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PSI in NASSCOM's 100 IT Innovators list

PSI has been selected in NASSCOM's 100 IT Innovators 2007 - an annual initiative that honours Indian IT companies that have injected innovation into existing know-how and come up with new ideas, products, business models, processes or technologies. PSI's mission as a best-in-class, end-to-end solutions partner to the financial services ecosystem, drives its strategy of investing in developing solutions to meet the needs of global markets. Its Trade Finance insights in the corporate banking space led to the definition of a comprehensive, new offering - the PSI Trade Finance Universe solution - led by the TradeFree suite supported by a rich PSI Component Library and best-in-class solution integration services. As PSI's entry in the prestigious market-facing innovation category of the NASSCOM 2007 Top 100 Innovators Awards, the PSI Trade Finance Universe emphasises PSI thought leadership in anticipating market trends and technology directions for its clients.

Commenting on PSI's entry in the NASSCOM 100 IT Innovators Awards, Mr. S.V.Venkataraman, PSI's COO and EVP - Financial Services Business said, "As a best-in-class company with a differentiated solutions-led approach, PSI has been investing in developing solutions for global clients. The PSI Trade Finance Universe encapsulates part of our deep insights in the banking space and brings a comprehensive solution offering to corporate banks. We received very favourable response at its unveiling in Boston during SIBOS 2007 in October last year. And the NASSCOM Top 100 Innovator recognition provides a further boost to our thought leadership and capability".

About PSI
PSI Data Systems Limited is the Information Technology business of the Aditya Birla Group, one of India's largest business houses. PSI is a best-in-class solutions company serving banking, financial services and the high tech markets, globally. PSI operates offices in the USA, Europe, Japan and delivery centres in India.

Contacts
Nilanjan Chaudhuri,
Vice President - Marketing
PSI Data Systems Ltd
Email: nilanjan.chaudhuri@psi.adityabirla.com
Tel: + 91 080 3055 8000

Safe harbour
Certain statements in the release could be 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. Investors are advised to exercise their own judgment in assessing various risks and uncertainties associated with the company.