Published Date: January 28, 2004

Infosys, Microsoft and Intel Join Hands to Provide Next Generation Ebanking Solutions to Banks in Philippines

Manila/Bangalore, January 28, 2004 Infosys Technologies (NASDAQ:INFY), a leading IT software and consulting firm, today announced that its Banking Business Unit is partnering with Microsoft Philippines, a division of Microsoft Corporation and Intel Microelectronics Philippines. Inc., to provide industry-leading eBanking solutions to banks in Philippines. The three companies, leaders in their respective areas of operation, have joined hands to offer next generation e-banking solutions that are out-of-the-box and ready to be deployed.

The solution is based on Infosys’ Finacle running on Microsoft .NET and Intel platform. This joint initiative is a result of efforts which these companies have been investing in optimizing the solution to deliver and maximize business value and return on investment to their mutual customers. The combined solution offers customers lower total cost of ownership (TCO) and clear time to market advantage gained by deploying a pre-integrated and optimized solution stack. The solution based on Finacle on .NET and Intel platform is proven and has already been chosen in some of the leading banks in Asia and Middle East.

Sanat Rao, Head of Product Management Group, Banking Business Unit, Infosys Technologies Ltd, said, “This association allows us to address the emerging e-banking needs of banks in the Philippines more effectively. In a space like e-banking, globally banks today are looking for solutions that can enable them to differentiate themselves and offer value added services to their corporate and retail customers. Web based cash management, e-trade, corporate and retail instant messaging, mobile payments, etc. are areas that enable banks to provide significant value to their customers, especially the corporates, and in the process earn fee income and create increased stickiness. The Infosys – Microsoft – Intel solution based on Finacle provides banks in Philippines an opportunity to leverage this business opportunity with a solution that is best of breed functionally and technologically. ”

Infosys’ Finacle ebanking solutions address the Retail Internet banking, Corporate Internet banking, Web-based Cash Management, Web-based Trade Finance, Alert Server and Mobile pay space.

About Infosys Technologies Ltd. (NASDAQ: INFY):

Infosys, a world leader in consulting and information technology services, partners with Global 2000 companies to provide business consulting, systems integration, application development and product engineering services. Through these services, Infosys enables its clients to fully exploit technology for business transformation. Clients leverage Infosys’ Global Delivery Model to achieve higher quality, rapid time-to-market and cost-effective solutions. Infosys has over 21,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com or www.finacle.com.