Infosys recognized as one of the Most Admired Knowledge Enterprises globally

Infosys Technologies (NASDAQ:INFY) announced that the company has won the prestigious Global Most Admired Knowledge Enterprises (MAKE) Award, for the year 2003. A panel of Global Fortune 500 senior executives and internationally-recognized knowledge management experts chose the 2003 Global MAKE Winners. The 6th annual Global MAKE study recognizes Infosys for developing knowledge workers through senior management leadership and maximizing enterprise intellectual capital.

Infosys is the only company founded and headquartered in India which has been named among the 'Global Most Admired Knowledge Enterprises'. Other winners include Accenture, Amazon.com, BP, General Electric, Hewlett-Packard, McKinsey&Company, Microsoft, Nokia, PricewaterhouseCoopers, Toyota Motor and World Bank. In 2002, Infosys had achieved the distinction of being the only Indian company to have won the Asian MAKE award.

Teleos, an independent Knowledge Management Research Company, administers the MAKE program. The MAKE research program consists of the annual Global MAKE study -- the international benchmark for best practice knowledge organizations, and similar studies at regional/national levels.

Dr. Rory Chase, Managing Director of Teleos, said: "Organizations like Infosys have been recognized as global leaders in effectively transforming enterprise knowledge into wealth-creating ideas, products and solutions. They are building portfolios of intellectual capital and intangible assets which will enable them to out-perform their competitors in the future."

Acknowledging the award, Mr. Kris Gopalakrishnan, Chief Operating Officer and Deputy Managing Director, Infosys Technologies said, "We are delighted to be ranked among the world's Most Admired Knowledge Enterprises in the 2003 Global MAKE study. At Infosys, Knowledge Management has helped us connect people, bring together geographically dispersed work-groups, and create an enduring culture of sharing and caring. It has also provided us a platform for creative and collaborative problem solving, and the means for creating a symbiotic relationship between the individual and organizational objectives for development."

Reacting to the award, Dr. J.K. Suresh, Principal Knowledge Manager, Infosys Technologies said, "It is with pleasure that we acknowledge the singular honor of being ranked as one of the world's Most Admired Knowledge Enterprises in the 2003 Global MAKE study, and bracketed with the best of breed knowledge organizations in the world. Infosys' effort to provide genuine customer value is based on our commitment to innovation and excellence in execution centered on Knowledge Management in its many flavors. Given that our customer provides the basic direction to these attributes, the primary benefits of leveraging Knowledge Management have been in ensuring that our customer's business does better in smaller time frames and with a lower cost of ownership."

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 over 17,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com.

About Teleos - The KNOW Network

Teleos is an independent research firm specializing in knowledge management and intellectual capital management. In 1999, Teleos founded The KNOW Network, a Web-based global community of leading knowledge-based organizations dedicated to achieving superior performance through benchmarking, networking, and sharing best knowledge practices. For more information, visit www.knowledgebusiness.com

MAKE and The KNOW Network are service marks of Teleos

Additional information:

Key Findings of the Global MAKE Study for the year 2003

• The 2003 Global MAKE Winners and Finalists trading on the NYSE/NASDAQ showed a Total Return to Investors (TRS) for the period 1992-2002 of 19.6% - a staggering 2.2 times the Fortune 500 company median
• 2003 Global MAKE Winners and Finalists showed an average Return on Capital Employed (ROCE) of 30.4
• Profits as a percentage of assets for the publicly traded 2003 Global MAKE Winners and Finalists was 5.4 - over five times that of the Global Fortune 500 company median
• Investors believe that the 2003 Global MAKE Winners and Finalists offer long-term potential due to their capability for intellectual capital-driven wealth creation. Twenty Global MAKE Winners and Finalists (57% of the for-profit companies in this year's list) rank in the world's top 100 companies by market capitalization

Safe Harbor Provision

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, 2003. This filing is 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 more information, visit www.infosys.com

Media contacts:

For further information, please contact: PR_Global@infosys.com