Paris, 18 June 2002
Cardif announced today that it has signed a technology partnership agreement with Infosys, a leading edge Information Technology Consulting and Services company, for the development of its international IT strategy.
This partnership aims to increase the responsiveness and quality of Cardif Information Technology services to aid the development of Bank - Assurance in over 26 countries where Cardif is present.
"We were looking for a leading edge IT partner to support our IT projects at an international level. Infosys' experience in managing large international projects and its excellence in IT development processes were important factors in our decision", explains Stéphane Sorin, Head of International IT, Cardif.
According to Prakash Chellam, Business Development Manager, Infosys Technologies Ltd, in Paris, "We are proud to associate with Cardif - a leader in the insurance sector - as its preferred technology partner for business transformation. Our ability to handle global large scale engagements combined with our business continuity planning, enables us to take on mission critical projects like these, and ensure smooth operations and success, regardless of any eventualities."
Infosys was selected following a call for tender to five IT service providers.
Founded in 1973, Cardif is a global private insurance company, a subsidiary of BNP Paribas. Cardif very quickly established itself as a leading multiple partnership company in many countries. 40% of its 2001 turnover came from abroad, thanks to its presence in 26 different countries. Today Cardif has over 150 institutional partners worldwide.
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 10,000 employees in over 30 offices worldwide. For more information visit www.infosys.com.
Certain statements in this release concerning our future growth prospects are forward - looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed - price, fixed - time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully 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, 2002 and the Quarter Report on Form 6 - K for the quarter ended June 30, 2002. These filings are available at www.sec.gov . 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 statement that may be made from time to time by or on behalf of the company.
For further information, please contact: PR_Global@infosys.com