Wharton Infosys Business Transformation Awards 2004 honour innovative users of technology

European winners: Sir Robin Saxby, Chairman, ARM Holdings plc and S P Korolev Rocket and Space Corporation Energia

Moscow, May 21, 2004

Infosys Technologies Ltd (Nasdaq: INFY) and the Wharton School of the University of Pennsylvania announced the winners of the Wharton Infosys Business Transformation Awards (WIBTA), 2004, Europe. These awards recognize visionaries and Global 2000 organizations that use technology creatively to revolutionize their industries.

The winners from Europe were announced at the Marriott Royal Aurora Hotel in Moscow on 21 May 2004. Awards were given for two categories: “Enterprise Business Transformation Award and Technology Change Agent Award.

S P Korolev Rocket and Space Corporation Energia , (known as “Energia”) won the “Enterprise Business Transformation Award”. This award recognises an organisation that has made the best use of IT for business transformation. Judges were impressed by the way in which Energia established unprecedented communication between scientists from different parts of the world through technology innovation on the MIR Manned Orbital Station. Many international research programs were implemented on the Station since 1987. Astronauts from France, Syria, Afghanistan, Bulgaria, Japan, Great Britain, Germany, Kazakhstan, Austria, USA, Canada and country members of the European Space Agency took part in the implementation of different programs directly aboard the station.

Sir Robin Saxby, Chairman, ARM Holdings plc won the “Technology Change Agent Award”. This award recognises an individual who has been a key driver in using technological innovation as a tool for business transformation. The WIBTA jury was unanimous in its decision to award Sir Robin the Technology Change Agent Award in recognition of his work in providing customers with a technology framework that promotes reliability, supply chain efficiency, cost reduction and innovation. Sir Robin has won numerous accolades including a knighthood and the 2002 IEE Faraday Medal in recognition of his outstanding contribution to the electronic engineering industry.

Announcing WIBTA 2004 Europe winners, N R Narayana Murthy, Chairman of Infosys Technologies Ltd and member of the WIBTA jury said “Technology has the power to improve efficiencies, customer relationships and give businesses a completely new perspective. It has the power to transform visions and aspirations into reality. The Wharton Infosys Business Transformation Awards recognize corporations and individuals who have taken a lead in internalizing this power through various creative initiatives.”

Applications were judged by a panel that includes thought leaders such as Esther Dyson, Chairman of EDventure Holdings, Sir Paul Judge, Chairman, Schroder Income Fund, N. R. Narayana Murthy, Chairman of the Board, Infosys Technologies Ltd and Dr. Harbir Singh, Co - director of the Mack Center at the Wharton School of the University of Pennsylvania. The panel also includes industry leaders such as Michael Eskew, Chairman and CEO, United Parcel Services (UPS), and David Boyles, Founder and Principal, CXO Technology Advisory, Pty Ltd.

Winners in the North America and Asia Pacific regions will be announced in June.


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 more than 25,000 employees in over 35 offices worldwide. For more information, visit www.infosys.com


About the Wharton School of the University of Pennsylvania and the Mack Center for Technological Innovation

The Wharton School of the University of Pennsylvania is recognized around the world for its academic strengths across every major discipline and at every level of business education. Founded in 1881 as the first collegiate business school in the nation, Wharton has approximately 4,600 undergraduate, MBA and doctoral students, more than 8,000 participants in its executive education programs annually, and an alumni network of more than 80,000 worldwide. Bringing together leaders from business, government, and labor, the Mack Center provides a forum for probing critical issues, discussing research, and planning future study. As the umbrella organization for all of Wharton's technology management initiatives, the center supports the research and publishing activities of Wharton faculty members, and supports a student - run conference. For more information, visit www.wharton.upenn.edu.


Safe Harbor Provision

Certain statements in this release related to the Offering constitute forward - looking statements. This Offering is subject to shareholder approval, which may not be obtained. Although the Offering is expected to be made to our equity holders in India, we may be required to exclude certain equity holders outside India to comply with U. S. rules and regulations. Our business is subject to a number of risks and uncertainties that could affect our future operating results including those 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, 2004 and on Form 6 - K for the quarter ended June 30, 2004 and September 30, 2004. 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 statements that may be made from time to time by or on behalf of the company.


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