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Syntel Announces Management Changes - Murugesh Named President; Godbole Appointed CFO; Sales SVP Departs

Syntel, Inc. (NASDAQ: SYNT) today announced the promotion of Keshav R. Murugesh to the role of President, in addition to Chief Operating Officer (COO). Keshav has been serving as COO since October 1, 2004. In addition, the Company announced the appointment of Arvind Godbole to Chief Financial Officer (CFO).

Murugesh, 43, joined Syntel in 2002 from ITC Ltd. in India, where he last served as Vice President, Finance of their Infotech Company. Prior to his appointment to COO in 2004, Murugesh served as Syntel's CFO for two years. Godbole, 49, joined Syntel as Corporate Controller in 2001 and since June, 2006, has been serving as Acting Chief Financial Officer.

"During his four and half years with Syntel, Keshav has consistently demonstrated strong leadership skills and business acumen," said Bharat Desai, Syntel Chairman and CEO. "This management move enables me to focus on strategic initiatives as well as Syntel's mission & vision, while Keshav manages the operational affairs of the organization. Since joining Syntel in 2001, Arvind has consistently done an excellent job managing our finance and accounting functions and has clearly earned this opportunity to serve as the CFO. I wish both Keshav and Arvind the best in their newly-expanded roles. "

"I really appreciate this vote of confidence," said Murugesh "I believe Syntel is extremely well positioned to become one of the premier ITO/KPO firms in the world, and my objective in this new role is to make it happen."

The Company also announced that Chidambaram Lakshmanan, Vice President-Sales, assumes responsibility for Automotive, Healthcare and Diversified Business sales in addition to his current responsibilities, effective December 21, 2006 and that Vinod Swami, Senior Vice President-Sales Automotive, Healthcare and Diversified Businesses will depart the company, effective December 29, 2006.