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Mindtree wins the National Award for Excellence in Corporate Governance for 2007-08

December 22, 2008 - Bangalore, INDIA

Recognized for best governance among publicly listed companies in India

MindTree Limited, a global IT and R&D services company, announced today that it has been declared the winner of the National Award for Excellence in Corporate Governance for 2007-08. The award was presented to MindTree Chairman & Managing Director Ashok Soota by the Vice President of India Mohammad Hamid Ansari in New Delhi on December 19, 2008.

The National Award for Excellence in Corporate Governance is given by the Institute of Company Secretaries of India (ICSI) to the top two companies every year. MindTree was declared the winner by a panel of eminent members from the industry and regulatory bodies. The recognition was based on multiple criteria such as ethical business conduct, transparency, integrity, maintaining sustainable relationships with all stakeholders in its corporate family, corporate social responsibility and future vision.

"We are delighted to win this award that recognizes our efforts in good corporate governance. The jury particularly noted our clearly articulated and implemented values, and our inclusive approach wherein the interests of all our stakeholders are protected and nurtured," Soota said. "This award is a special one for us. We believe strong corporate governance will take us closer to our vision of becoming one of the most admired companies not just in India but across the globe."

The hallmarks of MindTree's Corporate Governance philosophy are ethical business conduct, transparency and commitment to values, which in turn retain and enhance stakeholders' trust. The organization's value system, termed CLASS (Caring, Learning, Achieving, Sharing, Social Responsibility), lies at the core of it.

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 Limited is a global IT and R&D Services Company co-headquartered in the U.S. and India. With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship. Our domain experts deliver business-enabling solutions by leveraging a consulting led, framework-based and IP-driven approach. MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments. Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services. MindTree has acquired an 80% equity stake in Aztecsoft Ltd., a global leader in outsourced product development and independent testing. The Company intends to complete the merger by April 2009.

MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management, and the National Award for Excellence in Corporate Governance. MindTree 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
+91-80-67061000
ashwini_rajeswara@mindtree.com

Anya G. D'Souza
Corporate Voice | Weber Shandwick
+91-9845525632
anya@corvoshandwick.co.in