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Infosys Wins Prestigious Annual Corporate University Xchange Excellence Award for 'Aligning Corporate Learning to Business Strategies'.

Business Editors/High-Tech Writers

FREMONT, Calif.--(BUSINESS WIRE)--June 7, 2002

First Asian Company to Win Award Since Inception

Infosys Technologies Ltd. (Nasdaq:INFY) today announced that it has received the prestigious Corporate University Xchange Excellence Award for 2002, for 'Aligning Corporate Learning to Business Strategies.' The award recognizes organizations that have demonstrated innovation and excellence in corporate education and training. Infosys is the first organization founded in Asia to win this celebrated award.

The Awards are presented in five categories: Alignment -- aligning corporate learning to business strategies; Alliances -- developing strategic learning alliances with external providers; E-learning -- creating a learning environment through technology; Marketing -- developing and implementing innovative marketing and branding techniques; and Measurement -- measuring the value of an organization's investment in learning.

At the cornerstone of Infosys' Corporate Learning initiative is the Infosys Leadership Institute located in Mysore. The Leadership Institute was established to help manage Infosys' growth, prepare Infosys employees ("Infoscions") to face the complexities of the rapidly changing marketplace and bring about a paradigm shift in the work culture by instilling leadership qualities. Other components of the Corporate Learning initiative are the Education & Research and Learning & Development departments, which, along with the Leadership Institute, enable the present and future leaders of Infosys to achieve the company's vision and strategy.

This year's awards will be presented in Las Vegas at the Training Directors' Forum, in a ceremony hosted by Corporate University Xchange and sponsored by Sun Microsystems. Other winners this year include American Family Insurance in the Alliances category, Booz Allen Hamilton in the E-learning category, Barclays in the Marketing category and Accenture in the Measurement category.

Dr. G. K. Jayaram, head of the Infosys Leadership Institute, who will accept the award on behalf of Infosys, said, "At Infosys, people are truly its greatest assets. Winning this award is a testimony to our continuous commitment to develop the full potential of our people. We have attempted step-by-step, brick by brick, to train, develop and evoke in our people their natural talents in technology, soft skills and leadership capabilities. This award represents a milestone, a watershed in our pursuit of learning for our people as a business strategy."

Commending Infosys on its achievement, Dr. Rosalie Lober, senior director of organizational learning at Corporate University Xchange, said, "Infosys exemplifies best practices in corporate learning, incorporating the organization's strategic goals into the learning infrastructure, and creating a learning environment that is aligned to and improves business performance. Infosys Corporate Learning leverages talent and leadership, maximizing through learning, value to their stakeholders -- customers, community, board of directors and employees."

About Infosys Technologies Ltd. (Nasdaq:INFY)

Infosys, a world leader in consulting and information technology services, partners with Global 2000 companies to provide business consulting, systems integration, application development and product engineering services. Through these services, Infosys enables its clients to fully exploit technology for business transformation. Clients leverage Infosys' Global Delivery Model to achieve higher quality, rapid time-to-market and cost-effective solutions. Infosys has approximately 10,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com.

Safe Harbor Provision

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 Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability, 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, 2002. This filing is 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 statement that may be made from time to time by or on behalf of the company.
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Date:Jun 7, 2002
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