Bangalore, February 15, 2005
GAIL (India) Limited and Infosys Technologies Limited announced that they have entered into a Memorandum of Understanding to jointly develop information technology solutions in the retail gas business. The MoU aims at development and commercialization of software to manage the retail natural gas business across all categories of customers worldwide.
The initiative will include development of information technology solutions for system safety management, system integrity management and customer services. The two companies will also jointly impart training to clients for the use of software and other services. Infosys and GAIL will form a joint working group to work out the modalities of creating a software solution for the Retail Gas/ Liquefied Petroleum Gas (LPG) market.
Speaking on the occasion, Mr. Proshanto Banerjee, Chairman and Managing Director, GAIL said, "We are pleased to partner with Infosys Technologies because of their rich domain understanding of the energy industry, expertise in building software solutions and their execution excellence. The synergies between the two companies will help create business solutions that address the pain points of our customers globally."
Commenting on the partnership, Mr. Nandan M. Nilekani, CEO, President and Managing Director, Infosys Technologies Ltd., said, "Infosys' focus is on developing industry-specific solutions to better respond to customer needs. By working together with GAIL, we will be able to leverage their knowledge of the retail gas business and together create solutions to provide GAIL's customers with a competitive edge."
GAIL India Limited (GAIL) is India's largest natural gas transmission, distribution, marketing and processing company. It also has diversified operations in integrated energy and petrochemical activities. The company has expertise in natural gas infrastructure development and owns, operates and maintains the country's major natural gas pipeline network. GAIL is a leading marketer of natural gas with a large customer base in India. The company operates more than 9,000 km of Optical Fibre Cable (OFC) system in the country and has Infrastructure Provide II and Internet Service Provider licenses from the Department of Communications (DOT). The OFC system will expand with the development of the interstate pipeline grid and the accelerated development of retail markets. The OFC system will provide excellent facilities for IT-related services to GAIL's customers, corporate bodies and retails markets/consumers and others. For more information, visit http://www.gailonline.com.
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 35,000 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, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, 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 and regional conflicts, 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, 2004 and on Form 6-K for the quarters ended June 30, 2004, September 30, 2004, and December 31, 2004 and Registration Statement on Form F-3 filed on December 20, 2004 and January 18, 2005. 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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