Artemis Management Systems Inc. to Combine With Opus360 Corporation

Opus360 Procurement Solutions Provide a Strong Complement to Artemis Project

And Resource Collaboration Solutions Offering



Apr 11, 2001, 01:00 ET from Artemis Management Systems

    BOULDER, Colo., April 11 /PRNewswire/ -- Artemis Management Systems Inc.
 -- a wholly-owned subsidiary of Proha PLC and a leading provider of world-
 class project and resource collaboration solutions -- announced today that it
 has signed a definitive agreement to combine with Opus360 (Nasdaq:   OPUS), a
 publicly traded company that provides workforce procurement and workforce
 management solutions.
     Under the terms of the definitive agreement, Artemis, the project
 management and collaboration business of Proha, will combine with Opus360,
 which is expected to be renamed Artemis International Corporation.  Artemis
 recorded proforma revenues of just under $70 million in 2000 and has been a
 profitable entity for the past four years.
     "We believe the Opus360 services supply-chain management products will be
 appealing to our more than 2,000 global clients, as well as opening new
 markets through our worldwide distribution network, enabling more rapid
 expansion for Artemis " said Steve Yager, President and CEO of Artemis.  "The
 Opus360 executive team will be a strong addition to our international
 management team, as both companies share a similar culture."
     Yager is expected to serve as the CEO of the combined company.  The
 Company is expected to continue to trade under the OPUS symbol on the Nasdaq
 National Market until the name change is completed.
     Leading analysts such as Gartner Group continually recognize Artemis for
 its unsurpassed ability to execute.  Clients will still have easy access to
 the high quality products through which Artemis has established its strong
 reputation over its 25-year history and will continue working with their
 existing account managers, enjoying the same level of service to which they
 are accustomed.
     Artemis clients include Global 2000 corporations such as ABN AMRO Bank
 N.V., AIG, British Aerospace, Deutsche Bank, Ericsson Inc., The Goldman Sachs
 Group Inc., The Goodyear Tire and Rubber Company, ING Barings, Lockheed
 Martin, Marconi Plc, Nokia, Pfizer Inc., SBC Communications Inc. and Sun
 Microsystems Inc.
     Recently named one of the top 100 e-Procurement solutions by iSource
 Business magazine, Opus360's software enables companies to better acquire and
 manage skilled professionals, allowing businesses to streamline their existing
 resources and reduce the cost of acquiring new talent.
     "Opus360's web-based software products for the human capital management
 space will complement the Artemis portfolio of products," said Ari Horowitz,
 Chairman and CEO of Opus360.  "We continue to believe that our market segment
 is ripe for consolidation with too many under-financed, small competitors.  We
 believe that the combined companies can further leverage the Artemis extensive
 distribution network to include additional products through continued
 strategic M&A opportunities."
     Horowitz will continue to serve in an executive capacity focused on
 corporate development and M&A activity and will continue to serve on the board
 of directors of the combined company.
     In conjunction with the execution of the definitive agreement, the
 companies have entered into a bilateral distribution agreement effective
 immediately, to sell their full lines of products and services.  The combined
 offerings, once fully integrated, will offer end-to-end solutions for services
 supply-chain management to Global 2000 customers that will include the ability
 to:
 
 
     -- Define a business management architecture for a global view into all
        enterprise projects;
     -- Define individual project requirements;
     -- Estimate the resource requirements;
     -- Identify the potential internal available resources;
     -- Procure resources through a web-based exchange to preferred suppliers;
     -- Manage resources through the project implementation;
     -- Track time and expenses;
     -- Provide alerts to project trends and potential budgetary excesses.
 
     The proposed combination will result in the exchange of the stock of the
 Artemis subsidiary of Proha for 80% of the post-transaction issued and
 outstanding common stock of Opus360, and is subject to customary closing
 conditions, including the approval of the shareholders of each of Proha and
 Opus360 and the receipt by Opus360 of a fairness opinion.  The transaction is
 expected to close some time in the second half of 2001.
 
     About Artemis Management Systems Inc.
     Artemis Management Systems Inc., a wholly owned subsidiary of Proha PLC,
 is a leading provider of project and resource collaboration solutions.  Our
 unique Business Management Architecture(R) is the only total solution that
 maximizes business performance by helping enterprises transform their
 strategies into results.  Artemis' unique combination of integrated and
 scalable project and resource management software products and consulting
 services is designed to meet IS/IT, capital program and new product
 development application needs.  Artemis(R) provides strategic portfolio
 management and project and resource collaboration solutions to thousands of
 customers worldwide, including Global 2000 companies such as: ABN AMRO Bank
 N.V., American International Group. Inc., BAE SYSTEMS, The Boeing Company,
 Deutsche Bank, Ericsson Inc., The Goldman Sachs Group Inc., The Goodyear Tire
 and Rubber Company, ING Barings, Lockheed Martin, Marconi Plc, Nokia, Pfizer
 Inc., SBC Communications Inc. and Sun Microsystems Inc.  Headquartered in
 Boulder, Colorado, Artemis operates through its international network of
 40 offices in more than 27 countries worldwide.  For more information, visit
 the Artemis Website at www.artemispm.com.
 
     About Proha PLC
     Proha focuses its IT products on management in the Internet age, including
 project management, financial management and Internet technologies.  The
 company was listed on the NM-list of the Helsinki Exchange in October 1999.
 After the listing, the company has grown very rapidly through acquisitions and
 organic growth in sync with its strategy.  The pro forma net turnover of Proha
 is approximately U.S. $90 million.  The Proha Group employs over 600 staff in
 Finland, the United States, Great Britain, France, Germany and Japan.  For
 more information, visit the Proha Web site at www.proha.fi.
 
     About Opus360 Corporation
     Opus360 provides eBusiness software that enables companies to manage and
 acquire skilled professionals strategically.  Recently named one of the top
 100 technology companies by Forbes magazine and one of the top 100
 eProcurement providers by iSource Business magazine, Opus360's software
 enables businesses to get more work done with the employees they have and
 reduce the cost of acquiring skilled professionals.  Opus360 has sold its
 products and services to leading corporations, professional services and
 staffing firms such as Lucent Technologies, Computer Sciences Corporation,
 CompuCom, Computer Task Group and Global Managed Services.  Opus360 is a
 Safeguard Scientifics partner company.  For more information, visit the
 Opus360 Website at www.Opus360.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 Artemis Management Systems' and Opus360's growth
 and profitability, growth strategy, operating expense reduction targets and
 trends in the industry in which Artemis Management Systems and Opus360
 operate.  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 Opus360 with the Securities and Exchange Commission
 including but not limited to those contained under the risk factors section of
 the Opus360 Annual Report on Form 10-K dated December 31, 2000.  Artemis
 Management Systems and Opus360 assume 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.
 
 

SOURCE Artemis Management Systems
    BOULDER, Colo., April 11 /PRNewswire/ -- Artemis Management Systems Inc.
 -- a wholly-owned subsidiary of Proha PLC and a leading provider of world-
 class project and resource collaboration solutions -- announced today that it
 has signed a definitive agreement to combine with Opus360 (Nasdaq:   OPUS), a
 publicly traded company that provides workforce procurement and workforce
 management solutions.
     Under the terms of the definitive agreement, Artemis, the project
 management and collaboration business of Proha, will combine with Opus360,
 which is expected to be renamed Artemis International Corporation.  Artemis
 recorded proforma revenues of just under $70 million in 2000 and has been a
 profitable entity for the past four years.
     "We believe the Opus360 services supply-chain management products will be
 appealing to our more than 2,000 global clients, as well as opening new
 markets through our worldwide distribution network, enabling more rapid
 expansion for Artemis " said Steve Yager, President and CEO of Artemis.  "The
 Opus360 executive team will be a strong addition to our international
 management team, as both companies share a similar culture."
     Yager is expected to serve as the CEO of the combined company.  The
 Company is expected to continue to trade under the OPUS symbol on the Nasdaq
 National Market until the name change is completed.
     Leading analysts such as Gartner Group continually recognize Artemis for
 its unsurpassed ability to execute.  Clients will still have easy access to
 the high quality products through which Artemis has established its strong
 reputation over its 25-year history and will continue working with their
 existing account managers, enjoying the same level of service to which they
 are accustomed.
     Artemis clients include Global 2000 corporations such as ABN AMRO Bank
 N.V., AIG, British Aerospace, Deutsche Bank, Ericsson Inc., The Goldman Sachs
 Group Inc., The Goodyear Tire and Rubber Company, ING Barings, Lockheed
 Martin, Marconi Plc, Nokia, Pfizer Inc., SBC Communications Inc. and Sun
 Microsystems Inc.
     Recently named one of the top 100 e-Procurement solutions by iSource
 Business magazine, Opus360's software enables companies to better acquire and
 manage skilled professionals, allowing businesses to streamline their existing
 resources and reduce the cost of acquiring new talent.
     "Opus360's web-based software products for the human capital management
 space will complement the Artemis portfolio of products," said Ari Horowitz,
 Chairman and CEO of Opus360.  "We continue to believe that our market segment
 is ripe for consolidation with too many under-financed, small competitors.  We
 believe that the combined companies can further leverage the Artemis extensive
 distribution network to include additional products through continued
 strategic M&A opportunities."
     Horowitz will continue to serve in an executive capacity focused on
 corporate development and M&A activity and will continue to serve on the board
 of directors of the combined company.
     In conjunction with the execution of the definitive agreement, the
 companies have entered into a bilateral distribution agreement effective
 immediately, to sell their full lines of products and services.  The combined
 offerings, once fully integrated, will offer end-to-end solutions for services
 supply-chain management to Global 2000 customers that will include the ability
 to:
 
 
     -- Define a business management architecture for a global view into all
        enterprise projects;
     -- Define individual project requirements;
     -- Estimate the resource requirements;
     -- Identify the potential internal available resources;
     -- Procure resources through a web-based exchange to preferred suppliers;
     -- Manage resources through the project implementation;
     -- Track time and expenses;
     -- Provide alerts to project trends and potential budgetary excesses.
 
     The proposed combination will result in the exchange of the stock of the
 Artemis subsidiary of Proha for 80% of the post-transaction issued and
 outstanding common stock of Opus360, and is subject to customary closing
 conditions, including the approval of the shareholders of each of Proha and
 Opus360 and the receipt by Opus360 of a fairness opinion.  The transaction is
 expected to close some time in the second half of 2001.
 
     About Artemis Management Systems Inc.
     Artemis Management Systems Inc., a wholly owned subsidiary of Proha PLC,
 is a leading provider of project and resource collaboration solutions.  Our
 unique Business Management Architecture(R) is the only total solution that
 maximizes business performance by helping enterprises transform their
 strategies into results.  Artemis' unique combination of integrated and
 scalable project and resource management software products and consulting
 services is designed to meet IS/IT, capital program and new product
 development application needs.  Artemis(R) provides strategic portfolio
 management and project and resource collaboration solutions to thousands of
 customers worldwide, including Global 2000 companies such as: ABN AMRO Bank
 N.V., American International Group. Inc., BAE SYSTEMS, The Boeing Company,
 Deutsche Bank, Ericsson Inc., The Goldman Sachs Group Inc., The Goodyear Tire
 and Rubber Company, ING Barings, Lockheed Martin, Marconi Plc, Nokia, Pfizer
 Inc., SBC Communications Inc. and Sun Microsystems Inc.  Headquartered in
 Boulder, Colorado, Artemis operates through its international network of
 40 offices in more than 27 countries worldwide.  For more information, visit
 the Artemis Website at www.artemispm.com.
 
     About Proha PLC
     Proha focuses its IT products on management in the Internet age, including
 project management, financial management and Internet technologies.  The
 company was listed on the NM-list of the Helsinki Exchange in October 1999.
 After the listing, the company has grown very rapidly through acquisitions and
 organic growth in sync with its strategy.  The pro forma net turnover of Proha
 is approximately U.S. $90 million.  The Proha Group employs over 600 staff in
 Finland, the United States, Great Britain, France, Germany and Japan.  For
 more information, visit the Proha Web site at www.proha.fi.
 
     About Opus360 Corporation
     Opus360 provides eBusiness software that enables companies to manage and
 acquire skilled professionals strategically.  Recently named one of the top
 100 technology companies by Forbes magazine and one of the top 100
 eProcurement providers by iSource Business magazine, Opus360's software
 enables businesses to get more work done with the employees they have and
 reduce the cost of acquiring skilled professionals.  Opus360 has sold its
 products and services to leading corporations, professional services and
 staffing firms such as Lucent Technologies, Computer Sciences Corporation,
 CompuCom, Computer Task Group and Global Managed Services.  Opus360 is a
 Safeguard Scientifics partner company.  For more information, visit the
 Opus360 Website at www.Opus360.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 Artemis Management Systems' and Opus360's growth
 and profitability, growth strategy, operating expense reduction targets and
 trends in the industry in which Artemis Management Systems and Opus360
 operate.  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 Opus360 with the Securities and Exchange Commission
 including but not limited to those contained under the risk factors section of
 the Opus360 Annual Report on Form 10-K dated December 31, 2000.  Artemis
 Management Systems and Opus360 assume 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.
 
 SOURCE  Artemis Management Systems