Banking Business Unit Girish G Vaidya Senior Vice

Banking Business Unit Girish G Vaidya Senior Vice President and Head – Banking Business Unit, Infosys © Infosys Technologies Limited 2004 -2005

Safe Harbor Certain statements made in this Analyst Meet concerning our future growth prospects are forwardlooking 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, 2004 and quarterly report on Form 6 -K for the quarter ended June 30, 2004. These filings are available at www. sec. gov. Infosys may, from time to time, make additional written and oral forwardlooking 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 statements that may be made from time to time by or on behalf of the company. © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 2

The Changing Banking Paradigm External drivers compel banks to leverage the developments in Information Technology and continuously innovate External Drivers Tool Result Regulatory change and consolidation Competitive forces Technology-led Innovation Changing Consumer Product & Service Innovation Organizational & process Innovation Technological developments © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 3

Leveraging technology for innovation Product & Service Innovation Implication for Technology • Extensible • Flexible • Parameterizable Organizational and process Innovation • • • Incorporates best-business practices Straight Through Processing Workflows to automate processes Process Centralization Single window service ‘’In the past, industry has tended to be overly focused on PRODUCT innovation. Product innovations at best gives a bank a 3 month head start over competition. PROCESS innovation can put a bank more than a year ahead of competition. Continued success, therefore, comes from process innovation. And the ability of the bank to build ongoing process innovation is determined by flexibility and adaptability of its core banking systems’’ - Chairman of a Large International Bank © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 4

Key imperatives for solution providers » Support “end-to-end” solution as well as “best-of-breed” approach » End-to-end solution straddling all banking businesses/ customer channels » Modular architecture – “plug and play” solution » Open technologies to easily work with multitude of applications – for e. g. solutions for niche areas like Regulatory Reporting, Anti Money Laundering (AML) solutions etc. » Flexibility/ extensibility » Greater business agility – USPs, Lower Time-to-Market » Low dependence on vendor for product launches, process changes etc. » Better ROI through » » » Strong implementation and support capability – upgrades, trouble-shooting Lower overall cost – hardware, software, network, change management Future proofing of technology Scalability Process efficiencies and resource saving through Straight Through Processing » Support global business rules – multi-entity, currency, country, timezones etc. » Better management control through relevant and timely MIS © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 5

Rules of the Game Risk Growth Lowest overall risk Most scalable core banking solution Efficiency Agility Cost effective automation Flexibility beyond parameters © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 6

Infosys offers the lowest overall Risk » Vendor Viability » Strong Balance Sheet and visionary management » End-to-end solution comprising » Fast-growing product suite spanning all banking businesses » Business Process Outsourcing » IT Services » Delivery excellence » Consistent on-time, on-budget delivery » Rapid implementation, setting new benchmarks in every market » Our philosophy is driven by the corporate motto to always strive to deliver beyond expectations » Proven and highly scalable solution » Finacle® powers some of the largest banks world-wide on Open Systems © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 7

Rules of the Game Risk Growth Lowest overall risk Most scalable core banking solution Efficiency Agility Cost effective automation Flexibility beyond parameters © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 8

Growth – most scalable core banking solution » By aggressively leveraging technology, ICICI Bank has in the last 3 years, grown from a retail bank to a universal bank » 2 Mergers in 2 years » Highest peak workload (450 TPS) handled by any open transaction system in the World (Winter Corporation, Waltham, MA, USA) 2001 • 120 branches • 2 m customers • 500 k online customers • <1 m peak transactions/day » PNB – one of the largest state owned banks in India, powered by Finacle®, is today LIVE with 30 m customers with 10, 000 users and is scheduled to cross 60 m customers and 20, 000 users within the next 12 months 2004 • 450+ branches • 10 m+ customers • 7 m+ online customers • 8 m peak transactions/day In a Benchmark on HP Superdome, audited by E&Y, Finacle® clocked >16 m transactions per hour (4, 562 TPS) in the online mode (using a real-life transaction mix and measured in terms of business transactions) © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 9

Rules of the Game Risk Growth Lowest overall risk Most scalable core banking solution Efficiency Agility Cost effective automation Flexibility beyond parameters © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 10

Efficiency – cost effective automation » STP enabled Finacle® » Eliminates manual intervention » CARTS (Complaints And Request Tracking System) at ABN AMRO » Jaguar loan origination system at ABN Amro Bank » Customer migration to channels with Full Service Banking » Delivery channel transactions increased from 6% of the total transactions in 2000 to >70% in 2004 at ICICI Bank » Enables process integration & orchestration (workflow, document imaging) » Integration with Staffware for Trade Services processing at ICICI Bank » Re-use of services (> 100 business services exposed) © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 11

Rules of the Game Risk Growth Lowest overall risk Most scalable core banking solution Efficiency Agility Cost effective automation Flexibility beyond parameters © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 12

Agility – The product manager’s dream » Extensibility toolkit enables the bank to differentiate and innovate quickly & cost effectively » Launching new products » ABN AMRO – cheque account with loyalty points » ICICI student accounts » Product & Process innovation » Relationship based pricing – family units @ ABN Amro bank » Responding to changing regulatory requirements » AML compliance for cash transactions » Delighting the customers » Event based multi-channel alerts for retail and corporate customers by NCB, a leading Caribbean bank © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 13

Flexibility using parameters » Create segment specific products using standard parameters » ICICI Bank Young Stars » Bank@Campus (student » Extensibility toolkit to create USPs » fle. Xaccount from ABN AMRO – Savings + Loyalty Points banking services) » Women’s account © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 14

Where we were… 31 st March, 2000 Revenue $ 5. 32 m Employees 193 Countries 8 Products 2 © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 15

Substantial investments to further globalize Finacle® … » Global product benchmarks completed » Tower. Group, USA for core banking functionality » Peppers & Rogers for CRM » Celent for e-banking in the US » This year we are investing an additional $ 10 m in Finacle® » Products » Substantial increase in our engineering and domain teams to fast track product developmental activities » New product offerings » Web-based cash management » Wealth management » Sales » More feet on the ground globally » Entry into US and China with a sales team dedicated to products » Expand sales force in Europe and APAC © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 16

… are already showing returns - grabbing a larger share of the pie » Based on analysts’ estimates, we believe the annual size of the market for our products is approximately $ 1 bn (source – Tower. Group, Celent) » We believe that an increasingly large number of banks will take a serious relook at their technology solutions » Typically core banking solution replacements consider a 3 years+ lifecycle » Revenues get recognized over multiple years » While we continue to dominate the Indian market. We have further consolidated our position in West Africa » We dominate the e-banking space in Saudi Arabia too – 5 out of 5 deals in the last 24 months » In the past 12 months, we have signed deals covering new markets such as USA, Belgium, France, Mainland China, Thailand, Philippines, South Africa, Australia, etc. » The recently concluded SBI deal has further increased our footprint by 9 countries, spanning advanced markets » Awards from ‘The Banker’, London 2004 – » Mobile Solution of the Year » “Commendable” Application of the Year – Corporate e-banking © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 17

Where we are 31 st March, 2000 30 th June, 2004 Revenue ($ m) 5. 32 29. 20 * Employees 193 860 Countries 8 29 Overseas sales force - 10 Products 2 6 CAGR from March 2000 to June 2004 is 49. 3% * LTM © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 18

In conclusion… » We believe we have an excellent value proposition for our customers » We are investing in our products substantially and are committed to strengthening Finacle’s position as a leading global banking solution » In the last 12 months we have entered various new markets » We believe we are well on our way to consolidating our position as a leading technology partner for banks worldwide © Infosys Technologies Limited 2004 -2005 Analyst Meet 2004 | New Game. New Rules. Slide 19