Syntel, Inc. Files Registration Statement for Secondary Sale of Common Stock by Founding Shareholders

Syntel, Inc. (NASDAQ: SYNT) announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of up to 3,000,000 shares of its common stock currently owned by Company founders Bharat Desai and Neerja Sethi (and up to an additional 450,000 shares of common stock to cover over-allotments, if any). The Company will not receive any proceeds from the sale of the shares being registered.

Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book running managers with Jefferies & Company, Inc. and Janney Montgomery Scott LLC acting as co-managers for the offering. A copy of the preliminary prospectus can be obtained from the offices of Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, (212) 325-2580 or from Deutsche Bank Securities Inc., 60 Wall Street, 4th Floor, New York, NY 10005, (800) 503-4611.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration and qualification under the securities laws of any such state.