Syntel Implements Phase I European Automotive e-Marketplace: Otomax.com

    TROY, Mich., March 26 Syntel , a global
e-Business and applications outsourcing firm, today announced it has
successfully implemented a $1.2 million Phase I contract to develop a Web-
based e-marketplace called Otomax.com for the purchase, servicing and disposal
of automobiles in Turkey.
    Syntel was awarded the project by Istanbul, Turkey-based Borusan Holding
A. S., a conglomerate of companies engaged in steel and pipe manufacturing,
automobile distribution, logistics, telecommunications, Internet and other
businesses.
    Syntel's on-site and offshore technology teams have developed the
marketplace intended to revolutionize the entire manufactured automotive
lifecycle in Turkey.  The site will enable the selection and purchase of new
and used vehicles, referrals for vehicle financing, insurance and repair
services, consumer sales of used vehicles, bulk vehicle buying, as well as
provision of information to auto enthusiasts.  Borusan has already signed
contracts with automotive dealers and distributors in Turkey and the e-
marketplace was launched as scheduled on March 19, 2001.
    The marketplace is part of Borusan's strategy to leverage the Web to
provide a key channel to manage customer relationships and eliminate
inefficiencies in vehicle sourcing for both consumers and dealers.
    "We chose Syntel for this initiative because they understood both the
business and technological dynamics of what we are attempting to accomplish
with this ambitious marketplace," said Mr. Cengiz Temel, General Manager of
the newly launched venture Borusan Elektronik Ticaret.  "From the start,
Syntel's teams have brought outstanding project management, speed, and quality
delivery to this engagement.  We couldn't have done it without them."
    "This is a rare instance of B2B, B2C and C2C in operation," said Ken
Kenjale, Syntel's Chief Technology Officer.  "Starting with strategic
directions from Bain consultants, Syntel architected the hardware, middleware,
data and application, produced the creative design, and developed and
implemented the system, using Syntel's Global Delivery Service model for the
first time for a Turkish client."  Syntel will continue to provide ongoing
system support on a 24/7/365 basis.

    About Borusan

    Founded in 1944, the Borusan Group is one of Turkey's leading industrial
and commercial groups with companies active in the areas of steel,
distribution (CAT, BMW, Land Rover, Rober), logistics, automotive and
technology.  The Borusan group has entered the e-commerce sector in 1999.  The
group is committed to becoming a major player in all aspects of the vitally
important areas of telecommunications and Internet.  It has begun by taking
stakes in Bnet, an Internet service provider, in Time Communications, a
telecommunications specialist, and in Pargem, a system integrator.
    The Borusan Group creates employment opportunities for 4,200 people in all
the various business activities in which they are involved.  In 2000, the
group had total consolidated sales worth USD 900 million.  The group also
continues to play an exemplary and distinguished role in Turkish life,
supporting a wide range of educational, cultural and artistic activities from
building schools to funding exhibitions.  For more information, please visit
us at: http://www.borusan.com.tr

    About Syntel

    Syntel is a global e-Business and applications outsourcing
company that delivers real-world technology solutions to Global 2000
corporations.  Syntel's portfolio of services includes e-Business development
and integration, wireless solutions, data warehousing, and ERM as well as
complex application development and enterprise integration services.  The
company was the first US-based firm to launch a Global Delivery Service to
drive speed-to-market and quality advantages for its customers.  Syntel's
2,400 employees operate from centers in the US, Europe, and Asia.  To learn
more, visit us at: http://www.syntelinc.com

    Safe Harbor Provision

    This news release includes forward-looking statements, including with
respect to the future level of business for Syntel, Inc.  These statements are
necessarily subject to risk and uncertainty.  Actual results could differ
materially from those projected in these forward-looking statements as a
result of certain risk factors set forth in the Company's Annual Form 10-K
document dated March 30, 2000.  Factors that could cause results to differ
materially from those set forth above include general trends and developments
in the information technology industry, which is subject to rapid
technological changes, and the Company's concentration of sales in a
relatively small number of large customers, as well as intense competition in
the information technology industry, which the Company believes will increase.