Bahraini Saudi Bank chooses Finacle® to power aggressive growth

Finacle to replace bank’s legacy system with new generation core banking solution

Bangalore (India), May 31, 2007: Infosys Technologies today announced that Bahraini Saudi Bank (BSB), a leading provider of retail and commercial banking services to customers in the Kingdom of Bahrain has chosen Finacle to replace its legacy core banking solution.

Since 1985, BSB has been successful in meeting the needs of small to medium sized customers in the trade, retail, manufacturing, construction, services and real estate sectors. The Bank currently offers a full range of retail banking services through its network of branches and ATMs and was the first bank in Bahrain to be ISO 27001 certified for its Information Security practices. BSB also operates through a global network to offer efficient trade finance services to its export/import customers.

Mr. Khalid Shaheen, Chief Executive Officer, Bahraini Saudi Bank, said “BSB is well positioned today to carve out a leadership position in both, the retail as well as the commercial banking space. Armed with tailored financial solutions for mid-market companies in Bahrain and a strong ambition to achieve improvements in customer service delivery standards, we have chosen Infosys as a strategic technology partner based on their international presence, technological strengths, and domain expertise that specifically addresses the unique needs of BSB.”

Speaking on the occasion, Sanat Rao, Global Head – Sales, Finacle said, “Our association with Bahraini Saudi Bank is significant as it marks our first installation in the Kingdom of Bahrain. We are proud to commence this engagement and are committed to ensuring that BSB attains its growth ambitions. The Bank’s selection of Finacle ahead of global competition is yet another reinforcement of Finacle’s leadership in the core and universal banking space in the Middle East well as around the world.”

Finacle recently earned the first position in the Forrester Wave* on Retail Banking Platforms and was also positioned in the Leaders Quadrant in the Gartner Magic Quadrant for International Retail Core Banking**.

*Source: “The Forrester Wave: Retail Banking Platforms, Q4 2006”, Forrester Research, Inc., November 2006

**Source: Gartner, Inc. “Magic Quadrant for International Retail Core Banking, 2006” Don Free, 25 January 2007

The Magic Quadrant is copyrighted 25 January 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Bahraini Saudi Bank

Bahraini Saudi Bank B.S.C. (BSB) is a retail bank with a paid up capital of BD 50 million and an authorized capital of BD 200 million. BSB was established by an Amiri Decree on 15 December 1983 and was founded with a paid-up capital held between Bahraini and Saudi shareholders. BSB offers commercial and retail banking services to its customers in the Kingdom of Bahrain through its six branches and network of ATM’s. The Bank’s shares are listed on the Bahrain Stock Exchange.

About Finacle Universal Banking Solution

Finacle from Infosys helps banks WIN IN THE FLAT WORLD by providing solutions and services that enable a shift in their strategic and operational priorities. The offerings address the comprehensive technology-led business transformation requirements of retail, corporate and universal banks worldwide by maximizing their opportunities for growth, while minimizing the risks that come with such large scale transformation. For more information, visit www.edgeverve.com/finacle

About Infosys Technologies Ltd.

Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, 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 72,000 employees in over 39 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com.

About Business Connexion

Business Connexion (Pty) Ltd is a leading black empowered integrator of innovative business solutions based on information and communications technology (ICT). With over 4500 employees and a track record spanning 28 years, Business Connexion runs mission-critical ICT systems and manages products, services and solutions for JSE listed and key public sector organisations, parastatals and medium-sized companies. Business Connexion has a unique Solutions Integration Model that illustrates how clients are placed at the centre of all activities surrounded by expertise in four principal business areas: Technology Infrastructure, Business Applications, Outsourcing and Communications. In order to deliver a world-class service Business Connexion has developed strong relationships and attained top-level certification with many of the world’s leading ICT suppliers.

Technology driven transformation key to South African banks’ future in the Flat World

Industry experts and Finacle from Infosys share insights on the impact of banking in the flat world

Johannesburg, 30th May, 2007: Finacle from Infosys and Business Connexion today announced the successful conclusion of their banking executive forum in South Africa held at The Saxon, Johannesburg. The event, one of the series which had earlier been held in prominent cities across the globe like Sydney, Melbourne and Kuala Lumpur etc., was centered on the theme, “Win in the flat world: business transformation drivers for South African banks”. This chapter, being held in South Africa for the first time, brought together an array of thought leaders and visionaries from the banking industry. Chaired by Don Free, Research Director at Gartner and Sanat Rao, Global Head – Sales for Finacle, Infosys, the event addressed key issues and challenges faced by the South African banking industry.

The banking industry is in the midst of a transformation and both business and technology professionals need to prepare themselves for the banking customer of the coming decade. Today’s customer is increasingly demanding and innovative concepts that can address the diverse requirements of a large customer base are key to the success for banks across the globe. This message came through clearly in the deliberations and discussions at the event.

In his keynote address, Free shared the latest trends in the banking industry with specific relevance to globalization. Outlining the critical success factors for South African banks, Free suggested that core banking replacement would be the key driver for banks in the region that are still operating on legacy systems.

“The reality is that these legacy systems are very expensive to maintain – both from a technology and staffing perspective,” says Tony Rall, regional executive of business applications at Business Connexion’s Johannesburg Regional Office. “New generation applications which run on cheaper platforms are required in the ever changing financial services environment.”

According to the Gartner Magic Quadrant for International Retail Core banking report, the critical success factors for contemporary banks to create value in this industry are operating efficiency, scalability, agility and time-to-market, and most importantly, a lower total cost of ownership of their IT infrastructure. These would be the key influencers in selecting the platform to power institutions into next generation banking.

In light of the changing regulatory landscape of banking in the country, banks need access to flexible solutions that integrate seamlessly and cost effectively. Rall says one of the biggest issues faced by financial institutions is the technical requirements brought on by new legislation such as the National Credit Act. The National Credit Act comes into full effect on 1 June 2007 and financial institutions have had to make substantial investments in gearing up their technology for the new requirements. “A solution such as Finacle, provides them the flexibility of modular implementation, so as a new requirement is identified they only need to add that module and not overhaul the entire system” he concludes.

In an interesting session on Partnership for Transformation, Rao acknowledged that Tier1 banks across the globe have recognized the need and urgency to commence with the core systems replacement program. “The core banking landscape is poised at one of the most exciting and defining phases and is likely to witness considerable momentum”, says Rao. Commenting on the banking scenario in the South African region, he adds, “This is the most opportune period for banks and technology partners to leverage the transformation opportunity and create successful partnerships.”

About Gartner Magic Quadrant for International Retail Core Banking

Source: Gartner, Inc. “Magic Quadrant for International Retail Core Banking, 2006” Don Free, 25 January 2007

The Magic Quadrant is copyrighted 25 January 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendor’s measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Finacle Universal Banking Solution

Finacle from Infosys helps banks WIN IN THE FLAT WORLD by providing solutions and services that enable a shift in their strategic and operational priorities. The offerings address the comprehensive technology-led business transformation requirements of retail, corporate and universal banks worldwide by maximizing their opportunities for growth, while minimizing the risks that come with such large scale transformation. For more information, visit www.infosys.com/finacle

About Infosys Technologies Ltd.

Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, 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 72,000 employees in over 39 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com.

About Business Connexion

Business Connexion (Pty) Ltd is a leading black empowered integrator of innovative business solutions based on information and communications technology (ICT). With over 4500 employees and a track record spanning 28 years, Business Connexion runs mission-critical ICT systems and manages products, services and solutions for JSE listed and key public sector organisations, parastatals and medium-sized companies. Business Connexion has a unique Solutions Integration Model that illustrates how clients are placed at the centre of all activities surrounded by expertise in four principal business areas: Technology Infrastructure, Business Applications, Outsourcing and Communications. In order to deliver a world-class service Business Connexion has developed strong relationships and attained top-level certification with many of the world’s leading ICT suppliers.

HPB Croatia goes live with Finacle e-banking solution

Zagreb, London, Bangalore, May 21st 2007

Finacle from Infosys and Hrvatska Postanska Banka d.d. (HPB) announced today that Finacle e-Banking solution has gone live at HPB in Croatia. The solution, which went live in a remarkably short turnaround time, will accelerate the growth of HPB’s retail banking business and enhance its customer relationships across the country.

With Finacle e-banking solution being available in Croatian language and the payment module configured to Croatian law, HPB customers will be able to make enquiries and transactions in the local language through internet banking, which also include making payments to beneficiaries such as tax authorities and utility service providers.

Till recently, HPB, the largest state-owned bank in Croatia, serviced its clientele through postal offices and its branch network. With intent to target a younger, technology savvy customer base linked to its overall objective of providing a broader spectrum of retail banking services, HPB saw cutting edge internet banking offering as a key business imperative.

The bank wanted to maintain its competitive edge in the market and ensure that it adapted to changing customer requirements using the most innovative solutions available in the marketplace. After a comprehensive evaluation, HPB chose Finacle Universal Banking Solution to drive its technology-led transformation initiative. The immediate priority for the bank was internet banking. Following a rapid implementation of Finacle e-banking solution in less than six months, HPB is now able to provide its customers with a wide range of internet services.

‘The rapid implementation is a demonstration of the quality of the solution and the implementation team from Infosys,’ comments Sasa Stankovic, Senior Executive Director – Project Management Office in HPB. ‘Our existing environment needed a radical transformation in infrastructure to improve our performance and enhance our customer service. We are delighted that the team of experts from Infosys has enabled us to go live quickly on Finacle e-banking solution. Croatians have been at the forefront of adoption of new technologies such as e-banking and mobile banking and we are confident that our internet banking offering would be a very attractive proposition in the market”.

According to Haragopal M, Vice President & Global Head, Professional Services – Finacle, Infosys, ‘We are delighted to see Finacle e-banking successfully powering the aggressive retail banking focus at HPB. The region continues to be a key focus area for Infosys and we look forward to working closely with the bank as they expand their business rapidly and leverage technology to stay ahead in the market.”

The bank is expected to achieve another key milestone in its technology-led transformation journey when Finacle core banking solution is scheduled to go live later this year in October. Finacle core banking would be deployed in a phased manner at HPB as per the business priorities. By November 2007, key modules of Finacle core banking would be deployed across the branch network of HPB enabling the bank to offer innovative banking products and services efficiently. Further, Infosys would strengthen the treasury operations of the bank with the planned deployment of Finacle treasury solution by the end of 2007.

Finacle is a global player in the banking solutions space, with a customer base spread across 54 countries. The solution has a strong presence in Europe, Asia-Pacific, Middle East and Africa. Finacle differentiates itself through its new generation technology architecture and its strong implementation track record.

Finacle core banking solution has recently received recognition from top analysts including Gartner, Forrester and Celent. Gartner, Inc. has positioned Finacle in the Leader Quadrant in the recently released ‘2006 International Retail Core Banking Magic Quadrant’ report while Forrester featured Finacle as a leader in the Forrester Wave report – Retail Banking Platforms Q4 2006 (Nov 2006).

About Finacle Universal Banking Solution

Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging agile new generation technologies. The solution addresses the core banking, e-banking, treasury, wealth management, CRM, and cash management requirements of retail, corporate and universal banks worldwide. Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable solutions in its class. www.edgeverve.com/finacle

About Infosys Technologies Ltd. (NASDAQ: INFY)

Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, 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 69,000 employees in over 39 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com

About Hrvatska poštanska banka

The Bank was founded and registered as a joint stock company in 1991. Its head office is in Jurišiceva 4, Zagreb. The Bank operates on the national level through a network of six branches, and nineteen branch offices located in all major regional centres, and 174 ATMs. Thanks to a strategic partnership with the Croatian Post, the Bank is the market leader in payment transactions, using a network of 1,100 Post offices and over 1,400 installed EFT POS terminals.

The Bank operates as a “universal” bank serving corporate and individual clients and provides a range of financial products and services, including short-term and long-term financing, deposits and savings products in local and foreign currencies, domestic and foreign clearing payment operations, investment banking including asset management, brokerage services, custody and other banking services.

Through the network of its own branches and Post offices, the Bank has been recognized as a dominant financial service provider for retail customers on the entire territory of the Republic of Croatia while also supporting the Croatian economy, especially in the small and medium sized enterprise (SME) sector.

As a domestic bank and the only large bank that is majority state-controlled, the Bank ranks among Croatian banking leaders both by the total asset size of HRK 11.3 billion and by its share equity, placing it in the seventh position with a 3.7 % market share.

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. 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.

Press Contact

For further information, please contact:

Kelly Murray (for Infosys Finacle)
Golin-Harris
T: +44 (0) 20 7067 0470