ARTEMIS INTERNATIONAL APPOINTS TWO DISTRIBUTORS IN CHINA

Distributors to meet demands of Portfolio, Project and Resource Management Software and Services

Singapore, December 2nd, 2003 – Artemis International Corporation today announced the appointment of two distributors in China. The Artemis China office, which was recently opened in August this year, has appointed GT. Technology Co. Ltd. and China Alliances Ltd. to support the growing needs of portfolio, project and resource management software and services in China. They will add on to Artemis’ already vast network of 48 offices in 43 countries.

Mr. Matthew Zhou, Vice President in charge of the Artemis China Office, said their strategy to capture larger market share in Asia is to “work with committed business partners with extensive project and portfolio management experience, IT project implementation and in-depth knowledge about vertical industries. The distributors were selected because of their ability to deliver value to customers as they have experience in combining world-class management philosophy with local business practices". Mr. Johnny Tan, President of Artemis Asia further emphasized, “China is a very important market for us. Artemis solutions are well positioned to help organizations improve visibility over their business performance and maximize return on their investments. We are excited to have established partnerships with GT. Technology and China Alliances. This represents a significant step towards achieving our goal of providing world class solutions to our customers in China together with full local support capabilities”. These business partners will be involved in marketing and distribution of the Artemis software, and providing value-added services such as consulting, localization, implementation, training, customization and other support services.

GT. Technology Co. Ltd., headquartered in Beijing, is a high-technology company under the Guo Neng Group (a publicly listed company in China). It was established in 1993 with 200 employees and a registered capital of RMB 60 million. GT. Technology Co. Ltd. is dedicated in providing system integration services to the Finance, Government, Energy, Military and other Service industries. According to Mr. Feng Qingfeng, Vice General Manager, “GT. Technology is looking forward to developing a close relationship with Artemis by leveraging on our mutual strengths and our top-notch customer service. We aim to create a Portfolio Management Era in China”.

China Alliances Ltd., headquartered in Shanghai, operates through a network of staff, associates and business partners. Their flexible internal structure and business alliance programs are designed to readily deploy people, knowledge, and capabilities for projects. China Alliances Ltd. specializes in Project Portfolio Management and is experienced in delivering solutions that help plan, control and measure performance across a strategic portfolio of projects and resources. Mr. Lawrence Yong, General Manager of China Alliances Ltd. mentioned, “We are excited to partner with Artemis International to bring a proven and robust Portfolio and Project Management solution to enterprises in China, so that they can better understand the plans and demands of their project queue, and align ongoing activities with the overall business direction and strategy. There is a growing market for Project Management in China as the enterprises that we are talking to recognize that they are overloaded with projects, and they are in desperate need to have visibility for what they are working on”.

The contact details for the distributors are as follows;

1) GT. Technology Co. Ltd.
Floor 6, Minjian Building,
2 Huayan North, Deshengmenwai Chaoyang District,
Beijing 100029, P.R. China
Tel: 86-10- 6205 5566
http://www.ckochina.com
Key contact: Feng Qingfeng/Vice General Manager
Email:qffeng@gttek.com.cn

2) China Alliances Ltd.
Rm. 1432, Suncome Cimic Building,
800 Shang Cheng Road,
Shanghai 200120, P.R. China
Tel: 86-21-58355233
Website: www.chinalliances.com
Key contact: Lawrence Yong
E-mail: Lawrence.yong@chinaliance.com

About Artemis 7

Artemis 7 - fully Web-enabled - provides companies with a tool for directing and assessing strategic initiatives throughout the enterprise. The software fosters more efficient collaboration among executives, department, project and resource leaders and allows companies to examine programs in terms of potential return on investment, allocation of resources and impact on other projects throughout the depth of the organization. With this strategic analysis, executives are better able to identify resource-heavy programs, modify on-going projects and maintain a more consistent focus on programs that support corporate objectives. Artemis 7 is a scalable, Web-based solution that:

Optimizes the prioritization of new investments against existing portfolios
Allows the definition of the work content of investments in terms of one or multiple programs of work thereby providing further validation that the organization can successfully execute the investment.
Provides for the rapid creation of project plans to the detailed task level, either within the tool or via third party tools, thereby allowing progress to be consolidated up from the operational level to be compared with expectations at the strategy level within the business.
Provides project & program manager roles a simple resource requesting mechanism, specifying the required resource dates, levels of effort and specific skills needed enabling rapid adjustment as priorities and content changes.
Provides resources a simple, fast mechanism for reporting their actual hours and estimated completion dates against projects and tasks providing a complete picture of the work performed by the organizations resources.
Allows every resource to interact with Artemis 7 through their personal workspace that provides access to information such as project risks & issues and project documentation thereby improving communication and throughput.

About Artemis International Solutions Corporation

Artemis International Corporation is one of the world’s leading providers of enterprise portfolio and project management software and services. Artemis has refined 30 years experience into a suite of industry optimized solutions that integrate application modules with packaged consulting services to provide an immediate response to today’s business needs. The solutions combine to establish an improved corporate governance framework encompassing top-down investment planning for corporate IT management, public sector program management, new product development and detailed project and program management. With a global network encompassing 43 countries, Artemis has helped thousands of companies worldwide to improve their business performance through better alignment of strategy and project implementation. For more information visit http://sg.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.