INFOSYS TECHNOLOGIES LIMITED LISTS ON THE NASDAQ STOCK MARKET; FIRST INDIAN-REGISTERED DIRECT LISTING ON A U.S. MARKET WASHINGTON, March 11 /PRNewswire-AsiaNet/ -- Infosys Technologies Limited of Bangalore, India -- one of India's leading information technology companies -- began trading today on The Nasdaq Stock Market(R) under the symbol INFY. This is the first India-based company to list directly on a U.S. stock market. NationsBanc Montgomery Securities LLC, BancBoston Robertson Stephens, BT Alex. Brown and Thomas Weisel Partners LLC are the managing underwriters of the offering. Infosys provides software services and products to customers around the world and has a market value of approximately $1.9 billion. Founded in 1981, the company pioneered the concept of cross-border collaborative software development on a state-of-the-art computing and communications backbone. Benchmarked against global best practices, Infosys's quality control and methodologies in project management have helped it to achieve the industry's prestigious SEI CMM Level 4 and ISO 9001/Tick IT accreditations. Through its worldwide sales headquarters in Fremont, California, and 16 other sales offices located in the United States, Canada, the United Kingdom, Germany, Japan, and India, plus 11 software development facilities located throughout India, Infosys is able to capitalize on time-zone differences to create a 24-hour workday. During its fiscal year that ended March 31, 1998, the company derived 82.3 percent of its revenues from North America, 9.0 percent from Europe and 2.6 percent from India. "The addition of Infosys Technologies to The Nasdaq Stock Market will provide investors with a new opportunity to participate in the evolution of the world's information technologies industry. By trading on our market, Infosys joins the ranks of some of the most innovative enterprises in the world, including 440 non-U.S. companies. That's more foreign listings than on any other U.S. market," said Frank G. Zarb, Chairman and CEO of the National Association of Securities Dealers, Inc. (NASD(R)) and The Nasdaq-Amex Market Group(SM), which operates Nasdaq(R). "The Nasdaq listing helps Infosys achieve a more liquid currency for attracting the best employees and for future acquisitions," stated Narayana Murthy, Chairman and CEO of Infosys. "In addition, we anticipate that our presence on Nasdaq will provide potential customers all over the world a greater degree of comfort and confidence in our company." Infosys Technologies Limited is a publicly held company that provides information technology (IT) consulting and software services to Fortune 1000 companies. Infosys offers software services such as application development (on a fixed-time and fixed-fee basis), including E-Commerce and Internet applications, software maintenance, and establishing offshore software development centers. The company employs more than 3,000 people. For more information, contact Infosys Technologies at 510-770-3673 or visit Infosys on the World Wide Web at: http://www.itlinfosys.com. The Nasdaq-Amex Market Group, which operates The Nasdaq Stock Market and the American Stock Exchange(R), is a subsidiary of the NASD, the largest securities-industry, self-regulatory organization in the United States. The union of Nasdaq and Amex(R) creates the world's first financial market that brings together central auction specialist and multiple Market Maker systems. The Nasdaq Stock Market lists nearly 5,100 companies and trades more shares per day than any other major U.S. market. Since making its debut as the world's first electronic stock market, Nasdaq has been at the forefront of innovation, using technology to bring millions of investors together with the world's leading companies. It is among the world's best regulated stock markets, employing the industry's most sophisticated surveillance systems and regulatory specialists to protect investors and provide a fair and competitive trading environment. For more information about Nasdaq-Amex, visit the Nasdaq-Amex Web site at http://www.nasdaq-amex.com or the Nasdaq-Amex Newsroom(SM) at http://www.nasdaq-amexnews.com. SOURCE Nasdaq Stock Market CONTACT: Scott Peterson, 202-728-8955, or Mike Shokouhi, 202-728-8197, both of Nasdaq; or DV Devarakonda, 510-770-3673, or Marti Colwell, 619-458-1818, both of Infosys Web site: http://www.itlinfosys.com Web site: http://www.nasdaq-amex.com Web site: http://www.nasdaq-amexnews.com