Industry stalwart Infosys Technologies (NASDAQ:INFY) today reached yet another milestone in its 23 - year old journey when
the company announced that it has crossed the billion - dollar mark. The company reported impressive revenues of Rs.
4,852. 95 crores or USD 1. 06 billion (FY 2003 - 04). To mark this day, the company organized an evening of celebrations
for its employees, their families and well - wishers across all of its nine development centers in India as well as its
offices across the world. Business leaders and dignitaries from across the country sent their congratulatory messages.
"I am delighted to see Infosys Technologies Ltd becoming a billion dollar company today. This has been achieved against
the intense global competition in the information and communication technology sector. I am confident that Infosys has
a tremendous future with respect to national development. It can contribute in areas of tele - education, tele - medicine
and e - governance. All these areas are vital for ensuring prosperity of the 700 million people living in six hundred
thousand villages", said President Shri A P J Abdul Kalam.
"This is a wonderful achievement. In a sense, it signifies the coming of age of the Indian IT industry which contributes
so much today to India's GDP, to our exports and to the image that India enjoys in the world. I congratulate all
members of the Infosys family on this very special occasion. I am confident that Infosys and the Indian IT industry will
grow from strength to strength", said the Prime Minister of India Shri Atal Behari Vajpayee.
”Ever so often I hear friends exclaim, “if only the rest of our companies were like Infosys …. ”. And rightly so - for in
everyway - its campus; its work culture; its innovativeness; the excellence it has attained; its commitment to ethical,
responsible conduct - Infosys embodies what the rest of us aspire to be. In a word, Infosys is the ornament of the new
India”, said Minister for Disinvestment, Communications and Information Technology, Shri Arun Shourie.
“We in Karnataka are proud to be associated with Infosys, which has emerged as an example of entrepreneurship, ethical
standards and excellence. Infosys has carved out a unique path for itself in many respects. To me Infosys represents
our future. It is what dedication and commitment can achieve against all odds, accompanied by leadership and vision”,
said Shri S M Krishna, Chief Minister of Karnataka.
Infosys Technologies employs 25,634 people and has nine development centers in India, in the cities of Bangalore, Hyderabad,
Trivandrum, Mysore, Pune, Mohali, Mangalore, Bhuvaneswar and Chennai. Infoscions and their families in each of the development
centres in India and offices across the world joined the company’s headquarters in Bangalore to celebrate the billion
- dollar milestone, via videoconference and live webcast. The celebrations were marked by anecdotes, words of wisdom
and motivational messages delivered by senior management, founders, Infosys’ first customer, early investors and children
of Infosys employees. This was followed by a night of music and culture at each of the centers. In Bangalore, renowned
artists Alka Yagnik and Kumar Sanu and performed for the Infosys family.
About Infosys Technologies Ltd. (NASDAQ: INFY)
Infosys is a leading global technology services firm founded in 1981. Infosys provides end - to - end business solutions
that leverage technology for our clients across the entire software life cycle: consulting, design, development,
re - engineering, maintenance, system integration, package evaluation and implementation. In addition, Infosys offers
software products to the banking industry, as well as business process management services through its majority - owned
subsidiary, Progeon. For more information, visit us on the World Wide Web at
Safe Harbor Provision
Certain statements in this release related to the Offering constitute forward - looking statements. This Offering is subject
to shareholder approval, which may not be obtained. Although the Offering is expected to be made to our equity holders
in India, we may be required to exclude certain equity holders outside India to comply with U. S. rules and regulations.
Our business is subject to a number of risks and uncertainties that could affect our future operating results including
those described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20
- F for the fiscal year ended March 31, 2004 and on Form 6 - K for the quarter ended June 30, 2004 and September 30,
2004. These filings are available at
. Infosys may, from time to time, make additional written and oral forward - looking statements, including statements
contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company
does not undertake to update any forward - looking statements that may be made from time to time by or on behalf of the