The creation of a thousand forests is in one acorn - Ralph Waldo Emerson

© Infosys Technologies Limited Progeon Akshaya Bhargava Chief Executive Officer and Managing Director

June 11, 2005© Infosys Technologies Limited Safe Harbor Certain statements made here concerning 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, 2005 and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2004, September 30, 2004 and December 31, These filings are available at 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. Slide 2

June 11, 2005© Infosys Technologies Limited Progeon’s aspirations The BPO industry in India is still dominated by call centers and captives … … Third party end-to-end BPO for core activities of clients is only beginning to come in now … Niche BPO  Project work (one-off)  Other niche BPO High-volume BPO  Contact Centres  L1 Tech Help  Outbound voice High Exit Barriers Low Exit Barriers Core/Hi-impact functions Non-core/ Low-impact functions Mainstream BPO  Mortgage servicing  End-to-end policy admin  Book closing  High-end accounting  Knowledge services Key support services BPO  F&A, HR  L 2/3 Tech Help  Collections Indian BPO industry today Progeon Goal Existing Customers

June 11, 2005© Infosys Technologies Limited Planned investment in strategic resources Focus on end-to- end back office services Investment in tailor-made technology solutions Identification of strategic customers Capital Markets Insurance/ Healthcare Telecom Enterprise Services (F&A, HR, Procurement, Order Mgmt) Banking Knowledge Services Strategic segments

June 11, 2005© Infosys Technologies Limited We have demonstrated a strong ability to grow.. …While focusing on improving operations ,878 3, FY 03FY 04FY ,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Revenue (Rs cr) Head Count % 13.7 % -3.9% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% FY 03 FY 04 FY 05 Operating Margin Headcount Revenue (Rs. cr) Progeon story

June 11, 2005© Infosys Technologies Limited Performance summary Strong financial performance Net income of Rs cr in FY % YOY revenue growth 5 clients added, net addition of 2,088 people Customer satisfaction - Baseline score – 5.0 / 7.0 Existing customers Rapid ramp up in key clients Managing risks from development on captives front Czech center operational – 2 customers, 11 languages Entry into Knowledge Services segment – first customer contract signed for fixed income research and credit analysis HR Awards – Optimas Award, ASTD citation, HR Award at APAC Forum

June 11, 2005© Infosys Technologies Limited Operations update Operations – Strong governance model with clients Sales – Fully aligned with Infosys HR – Role-based organization structure roll out Quality – Company-wide ISO Certification achieved Finance – Improved expense optimization processes Business Transformation Group - Established the group to focus on continuous improvement in operations We have brought about excellence in operations and support functions required to improve net margins Achieved ISO certification

June 11, 2005© Infosys Technologies Limited Preparing for the future Re-organized to focus on target market segments Focusing on key accounts Strengthening the CFG team Investing in business solutions Improving planning framework Transforming IS landscape Developing talent pool by influencing curriculum in graduate schools Strengthening Progeon culture We have created multiple engines of growth and the management framework required for managing scale

June 11, 2005© Infosys Technologies Limited Points of differentiation Focused 6 strategic segments Full service, end-to-end process management Multi-geography delivery centers — India, Czech, APAC Solution-led approach Custom-built solutions for each segment Combination of technology and operations Predictable outsourcing experience Extension of client organization De-risking focus ‘No-surprises’ culture Strong people practices Ability to attract the best and brightest managers Well-defined career development programs

© Infosys Technologies Limited Thank You