November 29, 2004 - Bangalore

MindTree selects Hyderabad as the city for its next development center

The Hyderabad center will have 250 employees by March 2005; will double in 12 months

Bangalore, November 29, 2004: MindTree Consulting, an international IT and R&D Services company, today announced that it has chosen Hyderabad as the city for its next development center.  Hyderabad thus becomes the second city in India where MindTree will have a development center.  MindTree’s India development centers are currently based in Bangalore.

MindTree’s Hyderabad development center will have 250 employees by March 2005.  The strength in this development center is expected to grow to 500 employees in the next 12 months.  MindTree is in the process of identifying a location in the city.

“We expect MindTree’s Hyderabad development center to grow rapidly.  We also believe that this center will be a significant hub in providing world-class services to our global clients,” said Subroto Bagchi, chief operating officer of MindTree Consulting.

“The next few years will be a period of accelerated growth for MindTree.  In order to address our expansion plans we have been considering various cities.  Hyderabad was a natural choice for us due to its large and high-quality talent pool in technology and the initiatives of the state government in creating a positive environment for software companies,” said Ashok Soota, chairman and managing director of MindTree Consulting.

Early this year, MindTree announced an additional campus in Bangalore and made its first acquisition.  MindTree will cross 2000 employees by March 2005 and is growing significantly ahead of the industry.

About MindTree

MindTree Consulting is an international IT company that delivers affordable business and technology solutions through global software development. Co-headquartered in Somerset, NJ and Bangalore, India, the company approaches technology initiatives in a business context, with the industry knowledge of a seasoned management team and employees exceptionally skilled in technology, business analysis and project management.  MindTree Consulting develops applications to help companies enhance their enterprise operations.  The company also delivers R&D services and designs re-usable building blocks for hi-tech companies.  MindTree is the world's youngest company to be assessed at Level 5 in both CMMi and P-CMM.  MindTree has been ranked among the top five Great Places to Work in 2004 in a study conducted by Grow Talent Company and Businessworld.  MindTree has also been rated as one of the Best Employers in India for the second consecutive year in 2004 by Hewitt Associates, please visit www.mindtree.com.