Cognizant Signs National Partnership Agreement with Blue Cross and Blue Shield Association.

Business Editors

TEANECK, N.J.--(BUSINESS WIRE)--Feb. 10, 2003

Cognizant's unique business model and deep healthcare experience

helps bring strong business & technology value to

Blue Cross Blue Shield Plans

Cognizant Technology Solutions Corporation (Nasdaq: CTSH), a leading provider of custom software development, integration and application outsourcing services, announced today that it has entered into a multi-year national agreement with the Blue Cross and Blue Shield Association (BCBSA) under which BCBSA will promote Cognizant's services to its 42 member Plans.

"One of the objectives of the business development group at BCBSA is to support our member plans by identifying high quality, cost effective providers of IT products and services," said Steve Boyce, Director of Business Development at BCBSA. "Over the past year, we have closely tracked Cognizant's rapidly growing success in the healthcare marketplace. Cognizant is a strong player with significant payor experience in key areas such as transaction processing, application integration and CRM."

Cognizant was chosen as a national business partner for its industry leading 4th generation application outsourcing model. Cognizant is focused not just on technology, but also on delivering measurable business results through deep healthcare industry expertise and a unique "can-do" culture. Cognizant's Blue Cross and Blue Shield clients include Horizon Blue Cross and Blue Shield of NJ, Blue Cross of Northeastern Pennsylvania, and Premera, as well as over twenty additional healthcare customers.

"Cognizant has the strongest and largest healthcare payor practice in the offshore space," said Kumar Mahadeva, Chairman and CEO of Cognizant Technology Solutions. "Cognizant can provide end-to-end IT strategy and implementation services for the Blues that can help them dramatically reduce costs, rationalize and optimize their applications portfolio, improve customer acquisition and retention, and prepare for HIPAA and e-Health."

Cognizant's model is built around establishing a long-term close partnership with clients. Senior client partners consult with clients and are empowered to make strategic technology decisions directly with clients to help them meet their business objectives. Cognizant's executive management is also headquartered in the US and Europe, in close proximity to clients. Compared with other companies, clients find Cognizant's model more responsive and easy to work with, resulting in extremely high client satisfaction and retention.

Cognizant is the top-ranked offshore consulting company in the Healthcare Informatics Top 100.

About Blue Cross and Blue Shield Association

The Blue Cross and Blue Shield Association is composed of 44 independent, locally operated Blue Cross and Blue Shield Plans that collectively provide health care coverage to 81 million - one in four - Americans. For more information on Blue Cross and Blue Shield Association and its Member Plans, please visit www.BCBS.com.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corp. (Nasdaq: CTSH) is a leading provider of custom information technology design, development, integration and maintenance services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant provides applications management, development, systems integration and business process outsourcing services through its onsite/offshore outsourcing model.

Cognizant's more than 6,100 employees are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and Ireland, and onsite client teams. Cognizant maintains P-CMM and SEI-CMM Level 5 assessments from an independent third-party assessor and was recently ranked as the top information technology company in Forbes' 200 Best Small Companies in America and in BusinessWeek's Hot Growth Companies. Further information about Cognizant can be found 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. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Potential risks and uncertainties that could cause or contribute to differences include, but are not limited to: (i) the significant fluctuations of Cognizant's quarterly operating results caused by a variety of factors, many of which are not within Cognizant's control, including (a) the number, timing, scope and contractual terms of application design, development and maintenance projects, (b) delays in the performance of projects, (c) the accuracy of estimates of costs, resources and time to complete projects, (d) seasonal patterns of Cognizant's services required by customers, (e) levels of market acceptance for Cognizant's services, (f) potential adverse impacts of new tax legislation, and (g) the hiring of additional staff; (ii) changes in Cognizant's billing and employee utilization rates; (iii) Cognizant's ability to manage its growth effectively, which will require Cognizant (a) to increase the number of its personnel, particularly skilled technical, marketing and management personnel, (b) to find suitable acquisition candidates to support geographic expansion, and (c) to continue to develop and improve its operational, financial, communications and other internal systems, in the United States, India and Europe; (iv) Cognizant's limited operating history with unaffiliated customers; (v) Cognizant's reliance on key customers and large projects; (vi) the highly competitive nature of the markets for Cognizant's services; (vii) Cognizant's ability to successfully address the continuing changes in information technology, evolving industry standards and changing customer objectives and preferences; (viii) Cognizant's reliance on the continued services of its key executive officers and leading technical personnel; (ix) Cognizant's ability to attract and retain a sufficient number of highly skilled employees in the future; (x) Cognizant's ability to protect its intellectual property rights; (xi) the concentration of Cognizant's operations in India and the related geo-political risks of local and cross-border conflicts; (xii) terrorist activity, the threat of terrorist activity, and responses to and results of terrorist activity and threats, including, but not limited to, effects, domestically and/or internationally, on Cognizant, its personnel and facilities, its customers and suppliers, financial markets and general economic conditions; (xiii) general economic conditions; and (xiv) uncertainties regarding the satisfaction or waiver of the conditions to the IMS exchange offer, and the effects on the IMS exchange offer of market conditions, economic conditions, tax treatment, regulatory and legal requirements and the results of negotiations between Cognizant and IMS Health. Such forward-looking statements include risks and uncertainties; consequently, actual transactions and results may differ materially from those expressed or implied thereby.

Additional information on factors that may affect the business and financial results of the companies can be found in filings of the companies made from time to time with the Securities and Exchange Commission.