NEW YORK, N.Y.—Infosys Technologies Limited (NASDAQ: INFY) announced today that the Sponsored Secondary issue of 5,218,000 American Depositary Shares (ADSs), representing 2,609,000 equity shares was priced at US$ 49.00 per ADS. Infosys is the first Indian company to convert local listed shares to ADSs.

The underwriters have a seven-day option to purchase up to 782,000 additional ADSs, representing 391,000 equity shares for the sole purpose of covering over-allotments, if any.

Infosys will not receive any proceeds of this offering and the net proceeds after the issue expenses would be returned to all the selling shareholders in due course. The unallocated shares, if any, would be returned to all the selling shareholders after the completion of the seven-day over-allotment period.

"NASDAQ is the home of category defining companies like Infosys which have grown within our market," said Bruce Aust, Executive Vice President, NASDAQ Corporate Client Group. "With a strong and diversified group of companies based in the region, India is at the forefront of economic reforms and poised for continued expansion. We at NASDAQ believe that our market is the natural home for such growth companies."

The offering was lead-managed by Citigroup Global Markets Inc., Goldman Sachs (Asia) L.L.C. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, while Deutsche Bank Securities Inc and UBS AG were the co-managers to the issue. Enam Financial Consultants Private Limited was the Indian financial advisor to Infosys. Deutsche Bank Trust Company Americas is the Depositary Bank for the Company's ADSs.

A copy of the final prospectus may be obtained by writing to the offices of Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013; Goldman Sachs (Asia) L.L.C., 68th Floor, Cheung Kong Centre, 2 Queen's Road Central, Hong Kong; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, World Financial Center, North Tower, New York, New York 10281-1332.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Infosys
Infosys is a leading global technology services firm founded in 1981. Infosys provides end-to-end business solutions that leverage technology for our clients across the entire software life cycle: consulting, design, development, re-engineering, maintenance, system integration, package evaluation and implementation. In addition, Infosys offers software products to the banking industry, as well as client business process management services through its majority-owned subsidiary, Progeon. For more information, visit us on the World Wide Web at www.infosys.com.

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