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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, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, 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, 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, 2006 and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2005, September 30, 2005 and December 31, 2005. These filings are available at www.sec.gov. 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. Agenda: Agenda Market perspective Infosys in Europe Business results Client testimonialsEuropean market perspective: European market perspective Fragmented market Distinct streams of customer behavior across Europe High cultural and linguistic diversity Regulated market European Union and country-level regulations Global Delivery Model adoption is lower Demographic profile Ageing work force Decline in computer science graduates in Western Europe High adoption of telecom technology Customer uniqueness More detailed and demanding on service delivery IT groups focusing more on business value and Return on InvestmentMarket statistics: Market statistics 137 129 121 115 109 Improving IT efficiency continues to be a priority Infrastructure consolidation continues to be a focus area Preference towards ERP packages vis-a-vis custom built applications Increasing interest in Integrated BPO+IT solutions Regulatory changes adding to IT budgets Outsourcing contracts getting shorter *European IT Services Spending Forecast: 2006 To 2010,Forrester Research Inc., May 2006Market statistics: Market statistics * European IT Services Spending Forecast: 2006 To 2010, Forrester Research Inc., May 2006 ASG – Austria, Switzerland & Germany B&N – Benelux & Nordics FSI – France, Spain & Italy EE – Eastern Europe UK&IR – UK & Ireland * IT Services Europe Preliminary Market Share — Database, Gartner Inc., Sep 2005Infosys’ Europe strategy: Country-specific focus Matrix structure – Market and vertical expertise Significant investments and expansion of offices in Europe Near shore centers in UK and Czech Republic Europe-specific capability development Large program management capability Solutions and alliances Infosys’ Europe strategy UK Germany France Switzerland Czech Republic Norway Sweden Belgium Spain 1996 1999 2000 2004 2006 2001 Ireland Italy Denmark The NetherlandsInfosys in Europe: Infosys in Europe Financial Services, Telecom, Energy & Utilities and Pharma and Manufacturing continue to be the growth sectors UK, Switzerland, Benelux & Nordics drive growth Core banking sector opening up for Finacle Consulting capabilities in demand Country-specific and local business knowledge key differentiator Well-rounded service penetration – new services account for 43% of European business *ASG – Austria, Switzerland & Germany B&N – Benelux & Nordics FSI – France, Spain & Italy EE – Eastern Europe UK&IR – UK & IrelandBusiness results: Business results 26 new clients added in the last year Eight $20+ million clients Six > $20 million deals in last year Increased penetration in various countries. Inroads into Ireland, Spain and Norway Alliances and solutions have assisted in multiple new wins Revenue ($ m) Fastest growing geography for Infosys Accounts for 24.5% of Infosys revenues 75 active clients 10,000+ people servicing the clients Europe accounts for 40% of Progeon revenue CAGR = 58%Client testimonials: Client testimonials One-stop-shop and service breadth Executing across the board engagement for a leading investment bank High-end research and development Design and development for Airbus A380 R&D centre with ALSTOM Capability of managing systems core to the client services Revamping core private banking service platform for B-Source Assisting customers in business transformation Enabled BT to rapidly launch high speed broadband in UK market Helped an automotive major in transforming auto finance capabilities Global Siebel solution rollout across 100+ countries for a large logistics company Slide12: - Winston Churchill “Out of intense complexities, intense simplicities emerge.” You do not have the permission to view this presentation. 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