Computerworld Premiere 100 IT Leaders Program to Recognize Cognizant Clients DFS Group and Mercury Insurance for IT Innovation.

Business Editors

TEANECK, N.J.--(BUSINESS WIRE)--Jan. 14, 2003

Applications Built and Managed by Cognizant

Help Win IT Leadership Honors for Clients

Cognizant Technology Solutions Corporation (Nasdaq: CTSH), a leading provider of custom software development, integration and application outsourcing services, announced today that IDG's Computerworld, the weekly newspaper for IT leaders, has selected two of Cognizant's clients, duty free retailer DFS Group and auto insurer Mercury Insurance, as Premier 100 IT Leaders.

The award honors individuals who have creatively applied technology to execute their organization's business strategy.

"We congratulate Mercury Insurance and DFS Group on receiving this prestigious honor from ComputerWorld," said Kumar Mahadeva, Chairman and CEO of Cognizant Technology Solutions. "We are pleased to have played a significant role in helping Mercury Insurance and DFS Group meet their business objectives. Cognizant is pioneering the fourth generation of offshore services with a focus on delivering high value technology solutions to our clients' business problems. Many mainstream companies can now benefit from the advantages of easy-to-use offshore outsourcing."

The Cognizant 4th generation onsite/offshore model provides the best of both worlds--the low-cost of offshore development coupled with senior management onsite who work closely with clients to achieve strategic objectives. Cognizant's customer-oriented model is increasingly seen as the easiest way to leverage offshore outsourcing as more Fortune 1000 organizations adopt offshore strategies.

"DFS used Cognizant's Transformational Outsourcing solution to combine nine regional IT organizations into one, and help DFS reach important strategic business objectives," said Ron Glickman, CIO of DFS Group, the duty free shopping division of the large global luxury goods retailer, LVMH. "Cognizant is different from the rest of the offshore industry because of their easy to use 4th generation model and a business culture which values deep partnerships where client needs come first. They are an elite organization with an intense customer focus and work as an extension to our own teams."

"Cognizant helped Mercury Insurance create the e-business-based Agent Help Portal enabling the Mercury sales channel to provide better support for customers," said Greg Schueman, CTO at Mercury Insurance, one of the nation's fastest growing auto insurers. "Cognizant has a strong insurance industry practice, and provides industry leading IT architecture and strategy consulting services. They combined cost effective services with, fast turnaround and high quality application development and management to help us develop and implement a successful business strategy."

Cognizant focuses on providing end-to-end and industry specific solutions that deliver bottom line benefits. Cognizant builds long term lasting partnerships that can meet many of the client's IT needs over time.

"Technical savvy alone does not constitute a Premier100 IT leader," said Maryfran Johnson, editor in chief, Computerworld. "With the Premier 100 awards program and annual Premier 100 conference, Computerworld recognizes leaders who have the business acumen and unique leadership capabilities to produce innovative IT strategies."

The Premier 100 IT Leaders award, now entering its fourth year, recognizes exceptional technology leadership, innovative approaches to business challenges, and effective execution of comprehensive IT strategies. DFS Group and Mercury Insurance will be honored at the Computerworld Premier 100 IT Leaders Conference, February 23-25, 2003 at the JW Marriott Desert Ridge Resort in Scottsdale, Ariz.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corp. (Nasdaq: CTHS) 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 6,000 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.