Wipro Proud to Host the German Chancellor.

Business Editors

BANGALORE, India & SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 30, 2001

Wipro Limited (NYSE: WIT), a leading global provider of IT services to international companies, today announced the visit of The Chancellor of The Federal Republic of Germany to Wipro in Bangalore.

As part of his visit, the Chancellor visited Wipro's learning center, which will provide comprehensive training to Wipro employees in German language and culture. With a highly open and invigorating ambience, the learning facility plans to equip Wipro employees with industry domain knowledge, the latest technology know-how, and information about culture and languages, and will act as a cornerstone of Wipro's leadership in Technology and Innovation.

To mark this historic occasion, Azim Premji, chairman of Wipro Corporation, was there to offer a personal welcome at Wipro's university campus and to highlight the learning center's preparation facilities for Wipro's German-based consultants.

Welcoming the Chancellor of Federal Republic of Germany, Azim Premji, Chairman, said, "We have great pleasure in welcoming the Chancellor of Federal Republic of Germany to India and to Wipro, and are honored to demonstrate our capabilities and commitment to supporting German's technology business. We are very pleased that he has found time to visit us in his hectic schedule, as his visit reinforces and enhances Wipro's business relationships in Germany."

Mr. Premji met the Ministers in the Chancellor's office in Germany during his visit there in May, and met the Chancellor himself in September this year, and invited him to visit Bangalore and Wipro.

Wipro had left no stone unturned to make the Chancellor's visit memorable. To mark the visit, Wipro built a beautifully designed 75,000 square foot "Floating Learning Center," a 3-tier man-made lake and an 800-seat capacity amphitheatre in just less than 90 days for the Chancellor's visit. Built on a 21-acre area of land, Wipro's Electronic City Phase II Facility can house 2,400 employees. The Floating Learning Center, where the Chancellor was shown Wipro's e-learning initiatives, has been designed to provide a soothing environment for both passive viewers from outside and to those learning in the Center, as the tranquil waters of this lake and the wooded landscape beyond create the right kind of environment for knowledge absorption.

Mr. Vivek Paul, CEO and Vice-Chairman, Wipro Technologies added, "With our expansion into Germany, we are pleased to offer Wipro's quality leadership, technical depth and cost advantage to another major economy in the world. German companies have already shown a strong interest in sharpening their competitive advantage by maximizing the return from their IT spends."

Wipro has a German-based office in Frankfurt that provides high quality, cost effective and complete range of IT/IS services to address business applications requirements of enterprises, as well as R&D outsourcing requirements of technology companies. Currently, there are about 100 consultants working for German clients in leading telecom, banking and technology companies in Germany, as well as from Wipro's software development centers in India.

Germany today is the second largest IT market in Europe and according to Gartner, is expected to grow to around $92 billion by 2003. The major segments of this growth will be development and integration, infrastructure management services, consulting and software support services.

About Wipro Technologies

Wipro Technologies is a part of Wipro Limited (NYSE: WIT), and is a leading global provider of high-end IT solutions. These IT solutions include application development services to corporate enterprises and hardware and software design services to technology companies.

About Wipro Limited

Wipro Limited is the first SEI CMM Level 5 certified IT Services Company globally. Wipro provides research and development services to telecom and electronic product companies and software solutions to global corporate enterprises.

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 and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting.

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 and www.wiproindia.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.