1. Mastek Ltd. http://www.mastek.com January 13, 2004

2. Financial Performance First Half (2003-2004) Guidance Total IncomeRs. 186.9 Cr.Rs. 184 Cr. Net Profit Rs. 7.1 Cr.Max Rs. 7 Cr.

3. Income Vs. Profit Rs. Crs%

4. Operating Cashflows Rs. Crs

5. Financial Services

6. Maintenance Revenue

7. Highlights  Strategic outsourcing relationship with BT subsidiary Syntegra  Winning one of the largest projects in terms of size and tenure by an Indian IT services provider  Preferred vendor relationship with F-500 Computer hardware manufacturer  Dedicated offshore development centre for ePolicy  Breakthrough in Health Care domain  Initiation of partnership with Capita in the BPO space

8. Financial Discipline  Receivables under control with DSO at 65 days  Healthy cash flows with Cash & Cash equivalents worth Rs.74 crs. against Rs.59 crs. In the previous quarter  Virtual Debt free status

9. Operations Overview

10. Strategy for market penetration  New name Sales  Account Progression  Insurance Vertical

11. Strategy for market penetration  New name Sales  Focused approach to identified market segment is improving the hit ratio and size of deals e.g. NHS deal as a consortium partner of Syntegra  The Sales team grouped around the market focus  Account Progression  Progressed identified accounts like a Large Asset Management Company to million+  Have put together focused strategies to similarly grow a large System Integrator, a Technology Hardware Major, etc acquired this year  Insurance Vertical

12. Insurance Practice Line  Insurance Centre  Rolling out global implementation for FT Insurance major  Framework based approach helping in progressing sales funnel

13. Outcome  Move towards sustainability  Healthy pipeline in large scale deals – Insurance, Outsourcing space  Movement from project/small to capacity/big  Increased order backlog to Rs.197 crs

14. Update on Partnerships  Deloitte JV :  JV strength touched 450 persons  Six month revenue at Rs.55 crs and PBT of Rs.16 crs  Capita JV :  FIPB approval received for Investment in the entity by Capita  Initiated transition work for internal work of Capita. Work would begin in next quarter.  Offshore center forming part of new bids by Capita  Carreker JV :  First BPO LOI received from a major Bank.  Project for Carreker’s IT job has begun

15. Capita Mastek BPO : The Genesis  Mastek established a world-class BPO facility in Mumbai : March 2003  In line with our philosophy of working through Partners, Mastek sought a quality partner who could complement Mastek’s strengths  Capita (existing long-term IT customer) was identified as such a partner  Contracted with Capita for a Joint Venture, Capita Mastek BPO Ltd.  Onsite-Offshore expertise  Domain Expertise  Project Management skills  Technology leadership MASTEK  Leader in UK BPO market  Financial / Insurance services expertise  Multi-channel contact centers  Transaction Processing  HR, Payroll, Administrative services CAPITA MASTEK J.V.  BPO Execution – Transaction Processing & Call centers  Cost-effective operations & quality consciousness  Process management and re-engineering skills  Effective combination of IT & BPO skills

16.  UK’s leading provider of integrated professional support service solutions  Founded in 1984, now with over 17,000 employees at more than 200 offices in the UK  Robust financials, with a forecast turnover of $1720 Mn. (Dec 2002 : $1440 Mn.)  Interacts with 33 million people in the UK  Administration & correspondence for more than 6 million shareholders  Produces nearly 14 million pay slips  Deals with 21 million contacts via 11 call and contact centers  Handles 750,000 household, travel and motor claims dealing with 3 million calls About Capita – Our JV Partner Market Rank (2002) Mkt. Share Rank (2001) Mkt. Share UK BPO Market Overall124%119% Local Government125%124% Central Government39%3 Insurance & Fin. Services120%126%

17. Capita Mastek BPO : Capabilities AreasCapabilities InfrastructureFully equipped operations center with administrative and support infrastructure, local connectivity redundancy, backup power arrangements, clear scale-up plans TechnologyImage-based workflow processing, web-based transaction processing, ManagementExpertise in setting up and managing BPO units, Successful track record of partnerships, Strong project management skills, Global client relationships, Transparency Process SLA-driven operations, strong quality focus, well-defined procedures, process orientation, control culture, knowledge transfer methodology, business continuity & disaster recovery procedures People Domain and process experts, well defined training, orientation and career development programs

18. Thank You

19. Copyright 2003 Mastek (All rights reserved)  No part of this presentation may be reproduced or transmitted in any form or for any purpose without the express written permission of MASTEK  MASTEK, Majesco Logo are trademarks or registered trademarks of MASTEK in US and in several other countries all over the world