Cognizant Technology Solutions Finalizes Year 2000 Compliance Agreement With First Data Investor Services Group.

NEW YORK--(BUSINESS WIRE)--Oct. 27, 1997--Cognizant Technology Solutions (CTS) finalized an agreement with First Data Investor Services Group, Westborough, Mass., for Year 2000 compliance services involving more than 10 million lines of code, as well as other software projects extending through 2001.

"We are pleased that First Data Investors Services Group has chosen to entrust CTS with this important project," said Kumar Mahadeva, Chairman and Chief Executive Officer of CTS. "We view this agreement as a strong vote of confidence in our company."

"The depth and experience of Cognizant Technology Solutions' management team played a critical role in their selection as our partner for Year 2000 compliance," said Jerry Kokos, Executive Vice President, Transfer Agent Services, First Data Investor Services Group. "We are confident CTS will meet or exceed our expectations."

With a servicing portfolio of more than $500 billion, First Data Investor Services Group, Inc., the mutual fund distribution and services company of First Data Corporation (NYSE:FDC), is one of the nation's leading providers of financial services to banks, investment advisory firms and mutual fund complexes. With approximately 2,700 employees, the company currently services more than 16 million shareholder accounts and operates 24 hours a day, seven days a week. In addition to its headquarters in Westborough, Massachusetts, First Data Investor Services Group maintains operations in Georgia, Maryland, North Carolina, Rhode Island and Virginia.

Cognizant Technology Solutions operates in the U.S., Canada, Europe, and India with a staff of more than 900 software professionals. In addition to providing Year 2000 compliance services, Cognizant Technology Solutions offers a broad array of programming and information technology project management services.

Cognizant Technology Solutions is a unit of Cognizant Corporation (NYSE: CZT). Based in Westport, CT, Cognizant integrates information and technology to create business insight in three fast-growing sectors of the global economy: healthcare, media and technology. Cognizant employs more than 10,000 professionals in nearly 80 countries. Its principal operating units are: IMS, which offers global information solutions to the pharmaceutical and healthcare industries, and Nielsen Media Research, the leader in audience measurement for electronic media. Cognizant also is the largest shareholder in Gartner Group, the premier provider of research and advisory services to the information technology industry.

CONTACT: GCI GROUP, New York

Andy Maas

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