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Pune, April 13, 2005

MphasiS is working very closely with the cyber branch of the Pune police, and also with NASSCOM and the client bank, to ensure that all those involved in the bank fraud in Pune are brought to book. MphasiS will spare no effort to ensure that employees, past or present, involved in this distressing episode are brought to justice.

“We are co-operating fully with the cyber police and doing everything possible in cooperation with all concerned to ensure that the perpetrators of the crime are apprehended and brought to justice,” an MphasiS spokesperson said.

MphasiS is a company that highly values data protection and data security of its clients. It has proactively instituted elaborate systems which are constantly reviewed, to ensure and protect client confidentiality. “We are therefore most distressed that the current incident should have happened,” the spokesperson added.

“MphasiS has taken this incident with all the seriousness it deserves from Day One. We have instituted our own internal inquiry and taken necessary short-term and long-term measures in consultation with NASSCOM and the bank concerned, to protect our clients and their customers, and safeguard the security and integrity of the BPO business in India. We will await the full outcome of the police investigation as well as the parallel inquiries in progress,” the spokesperson said.