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Mindtree wins prestigious CIO 100 award

September 16, 2008 - Bangalore, India

MindTree Ltd., a global IT and R&D Services company, today announced that it has received the 2008 CIO 100 Award, instituted by IDG India's CIO magazine. The annual award program recognizes organizations that exemplify the highest level of operational and strategic excellence in information technology (IT).

This year's award theme, 'The Bold 100', recognizes executives and organizations who embrace great risk for the sake of great reward. These organizations are playing not just to survive, but to win.

In its ninth year, MindTree has won many a coveted award from esteemed institutions for its differentiated work in varied areas. The CIO 100 Award recognizes the company's highly successful implementation of mPower, an ERP system which is used for everything from Employee self service to Project tracking, Staffing, Billing, Procurement, Expenses, Travel, Payroll and Forecasting. Since its implementation in 2007, the system has matured enough to significantly impact the organization's productivity levels.

MindTree Chief Information Officer (CIO) Sudhir Kumar Reddy said, "We are pleased to be among the coveted CIO 100 Award winners, despite fierce competition from other key players in the IT industry. mPower has created measurable positive impact for almost every enabling function within MindTree. Some of the key points that contributed to its success are:

Our decision to implement an ERP system while we were a young and relatively small company. Our leadership team considered this as necessary plumbing prior to building a large house.
We were steadfast in our approach to build a single integrated system which greatly reduced synchronization challenges while delivering near real time data for decision making.
Choosing SAP as the platform and building a dedicated internal implementation team.

"The Bold 100 honorees stand out because they have dared to take on risk for the chance of reward in challenging business climates," said Vijay Ramachandran, Editor-in-Chief, IDG India. "The CIOs leading these projects are smart, inventive and determined - I offer them my best wishes."

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. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. 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 Ltd.
Ph: +91-80-2671177