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i-flex's Flagship Product suite FLEXCUBE Ranked the World's No. 1 selling Core Banking Solution for 4th Year in a Row

Mumbai, March 2, 2006: i-flex® solutions (Reuters: IFLX.BO/IFLX.NS), today announced that for the fourth consecutive year, its flagship product FLEXCUBE®, has been ranked the World’s Number One Selling Core Banking Solution for 2005 by International Banking Systems (IBS) UK, in its Annual Sales League Table.

Applauding the role of customers, employees and other key stake holders, Rajesh Hukku, Chairman and Managing Director, i-flex solutions said "Topping the global sales league tables with our flagship product not once but four times in succession is a resounding independent endorsement of FLEXCUBE’s market leadership. I would like to thank all our customers for inspiring us even as we rededicate ourselves to deliver greater value and efficiency”

In the past year alone, some of the world’s leading banks in Western Europe, Japan and USA have chosen FLEXCUBE. FLEXCUBE has consistently been ranked among the top two best selling banking solutions since 1999, and has been ranked Number One since 2002. Since its inception, FLEXCUBE is the choice of over 250 financial institutions across 100 countries, a unique distinction in itself.

The IBS Sales League Table is the industry’s best-recognised global sales listing. It is acclaimed for its independence and agnosticism to supplier hype. The listings are based on a worldwide annual survey of sales of banking solutions, including universal, corporate, retail and private banking solutions, during a calendar year.