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Mindtree plans Nearshore presence and announces Mexico Development Center

MindTree's newest facility to expand services to U.S. clients

MindTree Limited, a global IT and R&D services company, announced today announced its intention to open a new development center in Monterrey, Mexico later this year. The new development center will help the company strengthen its nearshore operations in the United States and Latin America. The leading designer and manufacturer of analog and digital technologies has signed on to be the first client serviced from the new location.

"MindTree is growing at a rapid pace both organically and inorganically as reflected by our recent Aztecsoft acquisition. To help support this growth, we are expanding our services and development center locations," said Scott Staples, president and co-CEO of MindTree IT Services. "As part of this initiative, we feel that Mexico is a strategic nearshore location that provides more options to our many North American customers to serve their unique sourcing requirements."

As interest in nearshoring grows in North America, MindTree's Mexico facility will offer customers the benefits of proximity, cultural similarities, low attrition rates, and a strong physical infrastructure and government support. The Monterrey development center will employ approximately 250 people with room for further expansion as client needs demand. Scheduled to open on November 1, 2008, the development center will provide services, including Application Development and Support; Product Development and Support; and Testing.

In addition to the new Monterrey facility, MindTree has recently opened a new development center in Chennai, India, joining MindTree's three development centers in Bangalore. The company has also acquired land in Bhubaneswar to set up a development center. MindTree recently announced its intention to acquire Aztecsoft, which when completed will provide the company additional centers in Bangalore, Hyderabad and Pune.

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 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 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 as the most admired employer by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree is publicly listed in India. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. Please visit us at

For more information, contact:

Ashwini Rajeswara
MindTree Ltd.
Ph: +91-80-26711777