Cognizant Takes Big Jump Up to 6th From 8th Place Among Exporters of Software and Services From India.

Business Editors

TEANECK, N.J.--(BUSINESS WIRE)--Aug. 13, 2001

Rapid Ascent is Because Cognizant is the only Top Company to Focus

Exclusively on Business Applications and Offer

Specific Industry Expertise

Cognizant Technology Solutions Corp. (Nasdaq: CTSH), a leading provider of e-business software development and integration, and large scale application outsourcing, announced today that the Company is now ranked as the sixth largest exporter of software services by India's National Association of Software and Service Companies (NASSCOM), up from No. 8 last year.

NASSCOM rankings are based on revenues derived from software developed in India and exported around the world.

Established in 1994 and based in Teaneck, New Jersey, Cognizant is the youngest company in the NASSCOM Top 10.

"We are very pleased that we are moving up rapidly in NASSCOM's rankings," said Lakshmi Narayanan, President and Chief Operating Officer of Cognizant. "Our rapid growth is driven by our exclusive focus on the development and management of business applications from the Global 1000, and our expertise in specific IT intensive industries including healthcare, financial services, insurance and retail. In fact, if ranked purely on business applications revenue we would be in the top four."

About Cognizant Technology Solutions

Cognizant is a leading provider of large scale application outsourcing and custom software development, integration and maintenance services that links e-business with core information systems for companies worldwide. Cognizant operates under a high quality, high value onsite/offshore model that enables better, faster and more cost effective development and deployment of large-scale systems across a wide range of transaction intensive business needs.

Its more than 3,500 employees are committed to partnerships that sustain long-term, proven value in order win in today's global marketplace. Cognizant was listed as one of the "Best Small Companies in America," by Forbes and as the top solutions provider and one of the top 200 Hot Companies by Business Week. Cognizant has been assessed at SEI/CMM Level 5, the highest possible rating. For more information, visit Cognizant on the web at www.cognizant.com.

Certain statements contained herein, including statements regarding the development of the Company's services, markets and future demand for the Company's services, projections on future growth potential, and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include risks and uncertainties; consequently, actual results may differ materially from those expressed or implied thereby. Factors that could cause actual results to differ materially include, but are not limited to, variability of quarterly operating results, reliance on large projects, concentration of revenue, ability to attract and retain professional staff, dependence on key personnel, ability to manage growth effectively, risks associated with rapid technological advances, risks associated with possible acquisitions, risks associated with the Company's strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in the Company's filings and reports with the Securities and Exchange Commission.