Infosys Technologies Ltd (Nasdaq: INFY) and the Wharton School of the University of Pennsylvania today announced the winners of the Wharton Infosys Business Transformation Awards (WIBTA) 2005 for Asia Pacific (APAC) at Singapore. The "Enterprise Business Transformation Award" was presented to Samsung Electronics for being at the forefront of technology revolution by inventing products that inspire digital integration and "Technology Change Agent Award" was presented to Wu Ying for inventing and introducing very affordable and flexible PHS wireless technology in China.
The awards were jointly presented by Dr. Patrick Harker, Dean of the Wharton School, and Mr. Srinivas Uppaluri, Head - Global Marketing, Infosys Technologies Ltd.
Announcing WIBTA 2005 APAC winners, Mr. Srinivas Uppaluri, Head - Global Marketing, Infosys Technologies Ltd. said, "Information technology is now well established as the cornerstone of an organization's competitive capabilities and has clearly proved itself to be a key driver of shareholder value. Through WIBTA, we aim to recognize and reward business leaders and organization whose achievements showcase the best practices of using technology to create new business paradigms."
Entering its fourth year, The Wharton Infosys Business Transformation Award has over the years applauded pioneering enterprises and individuals who have transformed their businesses and the society by leveraging information technology.
Commenting on the award, Dr. Patrick Harker, Dean of the Wharton School said, "Four years ago, the Wharton School joined with Infosys Technologies Limited to express our shared commitment to business innovation through the establishment of the Wharton-Infosys Business Transformation Awards. We continue to be proud of the partnership that sponsors these awards, and we are delighted to join in honoring the companies selected this year."
About Samsung Electronics.
Samsung Electronics Co., Ltd is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2004 parent company sales of US$55.2 billion and net income of US$10.3 billion. Employing approximately 123,000 people in 93 offices in 48 countries, the company consists of five main business units: Digital Appliance Business, Digital Media Business, LCD Business, Semiconductor Business and Telecommunication Network Business. Recognized as one of the fastest growing brands, Samsung Electronics is the world's largest producer of color monitors, color TVs, memory chips and TFT-LCDs. For more information, please visit
About UTStarcom, Inc.
UTStarcom is a global leader in IP-based, end-to-end networking solutions and international service and support. The company sells its broadband, wireless, and handset solutions to operators in both emerging and established telecommunications markets around the world. UTStarcom enables its customers to rapidly deploy revenue-generating access services using their existing infrastructure, while providing a migration path to cost-efficient, end-to-end IP networks. Founded in 1991 and headquartered in Alameda, California, the company has research and design operations in the United States, China, Korea and India. UTStarcom is a FORTUNE 1000 company. For more information about UTStarcom, visit the company's Web site at www.utstar.com.
The distinguished jury panel for WIBTA includes Wharton Professor Harbir Singh, Edward H. Bowman Professor of Management and Co-director of Wharton's Mack Center for Technological Innovation; David Boyles, Former COO of ANZ Banking Group; Esther Dyson, editor-at-large at CNET Networks; Michael Eskew, Chairman and CEO, UPS and Sir Paul Judge, Director, Schroder Income Fund.
More details on the WIBTA jury and winners are available at www.infosys.com/wibta.
About Infosys Technologies Ltd.
Infosys (NASDAQ:INFY) defines, designs and delivers IT enabled business solutions. These provide our clients with strategic differentiation and operational superiority, thereby increasing their competitiveness. Each solution is delivered with the industry-benchmark Infosys Predictability that gives our clients peace of mind. With Infosys, they are assured of a transparent business partner, business-IT alignment with flexibility, 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 36,000 employees in over 30 offices worldwide. For more information visit
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.
Infosys Safe Harbor
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, 2005 filed on April 26, 2005 and Registration Statement on Form F-3 filed on December 20, 2004, and the amendments thereto filed on January 18, 2005, April 26, 2005 and May 23, 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.