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Author: BankerNoMore Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 38  
Subject: Ranked in Business Week's Top 100 Global IT Cos Date: 6/12/2001 8:09 PM
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Per: http://biz.yahoo.com/bw/010612/2615.html

Tuesday June 12, 4:59 pm Eastern Time

Press Release

Wipro Ranked in Business Week's Top 100 Global IT Companies

BANGALORE, India & SANTA CLARA, Calif.--(BUSINESS WIRE)--June 12, 2001--Wipro Limited (NYSE: WIT - news), a leading global provider of IT services to international companies with US headquarters in Santa Clara, California, today announced that Wipro has been ranked in the fourth annual listing of the 100 best-performing technology companies in the world, as compiled by international business publication, Business Week.

This list, ``The Info Tech 100,' is dominated by companies that have either achieved the efficiency long promised by the technology revolution or that sell products and services to help other companies improve their bottom line.

To compile the ``IT 100' list, Business Week started with financial data from Standard & Poor's Compustat, a division of The McGraw-Hill Companies that has compiled data on 10,000 publicly traded companies. From the universe, they culled the tech leaders and then added non-U.S. companies. To make the final cut, companies were measured by four criteria given equal weight: revenue, revenue growth, shareholder return and return on equity.

Says one Silicon Valley consultant, ``With Internet exuberance barely cold in the grave, a far more sobering period has arrived: the era of efficiency. The days of free spending on technology and wide-eyed optimism about the Internet have given way to clenched pocketbooks and pure pragmatism. Suddenly, today's executives are no longer asking about technology that will help them launch new businesses but about gear that will cut costs and
wring more efficiency out of workers.'

Wipro has the distinction of being the sole Indian company in this elite group, along with other giants such as Microsoft, IBM, Dell, EDS and Oracle. Business Week ranks Wipro 16th in the list of the world's top software services and distributor companies, and
87th overall.

Vivek Paul, Vice Chairman, Wipro, comments, ``We're pleased with the recognition of Wipro Technologies among the global IT majors. This is a step on the way to our vision of being among the top 10 IT services companies in the world. Our value proposition of global quality leadership, technical depth and an attractive cost position are the sustaining drivers for our growth.'

About Wipro Limited:

Wipro Limited is the first SEI CMM Level 5 certified IT services company operating in the global
market. Wipro provides Research and Development services to Telecom and Electronic product
companies and software solutions to global corporate enterprises. In the Indian market, Wipro is a
leader in providing IT solutions and services for the corporate segment offering system integration,
network integration and IT services. Wipro also has profitable presence in niche market segments of
consumer products and lighting.

Wipro Limited is headquartered in Bangalore, India. In addition to its New York Stock Exchange
listing, Wipro's equity shares trade in India on the Stock Exchange - Mumbai, National Stock
Exchange, the Bangalore Stock Exchange, the Delhi Stock Exchange, the Ahmedabad Stock
Exchange and the Cochin Stock Exchange.

For more information, please visit our websites at www.wipro.com and www.wiproindia.com.

Contact:

Wipro, Santa Clara
Sridhar Ramasubbu, 408/557-4402
or
Taylor Rafferty, New York
James P. Prout, 212/889-4350
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