Infosys Technologies' Credit Risk Management Solutions Are Implemented by Zions Bancorporation.

Zions Bancorporation Leverages Customized Business Solutions Delivered by Global Delivery Model for Enhanced Service and Overall Cost Savings

FREMONT, Calif. -- In an effort to enhance the delivery of its credit risk management systems and strengthen compliance with Basel II regulations, Zions Bancorporation (NASDAQ:ZION), one of the nation's premier financial services companies, is implementing Infosys Technologies' (NASDAQ:INFY) Credit Risk Management solutions delivered by its unique Global Delivery Model. The agreement provides Zions' loan officers an end-to-end web execution of Zions' existing risk rating models that supports a more strategic approach to financial risk management.

"We are very pleased with Infosys' application development model for our credit risk management solutions which has brought greater consistency to the financial risk management model we have in place," said Gerald Dent, chief credit officer at Zions Bancorporation. "With the challenges of industry regulations and a desire to remain competitive, Zions is focused on executing the best risk assessment strategies."

Zions Bancorporation is benefiting from Infosys' unique development approach. This approach combines Infosys' engagement experience, technical expertise, and industry best practices.

"Infosys' priority is to help companies turn the increasing challenges that come with the ever-changing market into profitable opportunities and we are honored that a prestigious financial institution such as Zions has partnered with us to assist the company in implementing an advanced risk system that will allow it to gain a competitive edge in the industry," said Ashok Vemuri, senior vice president and head of Infosys' Banking & Capital Markets business unit.

"With Infosys' wide range of unique, pioneering solutions, we are looking beyond its credit risk management services to enhance our services and our cost savings," said Michael DeVico, executive vice president and head of operations/technology at Zions Bancorporation. "In the increasingly competitive banking industry our priority is to stay a step ahead of the continuously changing market and Infosys' services are helping us achieve this with its overall leadership in aligning infrastructure services."

About Infosys Banking and Capital Markets Practice

Infosys' (NASDAQ:INFY) Banking and Capital Markets (BCM) practice offers expertise in visioning, architecting and delivering business and technology solutions to global financial services organizations. The Infosys BCM solutions help companies increase their operational efficiency, enable more effective customer management and lower operational risk profiles. As Infosys' largest practice, growing at over 40% per annum, BCM provides services for four of the top five European banks, six of the top 10 securities firms and three of the top four credit card issuers. With Infosys, financial companies are assured of a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 66,000 employees in over 39 offices worldwide. For more information, visit www.infosys.com

About Zions Bancorp

Zions Bancorporation is one of the nation's premier financial services companies, consisting of a collection of great banks in select high growth markets. Zions operates its banking businesses under local management teams and community identities through over 450 offices and 500 ATMs in 10 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. The company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to subsidiary banks can be accessed at www.zionsbancorporation.com.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, 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 the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT, business process outsourcing and consulting 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, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and 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 United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2006 and our quarterly report on Form 6-K for the quarter ended September 30, 2006. These filings are available at www.sec.gov. Infosys 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. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.