Nasdaq congratulates Infosys

Bangalore: Infosys Technologies Ltd (www.infosys.com) has announced pricing of its sponsored secondary offering of 5,218,000 American depository shares (ADSs), representing 2,609,000 equity shares at a price of $49.00 per ADS.

The underwriters have a seven-day option to purchase up to 782,000 additional ADSs, representing 391,000 equity shares.

Infosys will not receive any proceeds of this offering and the net proceeds after the issue expenses will be returned to all the selling shareholders within 30 days of the closing of the offering. Earlier, on 25 July 2003, the Indian invitation to offer concluded with 10,164 offers for 14,863,802 equity shares being offered for sale in the sponsored ADS offering.

The unallocated shares will be returned to all the selling shareholders by 16 August 2003. The maximum offer size of the Indian invitation to offer is 3,000,000 equity shares.

The offering was lead-managed by Citigroup, Goldman Sachs (Asia) LLC and Merrill Lynch & Co, and co-managed by Deutsche Bank Securities and UBS Investment Bank.

A copy of the final prospectus may be obtained by writing to the offices of Citigroup Global Markets Inc, 388 Greenwich Street, New York, New York 10013; Goldman Sachs (Asia) LLC, 68th Floor, Cheung Kong Centre, 2 Queen''s Road Central, Hong Kong; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, World Financial Center, North Tower, New York, New York 10281-1332.

"Nasdaq is very proud of its association with Infosys and we are delighted at this ground-breaking move by one of India''s premier companies," says Robert Greifeld, president and CEO, Nasdaq Stock Market. "India is at the forefront of economic reforms and has produced some of the most exciting companies which are of global scale and quality. We believe that Nasdaq is the natural home for such Indian companies."

Nasdaq (www.nasdaq.com) is the world''s largest electronic stock market. With approximately 3,500 companies, it lists more companies and, on average, trades more shares per day than any other US market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries.

The Nasdaq Official Closing Price (NOCP) was introduced on 14 April 2003 for all Nasdaq National Market and SmallCap securities. NOCP offers investors a transparent primary market close that is validated and subject to Nasdaq and National Association of Securities Dealers (NASD) surveillance.

Through the launch of NOCP, Nasdaq enhanced the accuracy and value of its primary market closing price in Nasdaq-listed issues. NOCP is provided to market participants and investors through market data distributors.