Infosys ranked no. 1 in cg watch 2004, a corporate governance survey of large cap corporations in Asia by CLSA

Bangalore, India - September 20, 2004

Infosys Technologies Limited (NASDAQ: INFY), announced that it has been voted in a survey conducted by CLSA, as having the highest Corporate Governance score amongst all the Asian large - cap corporations (excluding Japan). The survey covered the Corporate Governance developments across 450 companies in the Asian (excluding Japan) markets. Infosys had a score of 87% as against an average of 81% for the top ten corporations.

As per the report, Infosys continues to be the highest scorer in India and the Asia Pacific, having essentially maintained its top ranking since 2001. The company has continued to stay a step ahead of the prevailing Corporate Governance norms and has implemented most of the reforms before they became mandatory. Its disclosure standards – detailed segmental data, presentations of accounts as per GAAP of eight countries detailing cost break - ups, are among the best in the industry. It also provides the detailed manpower data – age profiles, experience, education levels and gender mix which are very important in its space. It is one of the few companies in India to have a nominations committee.


About Infosys Technologies Limited

Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 1,00,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit


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 Opens in new window . 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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