1992
 
 - The Company was incorporated on 10th August, and was promoted by
 Mr.
 Shreeniwas Bangur, Shreekant Bangur, Suraj Ratan Rathi, Partha
 Sarathi,
 Dutta Roy and Dr. V. K. Rungta.
 
 - The Company undertook to set up a 100% EOU for software.  The
 Company
 also placed orders with Software technology park, Dept.  of
 Electronics, Bangalore to provide a dedicated satellite link of 64 K
 BPS for the usage.
 
 1993
 
 - 700 No. of equity share of Rs 10 each issued, subscribed and
 paid-up.
 60,00,000 No. of equity shares of Rs 10 each were then issued at par
 in
 July, of which 15,00,000 shares reserved and allotted to Indian
 directors, their friends and relatives.  Of the remaining 4,50,000
 shares offered to Indian Mutual Funds (None were taken up).  Balance
 40,50,000 shares issued to the public along with 4,50,000 shares not
 taken up by Indian Mutual Funds.
 
 1994
 
 - The Company installed additional workstations and infrastructure
 with
 the view to expanding the business.  It was proposed to set up
 Company's own Private Software Technology Part' by acquiring land
 and
 buildings and additional workstation server and latest communication
 facilities.  The Company undertook to open more offices in Europe
 and
 USA.
 
 1995
 
 - The number of projects under execution were more than 100 and were
 classified under six technology focus groups viz. System software,
 client server technology, networking technology, tandem technology,
 reengineering group and emerging technologies.
 
 - The Company obtained the ISO 9001-1994 certrification in March
 from
 BVQ U.K.
 
 1996
 
 - To provide high quality support to its customers, the Company was
 reorganised into six independent Business Units (IBUS).  They are
 Compaq Development Center, Tandem solution, Applications, Systems
 and
 Networking, Products and Y2K.
 
 1997
 
 - BFL Software (BFL), which develops software in India's Silicon
 Valley
 - Bangalore - Joined the big league after it signed a long-term
 software development agreement with the US-based Compaq Corp.
 
 - BFL Software Ltd, a Bangur Foundation group company, has put on
 hold
 plans to set up an integrated software township near Bangalore.
 
 - The Bangalore-based BFL Software Limited (BFLSL) has set up a
 dedicated software development centre for the US-based Lanier
 Worldwide, specialising in medical documentation management.
 
 - The Bangalore-based BFL Software Ltd (BFLSL) has entered into a
 strategic alliance with two US-based companies in an effort to tap
 the
 international market.
 
 1998
 
 - Baring India Investments Ltd (BIIL) has finally entered into an
 agreement with the promoters of BFL Software Ltd (BFL) on March 26
 for
 acquisition of about 25 per cent paid up capital.
 
 - The international investment bank had entered into an agreement
 with
 BFL Software on March 26, for acquiring 15,04,800 shares (amounting
 to
 about 25.15 per cent of the company's equity).
 
 - BFL Software plans to enter into an agreement with National
 Securities Depository Ltd (NSDL) to enable its investors to
 dematerialise securities.
 
 - BFL Software Ltd, now controlled by Baring India Investments Ltd,
 is
 setting up a subsidiary in Singapore close on the heels of launching
 one in the US.
 
 - The company has set up a subsidiary in the United States recently
 and
 started a consulting practice to offer higher margin services whose
 impact in financial performance will be reflected only next year.
 
 - The Bangalore-based BFL Software Ltd, in an effort to expand its
 operations, is setting up a Japanese development centre and an
 advanced
 centre of excellence in the US.
 
 - The Bangalore-based BFL Software Limited is going to introduce the
 employee stock option plan (ESOP) which will come into effect from
 April, 1999 and would reduce the lock-in period for these shares
 awarded to employees from the usual five years to three years.
 
 - The Company has set up new intiatives in Enterprise Recource
 Planning
 and E-Commerce Embedded Systems and Suppy Chain Management while
 continuing its focus on Systems Software Networking and
 Telecommunications, Healthcare and Retail industry.
 
 - 3,333,333 No. of equity shares of Rs 10 each (prem. of Rs 65 per
 share) allotted to Baring India Investments Ltd., a Mauritius -
 based
 Company.
 
 1999
 
 - BFL has set up an Advanced Centre of Excellence for profiling
 value-added consulting services.
 
 - BFL Software's first product is to be launched in the
 international
 market by the end of 1999.  This will be a healthcare product that
 essentially is a resource scheduling package for hospitals and
 clinics.
 
 - BFL Software recently signed an agreement with NetCommunications,
 a
 subsidiary of Netcard Corporation Berhard of Malaysia, to jointly
 develop and market netKIOS globally.
 
 2000
 
 - The company is setting up eight marketing offices worldwide.
 
 - MPhasiS will become a wholly-owned subsidiary of BFL.
 
 - BFL plans to launch its healthcare software called `Opera' in the
 US
 market in the current quarter.
 
 - The Company has changed its name to Mphasis BFL and reorganised
 its
 operations.
 
 - The Company's Emerging Markets Growth Fund Inc., California
 regarding
 acquisition of 534000 shares of the company aggregating to 5.72% of
 the
 outstanding shares.
 
 - The Company will issue ADR/ADS, on June 6th, Strategic investments
 in
 subsidiaries/joint ventures.
 
 - Mr. Richard Braddock and Prof. Jose de la Torre was appointed as
 Additional Director of the company.
 
 - Holdings Ltd has acquired 65,00,000 shares of BFL Software Ltd.
 aggregating 41.02 per cent.
 
 - Mr. Rahul Bhasin, Chairman resigned on July 14.  Mr. K. 
 Sridharan,
 was appointed as Director.
 
 - Mphasis, a software architecture, integration and implementation
 company, has tied up with BEA System to build financial solutions on
 the BEA E-Commerce Transaction Plantform aimed at exploiting the
 Indian
 and also global financial sector.
 
 - Idea2solutions (I2s), an incubator focused on
 healthcare-technology
 start-ups has formed an alliance with Mphasis, a global software
 architecture, integration and implementation company.
 
 -Mphasis provider of software and system integration Technology has
 appointed Mr Ravi Ramu as Director- strategic initiatives. Mr Ramu's
 considerable experience and expertise would reinforce Mphasis strong
 management team globally, Its chairman and CEO, Mr Jerry Rao said.
 
 2002
 
 -Jerry Rao Chairman-Mphasis BFL appointed to Nasscom's Executive
 Council.
 
 -Mphasis BFL has informed the Exchange that MsourcE has announced
 that
 its Bangalore operations have been certified by KPMG Quality
 Registrar
 for ISO 9001:2000
 
 -Mr. O Venkata Ravi has been appointed as the CS and compliance
 Officer
 of Mphasis BFL Ltd.
 
 -Mphasis appointed Saloman Smith Barney(SSB), the investment banking
 
 arm of citigroup with a mandate to explore for potential investors
 in
 the country.
 
 -Mphasis has signed a agreement for the acquisition of Navion
 (Shanghai) 
 software development company Ltd.
 
 -MsourcE corporation, a subsidiar of Mphasis BFL has entered into a 
 partnership to provide the complete gamut of customer care services
 to the US Women's Chamber of Commerce(USWCC).
 
 2003
 
 -MsourcE Coporation, subsidiary of Mphasis BFL Ltd and Accenture 
 have agreed to work together in India to offer their client world
 class 
 call centre BPO services.
 
 -MsourcE Corporation has opened its new Spanish language call
 centre operation in Tijuana, Mexico.
 
 -MsourcE Corporation has become the first contact centre in the
 country
 to be awarded the BS-7799-2:2002 certification. 
 
 -Mr G N Sarma has been appointed as Company Secretary & Compliance
 Officer of Mphasis BFL in place of Mr O Venkata Ravi.
 
 2004
 
 -Mphasis BFL Limited has informed that the BOD at its meeting held on
 January 08, 2004 has appointed Mr. Nawzhir Mirza as Additional
 Director of the Company till the conclusion of the next AGM.
 
 -Mphasis BFL securities delisted from Bangalore Stock Exchange
 
 -Mphasis achieves SEI-CMMI Level 5 Accreditation
 
 -MphasiS BFL secures top slot in credit rating amidst 400 major cos
 during '02-03
 
 2005
 
 -Mphasis BFL wins SecureSynergy Security Strategist 2005 Award
 
 -Mphasis to acquire Princeton Consulting
 
 -Mphasis BFL sets up BPO facility in Noida
 
 -Mphasis enters Healthcare Insurance & Payments BPO market with
 acquisition of Eldorado Computing Inc
 
 2006
 
 -Mphasis BFL equity shareholders approve Scheme of Amalgamation
 
 -Mphasis BFL Ltd has informed that the name of Company stands changed
 to Mphasis Ltd with effect from November 24, 2006. The changed name
 has been approved by the Registrar of Companies, Karnataka.
 
 2007
 
 - Mphasis Limited has informed that Ms. Vinita Bali has been
 appointed as Additional Director on the Board of the Company.
 
 - Mphasis Ltd has informed that Ms. Vinita Bali has been appointed as
 Additional Director on the Board of the Company.
 
 -Mphasis Ltd has appointed Mr. Thomas Erhardt as an Additional
 Director on the Board of the Company effective August 20, 2007.
 
 -Mphasis Ltd has appointed Mr. Micheal Koehier as an Additional
 Director on the Board of the Company.
 
 2008
 
 - Mphasis Ltd has informed that the Board of Directors of the
 Company, by way of resolution passed by circulation, has approved the
 appointment of Mr. Jim Bridges as Additional Director on the Board of
 the Company effective February 18, 2008.
 
 - Mphasis Ltd has appointed Mr. Anthony Glasby and Mr. Andreas Mattes
 as Additional Directors on the Board of the Company effective October
 08, 2008.
 
 2009
 
 -MphasiS changes its branding identity to MphasiS an HP Company
 
 -Mphasis to acquire AIG Systems Solutions Pvt. Ltd. (AIGSS)