i-flex's flagship product suite FLEXCUBE ranked the world's No. 1 selling Core Banking Solution for third year in a row

Mumbai, March 1, 2005: i-flex solutions (Reuters: IFLX.BO/IFLX.NS), a leading provider of information technology solutions to the global financial services industry, today announced that its flagship product FLEXCUBE has been ranked the world’s number one selling core banking solution for 2004 by International Banking Systems (IBS), UK in its annual sales league table for the third consecutive year.

FLEXCUBE has been consistently ranked among the top two highest selling banking solutions globally since 1999 and has been ranked #1 since 2002. The ranking is based on the number of sales of the product during the calendar year. Since its inception, FLEXCUBE is the choice of over 215 financial institutions across 90+ countries.

"This repeated top ranking is a continuous affirmation of the faith our customers have in us," said Rajesh Hukku, Chairman and Managing Director, i-flex solutions limited. "It also reinforces FLEXCUBE's value proposition - a contemporary core banking solution for retail, corporate, investment and Internet banking built on the industry's deepest domain expertise."

Speaking on the occasion, Martin Whybrow, Editor & Publisher of IBS said "i-flex has been the most successful new entrant on the market in the last decade or so, and it’s position for the third consecutive year at the top is testimony to its sales capabilities and delivery track record"

The IBS Sales League Table is published by IBS Intelligence, UK based on a worldwide annual survey of sales of banking solutions including Corporate, Retail and Private banking solutions. IBS is an independent research and publishing house dedicated to the wholesale, retail and private banking systems market. Their publications are globally recognized for their unprecedented coverage of the banking systems market, cutting through supplier hype, with investigative news, features and surveys.

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