1. Sharing i-flex experience

2. 2 © 2006 i-flex solutions ltd. All rights reserved. Due care has been taken to make this Presentation as accurate as possible. Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements” and may be subject to risks and uncertainties that could cause actual results to differ materially and adversely from those that may be projected by such forward looking statements. These risks and uncertainties and other factors that could affect, including but not limited to, competition, acquisitions, economic conditions, ability to retain highly skilled employees, technology, law and regulatory policies, managing risks associated with its business. i-flex makes no representation or warranties with respect to the contents hereof and shall not be responsible for any loss or damage caused to the user by the direct or indirect use of this Presentation. i-flex may alter, modify or otherwise change in any manner the content hereof, without obligation to notify any person of such revision or changes. All company and product names are trademarks of the respective companies with which they are associated. i-flex ® and FLEXCUBE ® are registered trademarks of i-flex solutions. Reveleus™, Daybreak™, Equinox™ and PrimeSourcing™ are trademarks of i-flex solutions and are registered in several countries. All company and product names are trademarks of the respective companies with which they are associated. COPYRIGHT © 2006 i-flex solutions limited. All rights reserved. Terms of Use

3. 3 © 2006 i-flex solutions ltd. All rights reserved. A leader in delivering technology solutions to the global financial services community. i-flex ® provides a competitive edge to premier financial institutions worldwide through its products and services. World-class Products Comprehensive suite of next- generation banking, brokerage, investment management and mutual fund applications for both transaction processing and business intelligence. Powerful, robust, easy to integrate, and delivering superior TCO. Customized Services to FIs Addressing complex issues facing FIs through our deep domain specialization. Delivering cost-effective solutions with flexible delivery models. About i-flex ®

4. 4 © 2006 i-flex solutions ltd. All rights reserved. Customers: Global presence Zimbabwe South AfricaNigeriaKenya Presence TorontoTokyoSydney ShanghaiSingaporePune New YorkNew JerseyMumbai MoscowMinneapolisMiami Los AngelesLondonFrankfurt DubaiDelhiChennai BangaloreBostonAmsterdam Subsidiaries & Offices: Zimbabwe UK Singapore Mauritius Kenya Hungary China Global Support Delivery ZambiaUSA Sri LankaSouth Africa NigeriaNetherlands MalaysiaKuwait JamaicaIndia GermanyGhana 600 customers serviced in 120 countries (as of Dec ’05)

5. 5 © 2006 i-flex solutions ltd. All rights reserved. i-flex in 2002 Made a strategic decision to enter Latin America Entry strategy included identification if 1 country as a ‘Gateway’ into Latin America Multiple options analyzed carefully Identification of the ‘Gateway’ country key to future success.

6. 6 © 2006 i-flex solutions ltd. All rights reserved. Key Evaluation Criteria – What is needed from the ‘Gateway Country’ Skilled Workforce Quality of Life Dynamic Business Environment Economic Stability Infrastructure

7. 7 © 2006 i-flex solutions ltd. All rights reserved. Snapshot of i-flex research

8. 8 © 2006 i-flex solutions ltd. All rights reserved. What i-flex saw in Chile Skilled Workforce Quality of Life Dynamic Business Environment Economic Stability Infrastructure Skilled professionals, high quality of higher education CHILE Personal Safety, Cosmopolitan city, English not uncommon CHILE Sustained growth, low inflation, Professional approach Sound policies and indicators, 6% GDP growth, A+ rating CHILE Strong telecom infrastructure, roads, railways CHILE

9. 9 © 2006 i-flex solutions ltd. All rights reserved. i-flex and Chile today Chile – A Gateway into Latin America for i-flex The Order of Bernardo ‘O’ Higgins

10. 10 © 2006 i-flex solutions ltd. All rights reserved. Key Challenges of doing business in Chile from India Logistics –Distance from India and time zone Size of the market –Despite strong fundamentals market remains limited with population of 15 million Language – Spanish still a must for doing business in Chile Visas & Immigration issues –Only 3 months visa granted to Indian nationals –Long drawn visa procedure Culture –Trust needs to be earned, and is a slow process –Business negotiations' are through but long drawn Complex Banking System –UF, 2.00 PM cut-off, Novations, Reversals

11. 11 © 2006 i-flex solutions ltd. All rights reserved. Can we overcome these Challenges? ChallengesHow they can be overcome Logistics of doing business from IndiaNeed for local representation, either directly or via partners Local Partner/Distributor empowerment crucial for success Limited Size of marketUse Chile as a springboard into Latin America, and not just a market on its own LanguageNeed for local representation, either directly or via partners CultureEarn the trust, work with local partners, rational/objective approach appreciated VisasNeed for easing visa regulations, Govt. needs to consider longer visas

12. 12 © 2006 i-flex solutions ltd. All rights reserved. Chile – Future Outlook Bright on Chile –Development Centre being evaluated –Hub for business in other countries 5-6 % growth rate, PESO appreciation Higher tech budget of banks and country Skilled manpower Preferential trade agreement Leveraging partner, Entel, DMR consulting -Market intelligence –VISA issues –Local contacts –Office establishment,recruitment –Language –Knowledge of local banking –Timings

13. 13 © 2006 i-flex solutions ltd. All rights reserved. A little about i-flex solutions

14. 14 © 2006 i-flex solutions ltd. All rights reserved. Enabling financial institutions worldwide to excel through the effective use of information technology Mission

15. 15 © 2006 i-flex solutions ltd. All rights reserved. i-flex ® : Snapshot Global brandNone Brand Equity Comprehensive suite of products and services Limited Portfolio > US $ 2.1 Bn (Mar ’06)US $ 1 Mn Capital / M Cap 7,064 (Mar ’06)250 Staff US $ 49.2 Mn (Mar ’06)US $ 0.25 Mn Profits US $ 333.52 Mn (Mar ’06)US $ 2.5 Mn Revenue 120 (Mar ‘06)7 Customer Countries 625 (Mar ‘06)12 Customers 20061993

16. 16 © 2006 i-flex solutions ltd. All rights reserved. End-to-End Solutions for the BFSI Space Technology Deployment & Management Services ASP SERVICESKPO SERVICES - EQUINOX™ CENTERS OF EXCELLENCE CRM Testing Business Intelligence Payments Corporate Banking Investment Banking Private Banking Insurance Retail Banking - Domain expertise: PRODUCT SUITE UNIVERSAL BANKING SOLUTION - MicroBanker

17. 17 © 2006 i-flex solutions ltd. All rights reserved. Accolades Chilean government confers Presidential Order on Rajesh Hukku. IMC Ramkrishna Bajaj National Quality Award for 2004. Neo/IT and Managing Offshore ranked i-flex ® as number one among the Top 10 Specialty Application Development Leaders. PHDCCI honors FLEXCUBE ® ; i-flex ® selected as one of Red Herring’s Top 100 Innovative Companies, Dec 2004. i-flex ® among the Best Small Companies in the Euromoney best Asian companies poll. i-flex ® won the Golden Peacock Innovation Award 2004. FLEXCUBE ® won the Banker technology award for Application of the Year and Core Banking Solution of the Year 2004. i-flex ® / FLEXCUBE ® won the prestigious Global Entrepolis Award 2004 in Singapore. Golden Peacock Award Chilean Government’s Presidential Order

18. T h a n k Y o u !