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.