Punit Sood Appointed as President, IT Services, MphasiS

Mumbai, August 10, 2004

MphasiS, a leading provider of system integration technology and BPO solutions for customer-focused corporations, has announced the appointment of Punit Sood as President, IT Services, MphasiS.

Punit will be responsible for heading MphasiS’ global IT Services business, and for driving the growth in that business area. Punit joins MphasiS from Capital One’s India Liaison Office where he was Chief Operating Officer. In addition to managing the India operations of Capital One, Punit also performed the function of Business Information Officer.

Jerry Rao, Chairman and CEO, MphasiS said, “We are delighted to have Punit head our IT Services function and are confident that the experience he brings with him in his area of specialization will drive MphasiS’ leadership and growth in the IT industry. With his deep insight and understanding of the needs of the industry as well as his business-focused approach, we are confident that our IT Services team, under his leadership, will provide clients with innovative solutions and platforms to meet their varied and evolving needs.”

Punit has spent over 16 years in the Information Technology space and has successfully led the Information Technology divisions of several Fortune 500 companies. His expertise in the financial services arena, is particularly notable. Speaking on his appointment, Punit said, “MphasiS’ unique positioning in the IT Services, BPO, and Solutions space, as well as the vision of the company was a key factor in my taking on this challenging and critical assignment”.

Punit was Director of Information Technology for the Asia Pacific operations of Carrier Corporation (a division of United Technologies Corporation) and was responsible for all internal and customer/supplier facing IT and e-Business initiatives. He has also been CIO of GE Capital’s Indian operations where his role included providing a robust IT infrastructure to all the business in India, forward planning to support business growth, providing thought leadership to the organization and piloting the roll-out of new technologies.

He has also served as Chief Technology Officer, HCL-Deluxe and prior to that headed the IT function for Citibank’s consumer businesses in India.

Punit has a BE in Electronics from Indian Institute of Technology - Roorkee, India, and an MBA from the Indian Institute of Management, Ahmedabad, India.