March 27, 2006 - Bangalore

MindTree becomes the first company in India to be assessed for Intellectual Capital Rating

MindTree Consulting, an international IT and R&D services company, became the first company in India to be assessed for IC RatingTM, through a process pioneered by Intellectual Capital Sweden AB (ICS).  Intellectual Capital represents all the value-creating elements in an organization that are not captured in traditional financial statements, but are of critical importance to a company’s long-term profitability and future success.  MindTree’s overall rating, both in effectiveness and renewal, was an ‘A’, and it received the highest possible rating of ‘AAA’ for its management competence.  Overall, MindTree’s rating puts it in the top 12% of all companies worldwide that have undergone this assessment. 

MindTree’s core competencies that came out the highest in absolute terms and with respect to the competition included internet and emerging technologies, creation and integration of IP in short-range wireless and product realization.

Responding to the recognition, MindTree Consulting Chairman & Managing Director, Ashok Soota said, “MindTree sees optimization of our Intellectual Capital as a strategic initiative for bringing value to our customers and as a step in our journey for achieving excellence.”

The rating is based on in-depth interviews conducted by BizWorth, the Indian partner of ICS.  For the rating, 1/3rd weight is given to inputs collected through internal interviews and 2/3rd to those collected through interviews with external entities such as customers, partners, suppliers and investors, among others.  Intellectual Capital Sweden’s Board Member and co-founder Leif Edvinsson commented, “The IC Rating™ score of MindTree indicates that it is not only rich in human capital, but also has the ability to combine it with structure and a strong business model, thus creating an internationally competitive organization.

The various forms of intangibles assessed in the IC Rating are aggregated into four broad areas: human capital, internal structural capital, relational structural capital and business recipe.  For each intellectual capital component, the measures are done in three different areas: effectiveness, renewal and risk.  Knowledge Management processes and systems accelerate the generation and transformation of various components of intellectual capital.

About MindTree Consulting

MindTree Consulting is an international IT services company with development centers in India and the U.S.  The Company provides end-to-end project execution through a hybrid delivery model called OneShore™.

With clients ranging from Fortune 50 companies to enterprise software organizations, MindTree delivers global technology solutions and R&D services to innovative technology leaders around the world.

MindTree has been named the leading service provider in the “Human Capital Development” category by Global Services magazine.  MindTree was also among the top 10 leading service providers worldwide on the publication’s inaugural 2006 Global Services 100 ranking. MindTree has been recognized as one of the fastest growing technology companies in India by Deloitte Touche Tohmatsu in the “Deloitte Technology Fast 50 India” program. MindTree has been ranked among the “Best Companies to Work for in 2005” in the Business Today-Mercer-TNS study. MindTree has also been ranked among “Great Places to Work” for the second consecutive year in 2005 in a study conducted by Grow Talent Company and Businessworld, and as one of the “Best Employers in India” for the second consecutive year in 2004 by Hewitt Associates. MindTree is also the world's youngest company to be assessed at Level 5 in both CMMi and P-CMM.  For more information, please visit www.mindtree.com .