ARTEMIS ANNOUNCES FIRST QUARTER 2004 FINANCIAL RESULTS

NEWPORT BEACH, Calif., May 12, 2004 – Artemis International Solutions Corporation (OTCBB: AMSI), one of the leading providers of enterprise portfolio and project management software solutions, today reported its financial results for the first quarter ended March 31, 2004. Artemis reported $13.6 million in total revenue for the first quarter of 2004, compared with $16.2 million for the first quarter of 2003, down by $2.6 million or 15.9%. Earnings before interest, taxes, depreciation and amortization (EBITDA) was $(2.2) million for the quarter ended March 31, 2004, compared with $0.6 million for the prior year quarter. US GAAP reported net loss for the quarter ended March 31, 2004, was $(3.9) million, or $(0.39) per common share, compared to $(0.9) million, or $(0.09) per common share for the comparable 2003 period. The Company ended the quarter with $5.0 million in cash compared to $2.6 million at December 31, 2003 and $7.4 at March 31, 2003. During the first quarter of 2004, the Company announced its new president and CEO, Patrick Ternier, and initiated restructuring activities to reduce costs and better align its global infrastructure. As a result, the Company recorded restructuring charges of $1.2 million during the first quarter of 2004. “The last two months of the quarter have been focused on restructuring the company for profitability and consistency in execution,” stated Patrick Ternier, the president & CEO of Artemis International. “We are now in a position to benefit from the growth of the portfolio management solutions market. The very positive reception by our initial customers of the recently launched Artemis7 platform, in part a result of very short implementation cycles through our vertical solutions approach, is strengthening our pipeline for both upgrades and new customers looking for a proven and quick return on investment. This is valid throughout the geographies we cover.”

Consolidated Financial Highlights (unaudited)

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, fleet and asset management, outage 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.