© Infosys Technologies Limited Infosys Investor Relations Infosys Investor Relations

12/14/20152 © Infosys Technologies Limited Slide 2 Infosys Technologies Limited Financial Year First Quarter Results July 13, 2004

12/14/20153 © Infosys Technologies Limited Slide 3 Safe Harbor Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed- price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, These filings are available at Infosys may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.

12/14/20154 © Infosys Technologies Limited Slide 4 Contents  Highlights  Operational Performance  Financial Performance  Guidance

© Infosys Technologies Limited Highlights

12/14/20156 © Infosys Technologies Limited Slide 6 Highlights  At the beginning of the quarter  Uncertainty existed relating to Debate on Outsourcing Rupee – US$ movement  Income was projected to be between Rs. 1,363 crore and Rs. 1,371 crore; YoY growth of 25%  Income grew to Rs. 1, crore; YoY growth of 38.61% and sequential growth of 12.44%  We have increased guidance for fiscal Income is projected to be between Rs.6,731 crore and Rs.6,772 crore; YoY growth of 39% to 40%

12/14/20157 © Infosys Technologies Limited Slide 7 Highlights  Our business model enabled us to respond quickly to enhanced business opportunities in the market place  Continue to see a stable pricing environment  Restructuring into Integrated Business Units has created multiple engines of growth with strong leadership  Recently introduced a new approach to outsourcing called ‘Modular Global Sourcing’  Continued investment in developing new solutions  Ongoing focus on integration of Infosys’ subsidiaries with the overall strategy and operations of the corporation Good improvement in business environment with healthy pipeline

© Infosys Technologies Limited Operational Performance

12/14/20159 © Infosys Technologies Limited Slide 9 Client Concentration % Revenues* FY 2005 FY 2004 FY 2004 Q1 Q4 Q1 New Clients Top client contribution to revenues 5.3% 6.5% 5.7% Million dollar clients* Fifty million + dollar clients* Active Clients Repeat Business 98.5% 88.6% 97.8% *LTM – Last Twelve Months

12/14/ © Infosys Technologies Limited Slide 10 Q Q Vertical Domains Q ManufacturingInsurance Banking & Financial ServicesTelecom RetailEnergy & Utilities Transportation & LogisticsServices Others

12/14/ © Infosys Technologies Limited Slide 11 Q Q Revenue by Service Offering Q DevelopmentMaintenance Re-engineeringPackage Implementation ConsultingTesting Engineering ServicesBusiness Process Management Other ServicesProduct

12/14/ © Infosys Technologies Limited Slide 12 Q Q Geographical Footprint Q North AmericaEurope Rest of the WorldIndia 74.7% 17.4% 5.8% 2.1% 65.5% 20.3% 13.0% 1.2% 65.2% 22.2 % 11.0% 1.6%

12/14/ © Infosys Technologies Limited Slide 13 Time & MaterialsFixed Price 30.6% 69.4% 35.9% 64.1% 29.7% 70.3% Revenue by Project type

12/14/ © Infosys Technologies Limited Slide 14 Effort and Utilization Quarter ended Jun 30, 2004Mar 31, 2004Jun 30, 2003 Effort – Services Onsite29.4%30.5%32.1% Offshore70.6%69.5%67.9% Revenue – Services Onsite51.9%53.0%53.9% Offshore48.1%47.0%46.1% Utilization Including trainees73.4%70.2%76.6% Excluding trainees79.7%79.3%83.7% *Excluding software products and business management revenue

12/14/ © Infosys Technologies Limited Slide 15 Employee Metrics Quarter ended Jun 30, 2004Mar 31, 2004Jun 30, 2003 Total Employees27,93925,63417,977 S/w professionals26,02823,86016,434 Billable23,76121,18914,009 Banking Product Group Trainees1,5822,0671,909 Sales & Support1,9111,7741,534 Gross Addition3,2332,8492,592 Net Addition2,3052,4252,101 Lateral Employees Attrition % (LTM)* *Excluding subsidiaries

© Infosys Technologies Limited Financial Performance

12/14/ © Infosys Technologies Limited Slide 17 The Quarter at a Glance (Indian GAAP-YoY) Q1 04Q Total Income (Rs.cr) 38.61% Operating Profit (Rs.cr) 39.60% Basic EPS (Rs.) 38.08% Q1 04Q1 05 Q PAT (Rs.cr) 39.23% Q1 04Q1 05

12/14/ © Infosys Technologies Limited Slide 18 The Quarter at a Glance (Indian GAAP-QoQ) Q4 04Q Total Income (Rs.cr) 12.44% Operating Profit (Rs.cr) 8.93% Basic EPS (Rs.) 15.49% Q4 04Q1 05 Q PAT (Rs.cr) 15.84% Q4 04Q1 05

12/14/ © Infosys Technologies Limited Slide 19 Consolidated Financials (Indian GAAP) Particulars June 30 Growth (%)March 31, 2004 Growth % in Q1 FY 2005 over Q4 FY INCOME Software services, products and business process management Overseas1, , , Domestic TOTAL INCOME1, , , Software development and business process management expenses GROSS PROFIT Selling and marketing expenses General and administration expenses OPERATING PROFIT (EBIDTA) Interest----- Depreciation and amortization (18.46) OPERATING PROFIT AFTER INTEREST, DEPRECIATION AND AMORTIZATION Other income (50.85) Provision for investments(0.01) PROFIT BEFORE TAX Provision for taxation NET PROFIT AFTER TAX EARNINGS PER SHARE* (Equity shares, par value Rs. 5/- each) Basic Diluted In Rs.Crore, except per share data *adjusted for the 3 :1 bonus issue of shares distributed on July 6, 2004

© Infosys Technologies Limited Guidance

12/14/ © Infosys Technologies Limited Slide 21 Indian GAAP – Consolidated Quarter ending Sept 30, 2004*  Income is projected to be between Rs.1,631crore to Rs. 1,645 crore; YoY growth of 42% to 43%  Earnings per share is expected to be Rs.15.10; YoY growth of 33% Fiscal year ending March 31, 2005*  Income is projected to be between Rs. 6,731crore to Rs. 6,772 crore; growth of 39% to 40%  Earnings per share is expected to be Rs ; YoY growth of 34% *adjusted for the 3 :1 bonus issue of shares distributed on July 6, 2004

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