ARTEMIS INTERNATIONAL SOLUTIONS CORPORATION REPORTS FISCAL YEAR 2001 FINANCIAL RESULTS

Artemis International Solutions Corporation Combined and Consolidated Balance Sheets (In thousands, except share amounts)   December 31, 2001 December 31, 2000 Assets     Current assets:      Cash $ 5,081 $ 3,200  Trade accounts receivable, less allowance for doubtful accounts of $1,351 at December 31, 2001 and $138 at December 31, 2000 13,088 17,369  Other accounts receivable 952  1,235  Short-term investments - 250  Prepaid expenses and other current assets 2,528 1,864  Other current assets 268 155 Total current assets 21,917 24,073       Property and equipment, net of accumulated depreciation of $11,414at December 31, 2001 and $4,254 at December 31, 2000 2,725 1,825 Goodwill, net of accumulated amortization of $12,464 at December 31, 2000 - 38,746 Other intangible assets, net of amortization and writeoffs of $25,286at December 31, 2001and $2,284 at December 31, 2000 14,755 37,742 Investment in affiliates and other assets 796 1,102 Total assets $ 40,193 $103,488       Liabilities and stockholders’ equity     Current liabilities:      Accounts payable $ 5,262 $ 5,088  Accounts payable - parent company 30 2,050  Short-term line of credit 1,062 880  Current portion of long-term debt 1,245 1,770  Deferred revenue 7,471 8,228  Accrued liabilities 5,954 4,035  Accrued taxes 6,059 3,543  Other accrued liabilities and reserves 619 1,302 Total current liabilities 27,702 26,896       Deferred taxes 547 10,918 Long-term debt, less current portion 1,421 3,776 Accrued pension and other liabilities 941 898 Total liabilities 30,611 42,488       Minority interest - 95       Stockholders’ equity:      Common stock, $0.001 par value, 500,000,000 shares authorized, 249,124,506 and  199,423,560 issued and outstanding, respectively 249  199  Investment in stock of parent company - (2,783)  Additional paid-in capital 79,948 74,379  Accumulated deficit (71,152) (11,388)  Accumulated other comprehensive income (loss) 537 498 Total stockholders’ equity 9,582 60,905 Total liabilities and stockholders’ equity $ 40,193 $103,488

About Artemis International Solutions Corporation
Artemis International Solutions Corporation 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 50 offices in 43 countries. Artemis has over 530,000 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 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. These forward-looking statements are based on current expectations and are subject to a number of risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements are detailed in the documents filed by the Company with the Securities and Exchange Commission including but not limited to those contained under the Risk Factors section of Form 10-K for the year ended December 31, 2001. 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.