Polaris Appoints Industry Veteran to Execute its Vision

Arup Gupta joins as President & Chief Operating Officer... and Arun Jain Takes the Mantle of Chief Architect.

Chennai/London, October 17, 2005: Taking a leaf out of the theme of 'joining the dots', BFSI software major, Polaris Software Lab Ltd. today plotted another important dot in its growth path - by announcing the appointment of an acclaimed industry veteran, Arup Gupta as President and COO of the company.

Arup Gupta joins Polaris with a rich experience of over 25 years at TCS, where in his last executive role as President - North America, had successfully re-created a fivefold growth in a five-year time span.

Prior to being the President of North America at TCS, Arup nurtured one of the largest development centers for TCS in Mumbai at SEEPZ; he has been involved with every single milestone in TCS's journey so far. With this appointment at Polaris, Arup Gupta brings to the table the same deep understanding and the dynamism that helped TCS to scale up to be at the forefront of global offshore delivery processes.An alumnus of the Indian Institute of Science (IISc) and a long standing member of the Institute of Electronics and Electrical Engineers (IEEE), Mr. Arup Gupta in his capacity as the President & COO of Polaris Software Lab Ltd will be responsible for leading the Global Operations, Delivery and Sales functions of the company.

Based on the validation by one of the world's most acclaimed consulting firms through a recent engagement, the positioning of Polaris promises to be quite unique going forward. It envisions taking a leading edge role as a solutions architecting company, harnessing the powerful Intellectual Property (IP) of the Intellect SuiteT its hallmark offering for Smart Legacy Modernization (SLM) services. Riding on the wave of the current SOA (Service Oriented Architecture) theme, SLM services enables banks and large financial institutions to transition to a new technology platform in a completely seamless and non-disruptive manner; Polaris is among the first proponents of SOA in the BFSI space and the IP lead SmartBuildT approach is the arrow-head to the future. Polaris today is delivering technology that is at the edge-of-the-envelope for 14 of the top 50 global banks - based on the SLMT approach.

Welcoming Mr. Gupta, Mr. Arun Jain, Chairman & CEO of the company said, "with the validation of our focus in the BFS&I segment by a leading consulting firm, the impetus at Polaris is now on Extreme Execution - the paradigm of achieving execution excellence in all its facets. To maintain the momentum, it called for an individual at the top with strong execution skills and who will bring transactional efficiency to lead Polaris into the next phase of growth. Arup brings the best of both - a deep understanding of customer relationships and the ability to scale up operations with a clear thrust on quality of delivery. It's an important milestone for Polaris to have Arup with us and lead our Operations, Delivery and Sales Teams globally."

After Mr. Gupta's arrival, Mr. Arun Jain will also play the role of a Chief Architect for the company -something Arun has been passionate about for a long while.

Elaborating on his decision to join Polaris, Mr. Arup Gupta said " Based on the strengths of its intellectual assets, the inherent best practices and
domain focus, Polaris provided me with a compelling opportunity and a challenge to take the company to the next level. I look forward to the journey ahead in leading the team."

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