Mr. Vikram Talwar, CEO and Vice Chairman, Steven Gruber, Chairman and Mr. Rohit Kapoor, President, CFO and Director of EXL Service Holdings,
Ring The NASDAQ Stock Market Closing Bell

Friday October 20, 2006
at NASDAQ's MarketSite
in New York City.

EXL Service Holdings

Mr. Vikram Talwar, CEO and Vice Chairman, Mr. Rohit Kapoor, President, CFO and Director and Steven Gruber, Chairman (EXLS) preside over the closing bell to celebrate its listing on the NASDAQ.
EXL is a recognized provider of end-to-end offshore services to the Global 1000. The company provides a broad range of services including Business Process Outsourcing (BPO), research and analytics and advisory services. As an end-to-end offshore services company, EXL has carved a niche for itself with its seasoned management and operations team at the core. EXL is an organization that strives to build lasting relationships with its clients based on consistent high-quality service delivery, trust, and confidence that is unparalleled in the industry today. With more than 7,500 professionals spread across five operations centers, EXL specializes in providing offshore services to the Banking, Financial Services, Insurance, and Utilities industry verticals. EXL is headquartered at 350 Park Avenue, New York, NY.

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Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 10/20/2006 Download Hi-Res Quality Photo of this NASDAQ Market Open - Pictured: Mr. Vikram Talwar, CEO and Vice Chairman, Mr. Rohit Kapoor, President, CFO and Director and Steven Gruber, Chairman, ring The NASDAQ Stock Market Closing Bell. These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.