NIIT Technologies Limited, the global IT solutions organization, announced its third quarter results for the quarter ended December 31, 2007. Consolidated revenues stood at Rs.233.8 crore, representing a growth of 2 % over the last quarter.

Europe continued to provide maximum share of business, representing 49% of total revenues, Americas improved its contribution to 31% and rest of the world contributed 20%. Four new customers were added in Europe this quarter.

Commenting on the third quarter results, Mr. Arvind Thakur, CEO & Joint Managing Director, NIIT Technologies Ltd said, “The company continued to extract efficiencies from operations and notched half percent improvement in operating margins in spite of the appreciating rupee.” He also added, “The quarter experienced an excellent intake of US$59 million of fresh business.”

The company does business primarily in three industry segments; BFSI contributed 42%, Travel & Transportation 26% and Retail & Manufacturing 12% of the revenues. It is investing in building non-linear business lines where the growth in revenues does not require proportionate increase in head count.

“To mitigate the long term impact of rising costs and strengthening of the rupee, the company has accelerated the pace of transformation towards non-linear business”, said Mr. Rajendra S Pawar, Chairman, NIIT Technologies Ltd. “IP-Asset based services contribute a sizeable 11% of revenues”, he added.

In all, 213 people were added during the quarter, taking the total number of people engaged at the end of the quarter to 5002.

Highlights of Q3 ended December 31, 2007

• The delivery of services and processes of the company related to Managed Services in the Mumbai and Delhi facilities were certified with ISO 27001 standards and ISO 20000 for IT Services Delivery standards.

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About NIIT Technologies

NIIT Technologies is a leading IT solutions organization, servicing customers in North America, Europe, Japan, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including managed services (e.g. service desks or operations management) and Business Process Management to organizations in the Financial Services, Transportation, Retail, Manufacturing and Government sectors.

NIIT Technologies follows global standards of development, which includes ISO 9001:2000 certification, assessment at Level 5 of both SEI-CMMi and People-CMM frameworks and ISO - 27001 information security management certification. NIIT Technologies’ Thailand operations are assessed at the international BS20000 IT management standards. NIIT Technologies’ subsidiaries, NIIT Smart Serve Limited and NIIT GIS Limited, offer Business Process Management and GIS Solutions, respectively.

Safe Harbor

Certain statements in this release 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 / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies and unauthorized use of our intellectual property and general economic conditions affecting our industry. 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

For further information please visit http://www.niit-tech.com/