Cognizant Technology Solutions Announces Offer to Purchase Certain Assets from Silverline's Financial Services Practice.

Business and Technology Editors

TEANECK, N.J.--(BUSINESS WIRE)--Sept. 19, 2002

Cognizant Technology Solutions Corporation (Nasdaq: CTSH), a leading application management and e-business solutions provider, today announced that it has made an offer to purchase certain assets of Silverline Technologies Inc. (NYSE: SLT) relating to the provision of software services to American Express Travel Related Services Company, Inc. In connection with this transaction, Cognizant will offer employment to over 300 software professionals.

"This acquisition would provide us the opportunity to further strengthen our leadership position in the financial services industry," said Francisco D'Souza, Senior Vice President of Cognizant.

Consummation of the acquisition is subject to completion of due diligence, negotiation of definitive agreements, and receipt of customary required approvals, including the approval of the Boards of Directors of both companies.

About Cognizant Technology Solutions

Cognizant Technology Solutions (Nasdaq: CTSH) is a leading provider of custom software development, integration and maintenance services that link 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 4,800 employees are committed to partnerships that sustain long-term, proven value in order to 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.

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.