Corona Networks Selects Wipro Technologies As Development Partner.

Business Editors

BANGALORE, India & SANTA CLARA, Calif.--(BUSINESS WIRE)--March 5, 2002

Company to Set Up Global Development Center for Edge

Aggregation and IP Services Equipment Supplier

Wipro Technologies, the global IT services division of Wipro Limited (NYSE: WIT), today announced the setting up of a Global Development Center for Milpitas based Corona Networks, an industry leading developer of next generation network-based edge aggregation and intelligent IP service platforms.

Corona Networks, a late stage start-up company with solid financial backing from top tier Venture Capital firms, offers a unified solution that empowers service providers to deliver edge aggregation routing with a rich suite of layered IP services. The Global Development Center at Wipro will assist the Corona engineering team in the implementation of new features for their pioneering product, as well as provide support in future product development, enhancement and customization. The Global Development Center, based on Wipro's proven ShoreGain(c) methodology, will provide Corona with the necessary infrastructure, communication facilities and process streamlining, thus providing Corona with significant cost savings.

"The Wipro partnership instantly provides Corona with a world class design and development partner," said Ramandeep Singh President and CEO of Corona Networks. "We were very impressed with their EagleVision(c) design methodology insuring zero defects and design quality." "Corona Networks serves the current and future needs of the converging aggregation and IP services market space,"stated Ramesh Emani, CEO of the Embedded & Internet Access Solutions Division at Wipro Technologies. "We are very happy to serve Corona by assisting them with their product development needs."

About Wipro, Ltd.

Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally.

In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations.

Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock exchange - Mumbai, and the National Stock Exchange, among others.

For more information, please visit our websites at www.wipro.com.

About Corona Networks

Corona Networks, based in Milpitas, California and founded in December 1998, has created the industry leading integrated platform for intelligent IP services, universal subscriber and session management, and traditional IP edge routing that features massive scalability, performance and service management capabilities for the new IP edge. Corona's ISP 12000 and ISM meets the complex needs of service provider market and empowers them to realize a long-term pipeline of profitable IP services revenue. More information about Corona Networks, Corona ISP 12000 and Corona ISM can be found online at www.coronanetworks.com.

Forward-looking and cautionary statements

Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.