and financial services sector are pleased with our improved ability to manage demand and execution control, all in the same integrated environment."

Business Value, Efficiency and Agility

The business value of IT, along with efficiency and agility compose the critical elements of any competitive and successful business. Artemis for ITM introduces a whole host of new features that:

--Assist organizations in objectively selecting, prioritizing, sequencing and auditing their IT investments for maximum business value and competitive advantage;

--Improves time to value by automating and streamlining cross-functional IT development and operational processes;

--Allow for immediate re-allocation of key IT resources across competing development and operations initiatives;

--Enable rapid evaluation and selection of alternate IT investment options through scenario-based simulations;

"A lot of the effort in IT today is on managing the demand for IT services," said Dennis Gaughan, research director for AMR Research in an alert titled Vendors Start to Address Integration and Strategic Planning for IT, issued June 16, 2005. "Portfolio management tools are hot because they help an IT organization take a strategic view of potential IT investments and align them to business objectives."

Artemis for ITM

Built on the Artemis 7 foundation, the latest version of Artemis for ITM adds new functions for work request management and detailed project and resource management. Specifically suited for the financial services, telecommunications and retail markets, the product gives executives the insight to improve investment decisions and overall IT governance. Investment and project lifecycle management functions automate industry standard and customer-specific IT development and management processes, such as COBIT, ITIL and RUP.

Also new to Artemis for ITM is a Work Request Management module, addressing the critical need for capturing and managing demands, such as projects, work requests and operational tasks, within the overall IT management and governance process. The Work Request module captures, manages and routes multiple request types. Each type of request can have a unique workflow process that is defined and navigated via a graphical workflow interface.

The new fully-functional project management module allows users to perform all project management functions from within Artemis. While still offering support for third-party desktop productivity tools such as Microsoft Project(R), the extensive new project planning and scheduling capabilities give customers the ability to capture and manage that data within Artemis for ITM.

Performance-based budgeting functionality enables organizations to build budgets that accurately reflect strategic and operational goals, by allowing them to capture the full cost of the resources required to support initiatives and projects, reallocate funds according to changes in priorities, and improve collaboration between operational and financial staff. Because budgets are prepared annually and new investment opportunities identified during the year are difficult to take into account, there is substantial risk that unplanned initiatives may consume allocated budgets. With this capability, Artemis for ITM provides in-depth visibility and accountability to all stakeholders, ensuring ongoing support of business goals.

Enterprise Repository

In addition to support for IBM's Websphere, Artemis for ITM includes support for IBM's DB2 relational database. This gives users the flexibility to consolidate all product information, while also integrating with existing enterprise information systems.

Pricing and Availability

Available immediately, Artemis for ITM will include training materials on all new functionality.

About Artemis International Solutions Corporation

Artemis International Solutions Corporation (OTCBB: AMSI) is one of the world's leading providers of investment planning and control solutions that help organizations execute strategy through effective portfolio and project management. Artemis has refined 30 years experience into a suite of solutions and packaged consulting services that address the specific needs of both industry and the public sector including, IT management, new product development, program management, strategic asset management, and detailed project management. With a global network covering 44 countries, Artemis is helping thousands of organizations to improve their business performance through better alignment of strategy, investment planning and project execution. For more information, visit www.aisc.com.

Forward Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press 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 press 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.