Honourable Chief Minister N Chandrababu Naidu inaugurates Infosys' Hyderabad Development Center

Infosys Technologies (NASDAQ:INFY), the leading IT consulting and software services provider today announced the inauguration of its Development Center in Hyderabad. The Center, spread over 30 acres of land, currently housing 800 Infoscions, was inaugurated by the Honourable Chief Minister of Andhra Pradesh Shri N Chandrababu Naidu.

The state-of-the-art Infosys facility has a built up area of about 3,11,000 sq ft and was constructed in a record time of just nine months. Till date, the company has invested Rs. 73.66 crores in the development of this center. The center offers Infoscions a wide range of facilities including a food court, well-equipped library as well as recreational facilities such as tennis and basketball courts, a gymnasium and steam and sauna facilities. Infosys started its operations in Hyderabad in April 2000 from a rented premise that housed just 5 0 employees. Today the center has the capacity to house as many as 1,525 people. Exports from the Hyderabad Development Center during the last twelve months amounted to Rs 202.92 crores .

The Hyderabad Development Center provides business solutions in a wide range of domains leveraging multiple technology platforms. It includes solutions in ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management), Open Systems, Mainframe, and Internet and Web- based technologies. The technology solutions provided by this center cater to industries such as Financial Services, Retailing, Transportation, and Utilities servicing a large number of clients which include Toshiba, Sony, Siemens, Dell Computer and Microsoft among others.

Infosys Technologies Ltd is a company with a strong sense of social responsibility. In addition to setting up and contributing to the Infosys Foundation, an independent not-for -profit organisation, the company encourages its employees to actively contribute to society. The Infosys Development Center in Hyderabad has undertaken various social projects that include medical camps, construction of school buildings and distribution of sewing machines to women from economically weak backgrounds.

N R Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies Ltd said, "Hyderabad has established itself as a favoured IT destination in the country with its rapidly developing infrastructure and IT-friendly policies. With best-in-class people and world-class facilities, the Infosys' Hyderabad DC is in harmony with the Infosys vision of becoming a globally respected corporation that provides best-o f-breed business solutions, leveraging technology, delivered by best-in -class people."

During the inauguration, Chief Minister N Chandrababu Naidu added, "As part of our vision for Andhra Pradesh, we are committed to creating an all-important IT culture in the state. In the last two years we have ensured a smooth path for IT investors and have encouraged Indian IT companies to set up development centers in Andhra Pradesh. We believe that by attracting global companies like Infosys, the state has made advances towards becoming the IT destination of choice in the sub-continent. We are delighted that today Infosys is inaugurating its world-class campus in the city of Hyderabad."

"The Hyderabad Development Center is on its way to becoming one of the largest IT parks of its kind in India", said Chandra Shekar Kakal, Head - Infosys Development Center, Hyderabad. "The campus is equipped with the latest technologies and solutions for enterprise networking, collaborative software engineering and distributed project management. Our commitment to excellence at the Hyderabad DC will continue to ensure a strong customer focus, excellence in process, product and people quality and growth of the individual."

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 approximately 13,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com

Safe Harbor

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 Quarter Report on Form 6- K for the quarter ended June 30, 2002 and September 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.