MphasiS Chairman & CEO Jerry Rao and Vice Chairman Jeroen Tas were awarded the 'Ernst & Young Entrepreneur of the Year 2004®' in the Information Technology category for the New York region on June 22nd, 2004.

Professional services firm Ernst & Young LLP announced the winners of the Ernst & Young Entrepreneur of the Year® 2004 Award at an awards gala held at the Marriot Marquis. The winners were selected by an independent panel of judges comprised of local community and business leaders.

“Winning this award is a great honor,” said Jerry Rao, who also won the 'Entrepreneur of the Year' award two years ago in India. “This second award is a confirmation of Ernst & Young’s understanding of the truly global nature of businesses today.”

Jeroen Tas said, “We thank the judges and Ernst and Young for this great honor. Jerry and I founded our company in 1998 to assist financial services institutions in improving their business processes through technology. Today, we are a 7,000 employee strong company, which is growing over 35% annually. We are proud to count some of the best companies in the world as our clients and will continue to make outstanding delivery to these companies our single focus.”

The New York award winners are now eligible for consideration for the 'Ernst & Young Entrepreneur of the Year 2004' national program. Winners in several national categories, as well as the overall national 'Ernst & Young Entrepreneur of the Year', will be announced at the annual awards gala in Palm Springs, Calif., in November 2004. The overall national 'Ernst & Young Entrepreneur of the Year' award winner is then considered for the world event held in Monte Carlo.