Cognizant Helps ELetter Inc. Build E-business Offering Fast; Providing Customers with Better Service.

Business & Technology Editors

TEANECK, N.J.--(BUSINESS WIRE)--April 24, 2000

ELetter Provides Clients With Web-Enabled

Outsourcing of Entire Direct Mail Effort

Cognizant Technology Solutions Corporation (Nasdaq: CTSH), a leading provider of e-business solutions, announced today that it has partnered with ELetter Inc., a venture capital funded e-business company, to develop, implement, and manage ELetter's end-to-end e-business marketing solution. Cognizant is listed by Forbes as the "Best Small Company in America."

"We applied our full-lifecycle approach to collaborate with ELetter to create a technology infrastructure that allows it to out-perform and out-price other means of executing direct mail campaigns," said Kumar Mahadeva, Chairman and CEO of Cognizant Technology Solutions. ELetter is an online printing and mailing service that allows small businesses and departments within large companies to launch small-volume mailings right from their desktops. Its fully automated process helps companies save time and money while eliminating the aggravation involved in carrying out traditional mailings. ELetter is able to quickly and effectively serve small business printing and mailing needs whether the campaign is 50 postcards or 10,000 newsletters.

Cognizant is providing high-level technical architecture, application design, development, testing, integration, and application management expertise to ELetter. Cognizant's rapid application development techniques employ a unique on-site/offshore model with project teams in San Jose and India that provide faster development capabilities which result in a "Quick time to market" opportunity to its client.

ELetter couples workflow modeling with the latest digital printing and mailing equipment to eliminate much of the manual labor typically involved in carrying out mailings. Customers can use the real-time cost calculator at ELetter's Web site to get quotes for their job instantly. When they are ready to use ELetter, they simply upload their document and mailing list to ELetter's Web site and ELetter does the rest. This process ensures that orders are produced to the exact requirements of the customer. Address verification, automatic zip code service, printing, folding, stuffing, sealing and postage are entirely automated leaving very little need for old-fashioned manpower.

"Working with Cognizant has allowed us to execute our business plan cost-effectively and in record time," said Manish Mehta, CEO of ELetter. "Cognizant's technical competencies and vast pool of resources have helped us turn our ideas into business solutions."

Cognizant's e-business solutions are facilitated by its on-site/offshore SEI/CMM Level 4 service delivery model, enabling project managers and technical architects at the client's location to communicate with programmers in India, and undertake development and management. The model provides a unique combination of the skills, quality, R&D capability, and 24x7 service required to create integrated e-business systems fast, and in a cost-effective manner. Cognizant's knowledge of EAI, data warehouse and Web-to-legacy integration, domain topology, and e-business application management, helps it to specialize in integrating e-business apps with existing IT systems.

About ELetter

ELetter Inc., the industry's first Internet-based printing and mailing service, allows small businesses and departments within large companies to launch small-volume mailings right from their desktops. Its fully automated process helps companies save time and money while eliminating the aggravation involved in carrying out a mass mailing. ELetter is funded by Artemis Ventures, Bowman Capital Management LLC, Canaan Partners and Trident Capital. The San Jose-based company has established key partnerships with E-Stamp, Intuit, Microsoft, InfoUSA and OfficeDepot. For more information about ELetter, please visit www.eletter.com.

About Cognizant Technology Solutions

Cognizant delivers high-quality, cost-effective, full life-cycle solutions to complex software development and management problems. Cognizant employs more than 2,000 computer science and engineering professionals globally and at its eight development centers in India. The company specializes in e-business and application management. Cognizant has been assessed at SEI/CMM Level 4 and is ISO 9001 certified across all of its development centers. Based on sustained revenue and earnings growth, Forbes magazine named Cognizant the best small company in its listing of the "200 Best Small Companies." For more information, visit Cognizant on the Web at http://www.cognizant.com.

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although Cognizant believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. These statements may involve risks and uncertainties that could cause actual results to differ materially from the expected results. Such risks include, but are not limited to, the risk factors described in Cognizant's Registration Statement on Form S-1 and in other reports and periodic filings made from time to time with the Securities and Exchange Commission.