Exhibit No. 99.1

                                                                    NEWS RELEASE

COMPANY CONTACT:
Bill Bush
International Microcomputer Software, Inc.
415.878.4039
E-mail: bbush@imsisoft.com

                     IMSI(R) ANNOUNCES THIRD QUARTER RESULTS

NOVATO,  Calif.,  May 8, 2003 - IMSI(R) (OTC "Bulletin Board":  IMSI), a leading
developer of visual  content,  design,  and graphics  software,  today announced
financial  results  for its third  fiscal  quarter  ended March 31,  2003.  IMSI
reported a net loss of $103,000 on net  revenues of $3.9  million.  Net revenues
increased by $285,000, or 8%, for the three-month period ended March 31, 2003 as
compared to the same period from the previous fiscal year. The Company generated
$335,000 of EBITDA for the quarter  ended March 31, 2003 as compared to $480,000
in the prior comparable period.

Revenue from IMSI's wholly owned subsidiary ArtToday.com,  Inc. increased 31% to
$1.4  million for the quarter  ended March 31, 2003 as compared to $1.1  million
for the three months ended March 31, 2002  reflecting the continued  strength of
its network of domain names and web sites. The growth in ArtToday's  revenue was
mainly due to the launch of Photos.com. Revenues for the quarter ended March 31,
2003 from IMSI's wholly owned  subsidiary,  Keynomics,  Inc., were $442,000,  an
increase of 85%, as compared to the same period from the  previous  fiscal year,
reflecting the continued strength of the Keynomics product offering.

Revenues  for the nine  months  ended  March 31,  2003 were  $10.6  million,  an
increase of 13% as compared to the same period from the prior fiscal  year.  The
net loss,  excluding gains from the  extinguishment of debt, for the nine months
ended March 31, 2003 was  $859,000 as compared to $754,000  from the  comparable
prior year period.

Deferred  revenues  recorded on the balance  sheet,  which will be recognized as
revenue over the next twelve months, grew to $1.8 million at March 31, 2003 from
$1.3 million at June 30, 2002, reflecting the ongoing strength of the underlying
business.

"With the settlement of the Company's three remaining legal disputes,  including
the removal of the $2.7 million  Imageline  judgment and related liens,  we have
completed the  restructuring  of the Company," stated IMSI CEO, Martin Wade. "We
continue to strengthen the balance sheet and make improvements in the underlying
business and product offerings of the Company.  The Company is in the process of
raising  additional debt financing to help fund the growth of  ArtToday.com  and
retire long term liabilities".

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--------------------------------------------------------------------------------
Summarized Financial Statistics                    Three Months Ended March 31
-------------------------------                ---------------------------------
                                                 2003    2002         Change
                                                 ----    ----         ------
                                                                     $       %
                                                                   -----   -----
Consolidated Net Revenues                      $3,946   $3,661     $285       8
ArtToday Revenue                                1,413    1,082      331      31
Net Income (Loss)                                (103)      68     (171)   (252)
EBITDA                                            335      480     (145)    (30)
--------------------------------------------------------------------------------

About IMSI

Founded in 1982, IMSI has established a tradition of providing the  professional
hand home user with innovative technology and easy to use, high quality software
products at affordable  prices.  The company maintains three business  divisions
for Graphic Design,  Visual Design and Business  Applications  and produces many
popular  software  titles   including   TurboCAD(R),   FloorPlan(R)   HiJaak(R),
FormTool(R),   and   FlowCharts&More(R).   IMSI   also   owns  the   subsidiary,
ArtToday.com,  Inc., the LARGEST subscription-based graphics resource on the web
with over 2,500,000  clipart  images,  animations,  photos,  fonts,  and sounds.
ArtToday.com  also maintains a network of graphics  related  websites  including
Photos.com  (www.photos.com),  ClipArt.com  (www.ClipArt.com)  and  Graphics.com
(www.graphics.com).

More information about IMSI can be found at www.imsisoft.com.

IMSI and ArtToday  are  registered  trademarks  of  International  Microcomputer
Software,  Inc. and  ArtToday,  Inc,  respectively.  All other  products are the
trademarks or registered trademarks of their respective owners.

(C)2003 International Microcomputers Software, Inc. All rights reserved.

Safe Harbor Statement

This  announcement  contains  forward-looking  statements  within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange  Act of  1934.  Actual  results  could  differ  materially  from  those
projected  in the  forward-looking  statements  as a result of  various  factors
including  the  ability of the  company to  successfully  commercialize  its new
technologies as well as risk factors set forth under "Factors  Affecting  Future
Operating  Results" in the  company's  annual report on Form 10-K and such other
risks  detailed  from  time to time in the  company's  reports  filed  with  the
Securities  and Exchange  Commission.  The company  undertakes  no obligation to
publicly   release  the  result  of  any  revisions  to  these   forward-looking
statements,  which may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

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