Problem: pcArc/Info 4.0 annotation does not display international characters correctly in ArcMap
Characters outside the standard 7-bit Latin codeset, such as western European and other 8-bit character sets don't display correctly.
With pcArc/Info 4.0 the codepage changed to ANSI instead of OEM which was used for pcArc/Info 3.5.
Solution or Workaround
There is no workaround for this problem within ArcGIS version 8.1. However, this problem has been fixed in version 8.1.2 and higher.