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Mindtree ranked among top five global R&D services providers

September 21, 2009 - Bangalore, INDIA

MindTree Ltd., a global IT Solutions Company, today announced that it has been named among the top five global R&D services providers, by Zinnov Management Consulting Pvt. Ltd., in a recently released first-of-its-kind ranking of the Top Global R&D Services Providers across geographies like India, China and Eastern Europe.

In addition to listing MindTree among the top five global R&D services providers, the report also ranks MindTree among the leaders in a number of vertical industries. MindTree ranks among the top three R&D services providers in the Software, Semiconductor and Healthcare markets, and among the top five in the Consumer Electronics segment.

"In order to help business leaders in spearheading global engineering initiatives in their organizations and to facilitate them in identifying right partners, thereby helping enable them serve customer needs better, we at Zinnov, looked at conducting this first-of-its-kind study," said Pari Natarajan, Chief Executive Officer, Zinnov Management Consulting Pvt. Ltd. "I would like to congratulate MindTree for making it to the top five global ranking, which reflects their financial strength and robust capabilities, encompassing business models, innovation and expertise, people strength and operations."

"MindTree has grown its R&D services business by investing in intellectual property (IP), R&D building block techniques and domain expertise that ease the engineering burdens of our technology partners and help them realize faster time-to-market with their products," said MindTree President and Group CEO, Product Engineering Services, S Janakiraman. "It is extremely gratifying to be ranked as one of the top five global R&D services providers by Zinnov, which once again validates MindTree's strong position in the market as a mid-sized alternative to the largest offshore providers."

MindTree's R&D Services business unit offers technology companies domain-specific, end-to-end services ranging from IP-led Services, to Semiconductor and Hardware Engineering, Software Engineering and Testing. MindTree's technology building blocks, in the form of IP and frameworks, help bridge technology gaps and bring products to market faster.

For an overview of MindTree's R&D service offerings, please visit http://www.mindtree.com/randdservices/index.html.

The 'Global R&D Services Providers Ratings' was undertaken by Zinnov to help its Fortune 1000 clients better understand the R&D services being offered in the market; the partners they should work with for innovation of new products; and the partners that are best in class in each vertical and overall. Zinnov collected and analyzed data from 50 R&D services providers across India, China and Eastern Europe to arrive at its overall ranking of the top 20 partners.

About Zinnov Management Consulting Pvt. Ltd.

Founded in 2002, Zinnov - meaning Zeal in Innovation - is a leading management consulting company providing services in the area of Offshore Advisory, Market Expansion and Human Capital Optimization to Fortune 1000 companies. Zinnov works collectively with clients to tackle prevailing organizational challenges by analyzing the changing dynamics, improving performance, and building institutional capability. The services delivered to its clients through advanced reasoning and analytical techniques, provides solutions that help in integrating organizational vision, business definition and processes.

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 and Software Product Engineering. 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