1. The results for the quarter and year ended March 31, 2008 have been taken on record by the Board of directors at its meeting held on April 21, 2008.

2. A final dividend of 125% (Rs 2.50 per share on par value of Rs. 2 per share) has been recommended at the Board meeting, subject to the approval of the shareholders. The total dividend recommended for the year is 175 % (Rs. 3.50 per share on par value of Rs. 2 per share), including interim dividend of 50% (Re.1 per share on par value of Rs. 2 per share).

3. The Board of directors approved the following proposals for the acquisition of:

i) S&V Management Consultants (“S&V”) a Belgium based SCM Strategy consulting firm for a total consideration of Rs 1415.00 million (equivalent US$ 35.5 million) comprising of an up-front, deferred guaranteed and deferred retention payments. The acquisition will take place through a Company’s subsidiary.

ii) the Market research and Customer Analytics (MR&CA) operations from Caterpillar Inc., USA (CAT) including the related Intellectual Property. The proposed acquisition is for a consideration of Rs 2391.60 million (equivalent US$ 60 million) comprising of initial and deferred consideration.

4. The total manpower strength as on March 31, 2008 stood at 45,969 Associates as against 44,847 Associates as on December 31, 2007 signifying an increase of 1,122 Associates. The number of technical Associates increased by 874 to close the quarter at 43,279 (42,405 Associates as on December 31, 2007).

5. During the quarter ended March 31, 2008, the Company allotted 9,48,073 equity shares of Rs. 2 each, consequent to exercise of stock options by the associates.

6. Figures of the earlier periods, wherever necessary, have been regrouped and rearranged to conform to those of the current period.

B Rama Raju
Managing Director