Finacle® debuts in China

ABN AMRO Bank to deploy Infosys’ banking solution in Greater China

Bangalore, December 23, 2003 Infosys Technologies Ltd. today announced that ABN AMRO Bank, one of the leading global banks, has chosen to deploy Finacle in the Greater China region across Mainland China, Taiwan & Hong Kong.

ABN AMRO Bank will deploy Finacle in areas of core banking, consumer internet banking, customer relationship management and loan origination across all 3 locations.

With this win, the 4th within the ABN family globally, Infosys has further consolidated its position within ABN AMRO Bank as the preferred enterprise banking platform for the New Growth Markets of the bank. Further, this win also marks the debut of Finacle in the high potential and fast growing China market, which is a key focus market for Infosys and its globally respected banking solution Finacle.

Announcing this, Mr. Rajiv Agarwal, CFO, ABN AMRO Bank said, “This is a strategic initiative for ABN AMRO Bank in the Greater China market. This is a key focus market for the bank and deploying the right technology platform is critical to our strategy to create a competitive differentiation. I am confident that Finacle provides us a powerful platform to differentiate ourselves and gain business agility. Integrated CRM and e-banking-enabled core banking that Finacle provides is industry leading and will greatly help us create a unified and unique customer experience to offer unparalleled value to our clients in the region.”

He further added,” We are also confident that Infosys, with its rich global experience, will deliver value to the bank beyond their world-class products. Our experience with Infosys so far across 3 locations in ABN AMRO Bank reaffirms our confidence in Infosys as a long term strategic partner.”

Expressing happiness on the success, Mr. Merwin Fernandes, Vice President & Global Head – Sales & Marketing, Banking Business Unit, Infosys Technologies said,” We are delighted to partner with ABN AMRO Bank Greater China in this key initiative. This is a strategic win for Finacle from several angles. While on one hand it will enable us to further strengthen and deepen our relationship with ABN AMRO Bank, on the other this win provides us the vital entry into China, a strategic focus market for Finacle. We have been investing in making Finacle China-Ready and I am confident that this win will greatly help us accelerate our China plans.”

He went on to add “The growing number of banks powered by Finacle, that now extend across 89 banks in 25 countries, within 3 years of its launch, is a clear testimony to the emergence of Finacle as an enterprise banking e-platform of choice globally. Apart from its new generation architecture, rich functionality and its unique CRM and e-banking enabled core platform, what has enabled such rapid success is its hitherto unblemished implementation track record that is unparalleled in the industry.”

About ABN AMRO Bank

ABN AMRO Bank is a prominent international bank, its origins going back to 1824. ABN AMRO Bank ranks 11th in Europe and 23rd in the world based on tier 1 capital, with over 3,000 branches in more than 60 countries, a staff of over 100,000 full-time equivalents and total assets of EUR 601 billion (as per 30 September 2003). The Bank is active in three principal customer segments: Consumer & Commercial Clients, Wholesale Clients and Private Clients & Asset Management.

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 over 19,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com or www.finacle.com

Safe Harbor

Certain statements in this release concerning Infosys’ 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, 2003and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2002, September 30, 2002, December 31st 2002 and March 31, 2003. 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 statement that may be made from time to time by or on behalf of the company.

NMB Bank Limited selects Finacle®

Infosys wins key banking account in Zimbabwe

Bangalore, December 15, 2003 Infosys Technologies announced today that NMB Bank Limited, a leading bank from Zimbabwe, has selected its Finacle® suite of enterprise banking solutions.

NMB Bank Limited has chosen retail and corporate e-banking solutions from the Finacle suite from Infosys to power its Total Electronic Banking initiative. This win marks Infosys’ entry into Zimbabwe and further consolidates the company’s leadership position in Africa. With NMB Bank, Finacle has now extended its footprint to 7 countries in the African continent.

Expressing his delight on signing up with Infosys, Financial Director of NMB Bank Mr. Otto Chekeche said,” We view our Total Electronic Banking initiative as a key component in our strategy to expand our service delivery channels to our customers. Powered by a global banking solution like the Finacle banking e-platform, NMB Bank will be able to realize the benefits of an integrated delivery channel strategy, reduce costs, speed up time-to-market and make our business processes more efficient.”

He added,” Our decision to implement Finacle has been in part influenced by Infosys’ reputation as a successful and committed software solutions provider. We are confident that this initiative will give our bank the competitive advantage that we are looking for.”

Mr. Venkatramana Gosavi, Regional Manager – Africa, Banking Business Unit, Infosys Technologies, said, “We are delighted to partner with NMB Bank as their strategic IT partner. Africa is a key focus market for us and with a leading bank like NMB Bank, we have gained entry into the competitive Southern African market. This win is very important for us in Africa since it is the first win for Finacle eChannels and Finacle eCorporate independent of our core-banking solution. Finacle today has emerged as the preferred banking solution suite for progressive banks in Africa and we are sure that with our superior product backed by Infosys’ successful delivery track record, NMB Bank will derive significant business benefits through this initiative.”

About NMB Bank

NMB Bank Limited (then National Merchant Bank of Zimbabwe Limited) was established in October 1992 by a group of young, professional directors who had previously held senior positions in financial institutions including the World Bank. In December 1999, NMB Bank acquired a commercial banking licence, which has meant that the bank is now able to offer one-stop-banking to corporates and business people. The commercial bank opened its doors to the public in July 2000. Listed on ZSE and twice a recipient of the Euromoney, Best Bank in Zimbabwe Award, NMB Bank is recognized for service excellence and product innovations.

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 over 19,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com or www.finacle.com

Safe Harbor

Certain statements in this release concerning Infosys’ 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, 2003and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2002, September 30, 2002, December 31st 2002 and March 31, 2003. 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 statement that may be made from time to time by or on behalf of the company.

ABN AMRO Bank selects Finacle®

Infosys wins key banking account in Singapore

Bangalore December 03, 2003 Infosys today announced that ABN AMRO Bank Singapore has selected its Finacle® suite of enterprise banking solutions. ABN AMRO Bank will implement Finacle eChannels, a powerful consumer e-banking solution, for all retail customers in Singapore as part of the Bank’s business transformation initiative to deliver a more superior customer experience.

Expressing his delight at the Infosys signing up, ABN AMRO Bank’s Executive Director and Head of Consumer Banking, Mr. Andrew Liew said,” We are extremely happy to partner with Infosys in this strategic consumer e-banking initiative. We view Finacle as a key component in our strategy to re-invent ourselves as a “new generation” bank. This relationship enables our Bank to launch new products and services for our customers with reduced time-to-market, become more efficient in our operations and reduce our costs. Most importantly, it will provide our customers with timely and accurate information at the click of a mouse and allow the Bank to customise our solutions to what is important to our customers.”

He further added, “Our decision to implement Finacle has been influenced by Infosys’ reputation as a successful and committed software solutions provider, with a proven track record across the world. We are confident that with Infosys’ support and commitment, we will embark on a path of rapid business growth and delivering client value.”

Mr. Merwin Fernandes, Vice President and Global Head – Sales and Marketing, Banking Business Unit, Infosys Technologies, said, “We are delighted to partner with ABN AMRO Bank Singapore in its thrust towards consumer-oriented banking. Singapore is a key focus market for our banking solutions. I am confident that Finacle will enable ABN AMRO Bank to offer new services, derive significant business benefits and differentiation in the competitive Singapore market.”

About ABN AMRO Bank

ABN AMRO Bank established its first office in Singapore in 1858, making it the island republic’s oldest, still existing bank. Today, nearly 142 years later, the Bank remains active in the wholesale, retail and private & asset management business needs with innovative solutions, reaffirming its long-term commitment and confidence in both Singapore and the region. Currently ABN Singapore operates a 4-branch retail operation with 50,000 customers with strong retail growth focus.

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 over 19,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com or www.finacle.com

Infosys’ Finacle® Suite of Enterprise Banking Solutions include-

Finacle Core Banking- Finacle Core Banking is a completely web based, centralized, multi-lingual, multi-currency solution that delivers unparalleled value to banks. Fully integrated, scalable, open and customer-centric, it addresses retail, corporate and trade finance banking requirements. Extensively parameterisable, it comes with comprehensive “out-of-the-box ” features and packs several unique capabilities like extended 24×7 support across channels including branches, powerful STP infrastructure across the product, workflow automation, unified and standards based delivery channel integration, CoBIT compliant security framework and unparalleled flexibility through the e-Xtensibility tool kit.

Finacle Treasury- Finacle Treasury is an integrated-yet-modular front, middle and back office treasury solution. It supports a full range of treasury products and their derivatives covering foreign exchange, money markets and securities. It has extensive middle office features such as limits management, risk and liquidity management and also supports full back office processing capabilities including general ledger. Finacle Treasury’s architecture provides scalability and has extensive fail-over features. Complete multi-entity functionality enables system consolidation across geographical regions delivering reduced total cost of ownership

Safe Harbor

Certain statements in this release concerning Infosys’ 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, 2003and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2002, September 30, 2002, December 31st 2002 and March 31, 2003. 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 statement that may be made from time to time by or on behalf of the company.

Infosys’ Finacle on Microsoft .NET to power Banque Saudi Fransi e-cash initiative

Infosys establishes market dominance with 4th successive win in Saudi Arabia

Bangalore December 01, 2003 Infosys announced today that Banque Saudi Fransi (BSF) has chosen Finacle eCorporate, the web-based cash management and corporate e-banking solution from the Finacle suite, on Microsoft .NET software, for its strategic e-banking initiative. This is the 4th win in a row for Finacle within 18 months in Saudi Arabia. With this, Finacle has emerged as the preferred choice in the corporate e-banking and web-based cash management space in regional market.

Banque Saudi Fransi is a Saudi Arabian Joint Stock Company that ranks 5th among kingdom’s banks by Net Income and is the 2nd largest foreign bank. It is affiliated with Crédit Agricole Indosuez (CAI), which holds an equity stake of 31.1%. CAI is the Corporate Banking and Investment arm of Crédit Agricole Group, the largest bank in France, and among the world’s top ten banks by total equity.

Announcing this, Mr. Mohamed Ghanameh, Head of Corporate Banking with Banque Saudi Fransi said: “Finacle eCorporate on Microsoft .NET emerged as the platform of choice for the advanced web based services that we wish to deliver to our diversified and growing corporate client base. It was imperative for us to find a comprehensive and flexible solution on a robust industry standard platform, which could meet the sophisticated Corporate banking needs of our clients and provide the bank the required business agility and architectural flexibility in a fast evolving and highly competitive environment. We are confident that Infosys’ global experience and expertise coupled with their world class product and Microsoft’s industry leading platform will enable us deploy a fully secured and cost efficient solution, creating true-value to our corporate customers”.

Mr. Merwin Fernandes, Vice President and Global Head – Sales & Marketing, Banking Business Unit, Infosys Technologies Ltd. said, “We are delighted that Banque Saudi Fransi has chosen Finacle. This is a testimony of how Finacle’s comprehensive web based cash management and corporate e-banking offering is meeting the needs of advanced banks in the region like BSF. A key facet of this win is the combined Infosys-Microsoft solution stack that is emerging as a formidable and unbeatable value proposition to banks in the region. Winning all 4 banks in Saudi Arabia that decided on a new system in this space over the last 18 months, Finacle has established a clear competitive leadership in the regional market. Middle East region in general and Saudi Arabia in particular are a key focus area for our banking solutions and we have made significant investments in localizing our solutions and are now making further investments in strengthening our sales and support infrastructure in the region. Banks in the region are looking for change, a fresh perspective and our Finacle suite of world class, new generation localized banking solutions, coupled with Infosys’ proven delivery track record, offer banks a low risk and low Total Cost of Ownership solution to enable them to reduce costs, gain business agility and create competitive differentiation.”

Mr. Warren Lewis, Managing Director – Banking Industry, Financial Services Group, Microsoft Corp states, “This is further evidence that strong partner solutions like Finacle eCorporate, when coupled with the Microsoft Windows Server Family of enterprise software, can help position financial institutions to better serve their customers, transform their businesses, reduce inefficiency, and break away from their competitors—while building capacity for continuing innovation.”

About Banque Saudi Fransi

Established in 1977, Banque Saudi Fransi is a fully-fledged bank offering a large range of products and services to Individuals, Corporate, Investors and Institutions. Among the top Saudi banks in Corporate Banking, it serves an extensive Public and Private clientele base, notably providing the most advanced financial solutions in project finance and risk management. The bank has a wide presence in the kingdom, through its 3 Regional Head Quarters, 58 branches and 153 ATMs. As of September 30, 2003, BSF total assets were SR 49.4 billion and Net result SR 882.4 million, up 17.6% compared to same period in 2002.

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 over 19,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com or www.finacle.com

Infosys’ Finacle® Suite of Enterprise Banking Solutions include-

Finacle Core Banking- Finacle Core Banking is a completely web based, centralized, multi-lingual, multi-currency solution that delivers unparalleled value to banks. Fully integrated, scalable, open and customer-centric, it addresses retail, corporate and trade finance banking requirements. Extensively parameterisable, it comes with comprehensive “out-of-the-box ” features and packs several unique capabilities like extended 24×7 support across channels including branches, powerful STP infrastructure across the product, workflow automation, unified and standards based delivery channel integration, CoBIT compliant security framework and unparalleled flexibility through the e-Xtensibility tool kit.

Finacle Treasury- Finacle Treasury is an integrated-yet-modular front, middle and back office treasury solution. It supports a full range of treasury products and their derivatives covering foreign exchange, money markets and securities. It has extensive middle office features such as limits management, risk and liquidity management and also supports full back office processing capabilities including general ledger. Finacle Treasury’s architecture provides scalability and has extensive fail-over features. Complete multi-entity functionality enables system consolidation across geographical regions delivering reduced total cost of ownership

Safe Harbor

Certain statements in this release concerning Infosys’ 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, 2003and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2002, September 30, 2002, December 31st 2002 and March 31, 2003. 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 statement that may be made from time to time by or on behalf of the company.