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Butterfield Fulcrum partners with Mindtree to develop best in class technology solutions for the alternative fund administration industry

A new generation of technology solutions to address demand for greater transparency and control within Hedge Funds

November 24, 2009 - Bangalore, INDIA:Butterfield Fulcrum, a top five independent alternative fund administration company, announced it has partnered with MindTree Limited, a global IT Solutions company, to deliver a new generation of technology solutions for the alternative fund administration industry.

With increasing demand for greater transparency and control characterizing the alternative fund administration industry, Butterfield Fulcrum has successfully deployed best in class technology to provide greater flexibility, transparency and control to its customers who include hedge funds, fund of funds, managed accounts, private equity funds and real estate funds. The most recent step in Butterfield Fulcrum's commitment to continuous improvement is the firm's proprietary Enterprise Management System (EMS), a technology application developed in collaboration with MindTree that tracks and controls all customer operations at Butterfield Fulcrum's offices in eight countries.

"In the complex and highly sophisticated segment of financial services, we have leveraged the technological expertise of MindTree to develop solutions that are unique to our industry," said Akshaya Bhargava, Chief Executive Officer, Butterfield Fulcrum. "In doing so, we have effectively combined best practices from the BPO industry with deep understanding of hedge fund administration to deliver incremental value for our customers. Through our EMS, our customer interactions will become data-driven, based on measurement against client deliverables, rather than perception-driven. This also creates a fact-based platform for continuous improvement."

"The development of this new technology solution is an indication of MindTree's ability to deliver world-class solutions and services to the financial services market," said MindTree President and CEO - IT Services, Anjan Lahiri. "MindTree's partnership with Butterfield Fulcrum, in fact, reinforces the commitment of our Banking and Financial Services unit in addressing both the tactical and strategic objectives of financial firms, helping them develop and maintain their technology infrastructure, and overall, simplifying the process of outsourcing."

MindTree has played an integral role in the development and implementation of technology solutions for Butterfield Fulcrum, including development on Investor Central, Butterfield Fulcrum's proprietary investor servicing platform and BFonline, the company's online portal that gives customers access to real-time accounting data and positions, investor statements, risk reports and service metrics.

Butterfield Fulcrum has recently been the recipient of two major industry awards - Best Single Manager Administrator at the inaugural HFMWeek European Service Provider Awards and more recently, Best Administrator for Managed Accounts at HFMWeek's Inaugural US Service Provider Awards. These awards are an affirmation of the Company's innovation and technological excellence.

MindTree helps Banks and Financial institutions to enhance their IT systems, drive operational efficiencies and manage transformational challenges. MindTree offers a variety of IT services for Banks and Financial institutions, ranging from Application Development and Maintenance to Business Intelligence solutions to Legacy Modernization and specialized IT Strategy Consulting. MindTree has partnered large as well as mid size banks and travel companies and in segments like Corporate Banking, Lending solutions, Structured Finance, Cards and Payments as well as several areas in Capital Markets and Investment Services - Hedge funds, Asset Management, Wealth Management, Options trading and Market making.

About Butterfield Fulcrum

Butterfield Fulcrum, a top five independent alternative fund administration company by assets under administration, has 20 years experience servicing the alternative investment industry. It provides administration, middle office and risk reporting services to hedge funds, fund of funds, managed accounts, private equity and real estate funds. The company has a unique Global Operations Model leveraging time zones and talent to deliver transparent and highly customized solutions in real time via BFonline, a client access Web portal. Headquartered in Bermuda, the company services more than 700 funds and has 11 offices in nine countries (Bahamas, Bermuda, Canada, Cayman, Guernsey, India, Ireland, UK and the USA). For more information, please visit www.bfgl.com.

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 our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

About Mindtree

MindTree Ltd. is a global IT Solutions company specializing in IT Services, Independent Testing, Infrastructure Management and Technical Support (IMTS), Knowledge Services and Product Engineering, which comprises of R&D Services, Software Product Engineering and Wireless Products. MindTree partners with its clients to create a transparent, value-based relationship. Our people build innovative solutions in a wide range of technology domains that enable our customers to succeed in their business goals.

MindTree was ranked 45th among the leaders in The 2009 Global Outsourcing 100 by the International Association of Outsourcing Professionals. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Great Places To Work Institute, Hewitt Associates and Mercer. MindTree was ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award winners for the second consecutive year in 2008. MindTree is the winner of the National Award for Excellence in Corporate Governance in India in 2007-08. The Company is publicly listed in India. Please visit us at www.mindtree.com.

Visit us at www.mindtree.com. For more information, contact:

Ashwini Rajeswara
MindTree Limited
91-80-67064000
ashwini_rajeswara@mindtree.com

Jay Russo
LVA Communications
860-739-5598
jay@lva.com