Artemis receives $5 million credit facility with Laurus Master Fund

NEWPORT BEACH, CA - August 20, 2003 -- Artemis International Solutions Corporation (OTCBB: AMSI), one of the leading providers of enterprise portfolio and project management software solutions, announced today that it has obtained a three-year, $5 million asset-based credit facility from New York-based private equity fund Laurus Master Fund, Ltd. David Grin, Laurus fund manager stated, "We are looking forward to building a long-term relationship with Artemis and expect this financing to help them build on what they have achieved during their 27 year history." Mike Rusert, president & CEO of Artemis said, "Laurus delivered a very attractive and flexible debt facility with a unique equity feature that enables us to further strengthen our balance sheet and continue to demonstrate to our customers that we are here to support them for the long term." The level of availability under the facility is based on the accounts receivable of the Company’s operating entities in the U.S. and U.K. The outstanding balance under the credit facility may be repaid at Artemis’ option in cash or through the issuance of shares of Artemis’ common stock at the fixed conversion price of $2.73 per share, subject to volume limitations and certain conditions, provided the then current market price is greater than $3.14. In addition, Laurus has the right, at any time, to convert the outstanding balance into a maximum of 190,000 shares of the Artemis common stock at a fixed conversion price of $2.73. Upon conversion of the 190,000 shares, the fixed conversion price may be adjusted upward based on a premium to the then current market price, but shall not be less than $2.73. Laurus may then convert any outstanding balances into equity at the newly established conversion price. Conversion rights limit Laurus’ beneficial ownership in the Company to 2.5% at any time. "This financial vehicle increases our financial flexibility, has the ability to grow with us, and enables us to replenish our credit facility through an attractive equity conversion feature at a premium to today’s market price for our stock," said Robert Stefanovich, Artemis’ chief financial officer. About Artemis International Solutions Corporation Artemis International Solutions Corporation is one of the world’s leading providers of enterprise project and portfolio 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 40 offices in 27 countries. Artemis has over 500,000 users around the world, and services key vertical markets 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.