Cognizant Technology Solutions Lands Two European Insurance Companies, Global Giant CGNU and DVV.

Business Editors

TEANECK, N.J.--(BUSINESS WIRE)--March 29, 2001

Cognizant's Investment in Center of Excellence

for Insurance Solutions is Paying Off

Cognizant Technology Solutions Corp. (Nasdaq: CTSH), a leading provider of custom software development, integration and maintenance services, announced today that it has been selected by CGNU, the sixth largest insurance group in the world and the largest in the UK, and DVV Insurance, one of the leading firms in Belgium, to provide a range of application management services.

"Cognizant provided CGNU with a total solution for our particular requirements. They behave as a true partner, and they have demonstrated the ability to respond very quickly to solve our IT problems as they arise," said Paul Bots, IT Director at CGNU. "Cognizant is a key link in running our business. We have been highly impressed with their quality and reliability as a vendor. Cognizant has exceeded our already high expectations."

Cognizant is a leader in the insurance industry with more than 15 clients in the insurance business, including Royal and Sun Alliance, Maritime, and several large health insurers in the United States. Cognizant's insurance practice continues to gain momentum and high-profile clients on a global basis.

"The new client wins continue the momentum of our global insurance practice," said Kumar Mahadeva, Chairman and CEO of Cognizant. "The insurance industry is one of the biggest consumers of IT resources and Cognizant's onsite/offshore model provides a perfect fit to help meet their challenges. Our investments in building a Center of Excellence for Insurance and our ability to leverage our worldwide capabilities and resources are paying off."

"Offshore outsourcing is a key component of our IT strategy, and Cognizant has clearly demonstrated their model can best meet our business needs. We are committed to working with this model based on a value proposition of speed, price and quality," said Leo Schoovaerts, IT Director at DVV Insurance. Cognizant has the opportunity to be a long-term partner for additional IT projects, including a backlog of several large projects where the substantial cost savings will allow us to get more done."

CGNU's principal business activities are long-term savings, general insurance and fund management. CGNU is the world's sixth largest insurance group, a top five European life insurer and the UK's largest insurance group. It has more than 15 million customers worldwide and over (pound)200 billion of assets under management.

DVV Insurance is one of the leading insurance companies in Belgium with a premium growth of 33 percent in 2000. This is the result of a multi-access distribution policy, enabling DVV to meet the requirements of and offer its services to every type of client. In 2000, DVV maintained and consolidated its position as fifth insurer in the Belgian insurance market. The company is part of Artesia Banking Corporation, a Belgian banc assurance holding company.

About Cognizant Technology Solutions

Cognizant Technology Solutions (Nasdaq: CTSH) is a leading provider of 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 3,200 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.

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.