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Real Transformation Forecasted in Retail

Croydon, London, UK, March 12, 2003 -- Real transformation in the retail sector is imminent according to industry thought leaders gathered at events held in London, Palo Alto and New York recently. Unprecedented levels of efficiency and responsiveness in supply chains will transform the sector driven by increased management and investor desire, and new technology deployments, they concluded.

At this series of global events entitled "New Earnings Strategies for Retail Supply Chains", Professor Warren Hausman of Stanford University led nearly 100 leading figures in the sector in discussions about future trends.

Professor Hausman said: "I expect to see real transformation in retail take place quite rapidly over the next few years. Enabling technologies are accelerating the pace with which business and investor desires for flexible supply chains are being realised. Information capture and flow is revolutionising the supply chain by significantly reducing the design to delivery time for retailers keen to respond quickly to customer demand."

Hausman continued; "Retail leaders have always known that the key to market responsiveness is improving the supply chain, giving them greater flexibility in reacting to rapidly changing market needs. Such increased flexibility improves forecasting, hence minimising markdowns and stockouts to maximise earnings. But the retail leader has always had to balance the needs for low cost supply chains, typified by offshore design and production, with the need for responsiveness. Today technology can provide the rich balance required to remain price competitive whilst delivering the flexibility needed to improve earnings significantly."

The event was jointly organised by leading offshore outsourcing company Infosys, retail merchandise planning and optimisation company, Marketmax, and Lead Time Optimization pioneer SupplyChainge.

Sudhir Chaturvedi, retail technology specialist at Infosys said; "Flexible Offshoring has come of age, giving retailers for the first time the sort of reactivity associated with local suppliers, combined with the cost competitiveness of offshoring. Better integration of supply chain information technology is leading retail to transform into a faster, more reactive business abl e to respond to market demands quickly."

Lori Schafer, President and CEO of Marketmax went on; "Effective range planning and continual forecasting enables corporate executives to fine tune the business to hit quarterly objectives. Real visibility of actual data down to every SKU, giving real, live feedback by region, store, department, and even specific in-store location enables corporate executives to be able to react quickly to take advantage of fast moving lines, and minimise the impact of slow moving lines."

John Thorbeck, president and CEO of SupplyChainge concluded; "Retail leaders have been offered a smorgasbord of solutions with vague impact over the years. But let's be clear - efficient, flexible supply chains bring increased revenues, and increased revenues means increased earnings. With Lead Time Optimization orchestrating new technologies, leaders have a tangible opportunity to improve revenues and earnings. Leaders who seize new solutions win, and the race is on."

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 14,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com

Infosys Safe Harbor Provision

Certain statements in this release concerning Infosys' 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, 2002 and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2002, September 30, 2002 and December 31st 2002. 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 statement that may be made from time to time by or on behalf of the company.

About SupplyChainge

SupplyChainge is the creator of Lead Time Optimization (LTOT), a software solution that leverages inbound supply flexibility to manage demand risk, thus tapping the largest source of profits in the retail supply chain. SupplyChainge is unique in its capability to put a cash value to speed and flexibility in merchandise decision-making.

The company delivers the complete software suite that institutionalizes and automates earnings improvements at strategic and operating levels of customer organizations. SupplyChainge is implementing LTO with leading brands, specialty retailers, and direct marketers to transform sourcing from cost center to profit driver.

For more information visit www.supplychainge.com

About Marketmax

Marketmax is the leading provider of advanced retail planning and profit optimization software to the world's leading retailers and their suppliers, keeping them one step ahead of demand. Marketmax's suite of products enables retailers and their suppliers to deliver measurable results in the form of increased margins and profitability, fewer markdowns, improved inventory turns and greater customer satisfaction across all retail channels. Marketmax is respected throughout the retail supply chain for its technology leadership by providing "best in class" solutions and the industry's only truly integrated, web-architected and highly scalable enterprise planning and optimization software.

Marketmax customers include Amazon.com, Charlotte-Russe, Discovery Channel, Eye Care Center of America, The Finish Line, The Home Depot, J Sainsbury plc, Kohl's Corporation, Linens 'n Things, Levi Strauss and Co., Lowe's Companies, Marks & Spencer plc, Pamida Stores, ShopKo Stores, The Spiegel Group, The Sports Authority, Tuesday Morning, Waitrose Food Shops of the John Lewis Partnership, and Williams-Sonoma.

For more information, please visit www.marketmax.com or call our worldwide headquarters at 781- 876-3200. For European sales information, Marketmax can be contacted at +44-1455 823800.

For further information, please contact:

The Americas
Peter McLaughlin
Infosys Technologies Ltd, USA
Phone: +1 213 622 4949, Ext 206

Asia Pacific
Sarah Vanita Gideon
Infosys Technologies Ltd, India
Phone: +91 80 4156 4998

Cristin Balog
Infosys Technologies Ltd, Australia
Phone : +61 3 9860 2277
Antonia Maneta
Infosys Technologies Ltd, UK
Phone: +44 0 207 715 3499

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