Artemis International Closes Sale of Stake in Finnish Accounting Services Company

NEWPORT BEACH, Calif. - December 5, 2002 - Artemis International Solutions Corporation (OTCBB: AISC), one of the leading providers of enterprise portfolio and project management applications, today announced it has closed the sale of its holdings in Accountor Oy - a financial management and consulting services company - to the Pretax Group, the largest provider of outsourced financial management and payroll services in Finland. Artemis received net proceeds of $795,000 in cash for its 19.9% stake of Accountor. The final purchase price may be subject to adjustments based on Accountor’s financial results through February 28, 2004. Proceeds from the sale will in part be used for general working capital and to strengthen Artemis’ balance sheet. Accounted for under the equity method of accounting, the one-time gain on the transaction will be recognized in fourth quarter of 2002. The divestiture will not impact future results from operations. 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.