MphasiS Targets US $6 million Revenues in First Year of Operations

To Introduce eBusiness Solutions for Indian Industry

Pune, November 10, 1999: MphasiS co-founder and Chairman, Jerry Rao, announced that the Company will achieve its target of US $6 million in revenues by December 1999 - when it completes its first year of operations. Announcing this at a briefing to media immediately after the MphasiS Board Meeting in Pune, Jerry Rao also stated that following the Company's successes in providing e-business solutions to U.S. and European businesses, MphasiS now plans to introduce e-business solutions for companies and institutions in India - anticipating the high-growth potential for e-business in this country.

Until now, India was primarily MphasiS' largest development base for detailed design, development and support required to provide web-enabled solutions for global companies, including start-up Internet ( companies. MphasiS' top priority in India is to now closely work with companies and financial institutions/banks to develop e-business solutions that can become a critical business tool by leveraging the power of the Internet with its cost-savings benefits, to deliver enterprise-wide customer relationship management and channel integration solutions.

Delivering Personalised E-business Solutions for India

With its in-depth domain knowledge of the financial industry, media and companies as well as experience with large scale customer relationship management and channel integration projects and architecture, design and development capabilities, MphasiS is confident of delivering personalised e-business solutions to its customers in India and across the globe.

Addressing mediapersons in Pune earlier today, Jerry Rao, said that MphasiS could best be described as belonging to a new breed of boutique technology companies called "Interactive Architects". "A recently conducted PriceWaterhouse Survey among 800 global CEOs at the World Economic Forum in Davos, revealed that 4 out of 10 CEOs estimated that 10% of their business revenues would be from e-business over the next five years. This really presents Indian companies with enormous and exciting opportunities that can be aligned with our core competency of developing and providing personalised e-business solutions -- effectively integrating the concept of Customer Relationship Management to provide Just-in-Time One-to-One Marketing."

In his briefing to the media, Jerry Rao also highlighted that trends over the last one year have indicated that the web provides every company a great opportunity to integrate offerings across channels in order to create a customer experience based on Customer Relationship Management, where web-driven technologies jointly with Customer Relationship Management can radically transform and personalise any company's offering to its customers.

With a team of 250 persons across the U.S., Europe and Asia, MphasiS' Solutions Division is responsible for the design and management of component frameworks for web-enabled service delivery and customer relationship management, while MphasiS' Fulfillment Division manages project execution.