Bangalore, India, February 12, 2005
Infosys today announced that Prime Minister of India, Dr. Manmohan Singh inaugurated its Global Education Centre in Mysore. The Education Centre, one of the largest of its kind in the world, will train technology professionals. Located in the 270-acre Infosys Mysore campus, the centre can accommodate 4,500 trainees at any given time. Infosys' total investment commitment in the Mysore Centre is Rs. 520 crore (USD 119.3 million), of which Rs. 285 crore (USD 65.4 million) pertains to the Global Education Centre complex.
Describing the leadership of Infosys as "role models of India", a visibly elated and impressed Prime Minister said, "Mr N.R. Narayana Murthy is a national icon, a global brand, a source of inspiration for entrepreneurs and a role model for CEOs worldwide."The Prime Minister commended the role of the IT industry in getting India a position on the global map. He lauded the role of IT in breaking traditional mindsets about India's capabilities and cited it as the single biggest reason for India occupying mindshare among the investment community in the world.
Speaking on the occasion, Mr. N. R. Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies Limited, said, "As Finance Minister, Dr. Manmohan Singh was responsible for putting in place the policy framework and liberalizing the economy, which directly led to the emergence of the Indian software industry. As we strive to attain leadership in the knowledge economy, there could be no one more dynamic than Dr. Singh to inaugurate our Global Education Centre. We are honored to have him on our campus."
"The Global Education Centre will train Infoscions on technological and managerial skills, creating high-performing multicultural teams that partner with customers for enhanced competitiveness. The Infosys Leadership Institute, also located on the same campus, will groom and develop future leaders of Infosys," he added.
Governor of Karnataka Mr. T. N. Chaturvedi, Chief Minister of Karnataka Mr. Dharam Singh and Deputy Chief Minister and Finance Minister of Karnataka Mr. Siddharamaiah, were also present on the occasion.
The Global Education Centre can house trainees in 2,350 rooms spread across the campus and has 58 training rooms, 183 faculty rooms, a cyber café and a state-of-the-art library. The education centre will run a 14.5-week residential foundation program, which will impart generic and stream-specific training in various technology areas, along with soft skills and leadership programs, to fresh engineering graduates.
In keeping with Infosys' focus on all-round development, the campus will provide fitness and recreation facilities for Infoscions. The Employee Care Centre on campus houses a gymnasium, table tennis and squash courts, a swimming pool, jacuzzi, bowling alley and meditation hall. The campus also has an international-class cricket ground and a multipurpose ground with a 6-lane synthetic track, as well as basketball, volleyball and tennis courts.
A key highlight of the Mysore campus will be the multiplex and auditorium complex which will have a capacity of 1,300. The complex will also house 3 multiplex theatres with a capacity of 150 seats each.
The Infosys Leadership Institute (ILI) was established to identify and groom future Infosys leaders. As of today, ILI is developing 400 Infoscions at various levels of leadership. Development is based on a unique 'three-tier model' of leadership. The Infosys top management, including the Chairman, the CEO and the Board of Directors, is closely involved in developing the next generation of leaders.
Infosys Mysore, currently employees over 1,590 software professionals. Its revenue for the last 12 months ended December 31, 2004 was Rs. 226 crore (USD 50.1million). The development centre has two software development blocks with video-conferencing facilities, discussion rooms and testing labs.
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.
For further information, please contact: PR_Global@infosys.com