Leading analysts and bankers deliberate on the banking and technology trends at Finacle Conclave

Goa/Bangalore, March 21, 2006 Finacle Conclave at Goa got off to a flying start with participation of over 100 delegates from 26 countries.

In a debate on retail banking growth drivers, Octavio Marenzi, CEO and founder of Celent Communications predicted that retail banking will increasingly continue to be the key driver of growth for banks in coming years. Mr. Marenzi shared his thoughts on how technology is helping banks manage this unprecedented growth, thereby setting new standards and giving rise to an altogether new set of customer expectations. He further emphasized that the changing retail banking imperatives would include tighter integration of CRM, branch automation and new delivery channels.

Earlier the Finacle Conclave 2006 began on March 20th with an address by Mr. Ricardo Semler, President, Semco S/A and author of famous books ‘Maverick’ & ‘The 7 Day Weekend’. Mr. N R Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies was the first keynote speaker to address the delegates today. Addressing the conference, Mr. Murthy outlined the critical role of the transformation mindset that differentiates the winning organizations from others. He outlined the key factors of leadership including speed and innovation to create a sustainable competitive differentiation.

In another session on the subject of “Bridging the Business and Technology Divide”, Mr. George Dayantis, General Manager, Aspis Bank, Greece stressed on the fact that Business and Technology can no longer exist in isolation. Millions of dollars invested in technology would not give optimum returns till business processes are optimized to leverage the next generation of technology capability.

The first day of the conclave concluded with a panel discussion on ‘Business Priorities for Banks for 2006’. Leading bankers from Australia, Jamaica, Nigeria and Croatia participated in the panel moderated by Mr. Emmanuel Daniel, Founder, The Asian Banker. The panelists engaged in an interesting debate that brought to focus issues like rewriting the cost proposition to compete effectively, intelligent use of technology and most importantly the reality that despite the changing landscape, banks would do well to maintain focus on changing customer demands and adapt the institutions to that change.

Finacle Conclave is a prestigious global banking CXO forum being organised by Infosys Technologies. The event is being held in Goa from March 20-22nd. Besides the global banking leaders, leading analysts and renowned experts from the banking sector are attending this conclave.

About Finacle Universal Banking Solution:

Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging technology. The solution addresses the core banking, e-banking, treasury, wealth management, CRM, and cash management requirements of universal, retail and corporate 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 Technologies Ltd. (NASDAQ: INFY) defines, designs and delivers IT enabled business solutions. These provide our customers strategic differentiation and operational superiority, thereby increasing business competitiveness. Each solution is delivered with a high degree of time and cost predictability that ensures peace of mind. With Infosys, you get a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch your IT budget by leveraging the Global Delivery Model that the company pioneered. For more information, visit www.infosys.com

Safe Harbor:

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, 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, 2005 and our reports on Form 6-K. 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.