Beverley – Zimbabwe’s leading building society signs up for Finacle

Partnership with Infosys key to transformation

Harare-Zimbabwe, February 24, 2005 Infosys Technologies Limited (NASDAQ: INFY) announced today that Beverley Building Society, a key player in the Zimbabwean financial sector and the country’s leading building society, has signed up for its Finacle universal banking solution. Beverley will deploy Finacle core banking, treasury and CRM solutions across its 52 branches.

Announcing this, Mr. Mike Moyo, Managing Director, Beverley Building Society said, “We are delighted to partner with Infosys in this critical transformation initiative to maintain and enhance our position among the top financial institutions in Zimbabwe. Beverley has ambitious expansion plans and we are confident that Finacle will enable us to grow and successfully meet the emerging needs of our discerning customers, providing us a world class technology platform to innovate and differentiate our offerings.”

Mr. Merwin Fernandes, Vice President and Global Head- Sales & Marketing, Finacle, Infosys Technologies Limited said, “Beverley Building Society is a very important win for Finacle in the Southern African region. Finacle stands out for its consistent track record of rapid and highly successful implementations. We are happy to be chosen as Beverley’s technology partner and are confident that the implementation of Finacle will enable them to achieve their business objectives.”

With this win, Finacle has further consolidated its competitive leadership in Africa, with a foot print extending across 21 banks in 8 countries. Finacle is represented in Zimbabwe by its business alliance partner, FinSys Zimbabwe, which will also be involved in the implementation.

About Beverley Building Society

Beverley Building Society is a Building Society operating in the Republic of Zimbabwe. Among the few profitable and growing institutions in the Zimbabwean financial sector, Beverley offers mortgage lending, retail banking and money market products in Zimbabwe. The Society has adopted a five year plan of growth and expansion locally, regionally and internationally through physical presence, mergers, acquisitions or agencies with a view to establish itself as a leading player in the financial services sector in all its points of presence. The Society plans to harness the benefits offered by advances in technology to enhance customer service and achieve synergy in shared costs, distribution channels and skills (the one stop finance concept). The society has a presence of 52 outlets in Zimbabwe.

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, corporate, community and private 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. For more information, visit 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.