ASPIS BANK, GREECE OPTS FOR FINACLE TO REPLACE LEGACY

Infosys’ universal banking solution to power bank’s core banking and treasury operations

Bangalore, April 19, 2005: Infosys Technologies (NASDAQ:INFY) today announced that Aspis Bank, one of the leading medium size retail and commercial banks operating in Greece, has signed up for Finacle universal banking solution to power its core banking and treasury operations across 66 branches.

Aspis Bank is embarking on an ambitious business transformation strategy aimed at achieving aggressive growth and rapid differentiation leveraging technology. At the heart of this strategy is the initiative to replace its legacy systems with a flexible and scalable new generation platform
and Finacle is the chosen solution to replace legacy systems and drive the transformation initiative.

Finacle will enable the bank to create a differentiated customer experience through innovative products, unified customer view, seamless integration with channels and greater customer convenience. Finacle will also enable the bank to achieve greater efficiency and lower costs in its operations and increase fee income. Built on new generation technologies, open industry standards and services oriented architecture, Finacle will replace the existing legacy systems and provide the bank with a future proof technology platform that offers tremendous flexibility, scalability and reduced total cost of
ownership.

According to Mr. George Dayantis, General Manager- Operations and IT, Aspis Bank, "This is a very strategic project for the bank and is core to our technology led transformation initiative. We are confident that by migrating from our current legacy systems to Finacle, it will provide our bank tremendous business agility and time-to-market advantage. Apart from the rich functionality and open architecture, we are especially impressed with its flexibility and scalability, which we feel is critical to our retail driven growth strategy. Infosys’ impeccable delivery track record, global experience of working with leading banks and the financial viability reinforced our confidence in selecting Finacle for a mission critical project of this nature and Infosys as the strategic technology partner of the bank in this key initiative."

Mr. Merwin Fernandes, Vice President and Global Head (Sales & Marketing) – Finacle, Infosys Technologies said, "We are delighted to welcome Aspis Bank to the rapidly growing family of Finacle clients globally. This is an important milestone in our legacy core banking replacement journey. Finacle, with its unparalleled scalability powering some of the largest live sites in the world, services oriented architecture and unblemished delivery track record, has today emerged as the lowest risk solution for banks worldwide wanting to replace their legacy systems and leverage technology to rapidly grow and differentiate. Within this market space, Europe, in particular, is a key focus market for Finacle and we have made significant investments in getting
our products and delivery aligned to the needs of the market".

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