COGNIZANT TECHNOLOGY SOLUTIONS

GENERAL INFORMATION Founded in 1994 as a division of Dun & Bradstreet Corporation, Cognizant Technology Solutions began doing large-scale full lifecycle software projects. This background helped to build and e-business and outsourcing powerhouse capable of delivering 24x7 project management on the largest software projects, backed by a world class R&D organization that helps clients manage through rapid changes in technology. We provide application outsourcing services and enterprise consulting solutions to Fortune 500 and Blue Chip companies in the US and Europe. Leveraging a streamlined onsite/offshore development model, we can help your organization achieve a world-class level of technical excellence for less than half the cost of having the same work done by other e-business and outsourcing leaders. Our focus is exclusively on business applications. We excel at leveraging specific industry expertise. Our industry experience extends to providing solutions to information intensive businesses and includes service methodologies that have received the highest ratings in the industry, including SEI-CMM Level 5 and ISO 9001. At Cognizant, we employ an integrated on-site/offshore methodology to rapidly deliver top quality, cost-effective IT solutions. By basing our development centers in India, we can tap into a large pool of highly skilled, English-speaking IT professionals with which to service clients on a cost basis significantly lower than that of the US or Europe. OTHER CHARACTERISTICS

Cognizant is 100% end-user application focused while most of the other large offshore firms have a substantial product and R&D focus. Cognizant is focussed on bottom line business results through BPR, IT Portfolio analysis and change management. Business culture is neither India-centric or exclusively Western in style, and strikes the best balance of all the offshore firms. Most Cognizant management has extensive US or European experience, and understands the client culture. At the same time, Cognizant is considered a local player in India with a very strong reputation for excellence. People-centric, knowledge management is stressed.

Cognizant decision-making authority is located closer to the client than other offshore providers. Executive management based in the US, Europe and India. Client partners assigned to clients are accountable and empowered to quickly make all key decisions. Practice heads, CTO, etc. are US and Europe based and highly accessible to clients. Many clients very favorably comment on Cognizants responsiveness, and speed of decision making relative to other offshore competitors. Highest campus rankings (technical and MBA) in India. Cognizant training and development capabilities are the best in the industry and stress process / methodology, and client management. Most objective career management process in the industry. Highest employee satisfaction among Indian software companies in IDC survey released September, 2001. Low turnover (10% voluntary). Equity ownership, consistent stock performance.

Our core competencies range from legacy platform integration and major enterprise applications to emerging technologies such as Java., .NET, and XML web services VALUES Our unique value proposition of better, faster, and less expensive development and management is compelling to our many clients in the US and Europe, most of whom regard us as a long term partner helping them to achieve their business objectives. AREAS OF WORKING Healthcare Media & Publishing Retail ACHIEVEMENTS Went public in 1998 Awarded "IPO of the Year" by Red Herring magazine. In 1999, the New Jersey Technology Council chose us "Public Company of the Year". The Top Solution Provider in Business Week magazine's list of Hot Growth Companies According to Forbes magazine, The Best Small Company in America. Telecommunications Financial Services Insurance Manufacturing & Logistics Pharma

BRANCHES Headquarters: Teaneck, New Jersey Sales Offices: Atlanta, Chicago, Dallas, Minneapolis, Los Angeles, San Francisco, Toronto, London and Frankfurt. Development facilities in India: Chennai, Kolkata, Pune, Hyderabad and Bangalore. CEO & Chairman: Kumar Mahadeva The founder of Cognizant Technology Solutions in 1994, Wijeyaraj (Kumar) Mahadeva is the driving force behind one of the fastest-growing technology services companies in the world. Kumar was born in Colombo (Sri Lanka) and has lived and worked in Europe, Asia and the US. He has a Masters degree in Electrical Engineering from Cambridge University, England, and an MBA from the Harvard Business School. Prior to establishing Cognizant, Kumar was Chairman of Dun & Bradstreet India and China, responsible for business development in the region. Kumar also worked at AT&T, where he was Director of Strategy and Corporate Development, and at McKinsey and Company, where he was a consultant to CEOs of information technology companies on issues related to corporate development, strategy, and operations. He started his career in research and development at the British Broadcasting Corporation in London. LATEST RESULTS Revenue for the first quarter increased to $74.5 million, up 60 percent from $46.5 million in the first quarter of 2002, and up 11% sequentially from the fourth quarter of 2002. On a GAAP basis, net income for the first quarter increased to $10.2 million, or $0.15 per diluted share. Pro forma earnings per share, which excludes $2.0 million in one-time, nonrecurring transaction costs related to the recently completed IMS Health exchange offer, was $0.18, up 50% from $0.12 in the year ago quarter. Operating margin for the quarter was 19.5%, compared to 19.8% in the fourth quarter of 2002 and 19.7% in the first quarter of 2002.