Reverse Stock Split of Artemis International Solutions Corporation Shares

Helsinki, FINLAND


HELSINKI, Sept. 13, 2002 (PRIMEZONE) -- The Board of Directors of Artemis International Solutions Corporation (OTCBB:AISC), sub-group of Proha Plc, has approved a proposal to effect a reverse stock split of shares of the Company's outstanding common stock at a ratio of one share of common stock for every ten, 11, 12 or any whole number of shares thereafter up to and including 100.

In accordance with applicable U.S. law, the reverse stock split is subject to stockholder approval. The special meeting to discuss these matters will be called at a later date. The AISC Board of Directors will determine whether to actually effect the reverse stock split and the precise reverse split ratio after approval by the stockholders based on prevailing market conditions at the time the reverse stock split is effected.

Proha holds approximately 199 million AISC shares listed on the OTCBB, corresponding to 80% of the outstanding common stock. Proha has committed to vote its shares in favour of the reverse stock split. The reverse stock split will not have a noticeable effect on the size of Proha's ownership of AISC.

Proha in brief

Proha is a global software company focusing on maximizing its customers' business performance by providing management solutions. The Group operates through three business areas: Project Management (Artemis), Financial Management (Accountor), and ASP services based on Internet Technologies (Intellisoft). The largest business area is Project Management (Artemis sub-group), whose net sales generate about 90% of the Group's net sales. The Proha Group's net sales were EUR 82.8 million in 2001. Over 4/5 of net sales originates from outside Finland. The Group employs approximately 609 people, 383 of whom work abroad.

Proha Plc

Pekka Pere, President and CEO

PROHA PLC

CEO Pekka Pere, tel. +358 (0)20 4362 000, pekka.pere@proha.com, http://www.proha.com

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