Syntel, Inc. Officially Opens the NASDAQ Stock Market Today

NEW YORK, March 5 -- Bharat Desai, Chairman and CEO of Syntel, Inc. opened The NASDAQ Stock Market in New York at 9:30 a.m. today.

Serving as the epicenter for NASDAQ news and events, NASDAQ's MarketSite is located in the heart of New York's Times Square. Each day MarketSite hosts some of the world's business leaders to preside over the Market Open. Syntel was selected for this honor because of our recent appearance on the "Top 100 Stock" list published by Bloomberg Personal Finance magazine.

In his remarks prior to opening the market, Desai discussed how the services industry was becoming more globalized in nature and the fact that smart corporations were aggressively tapping into global delivery platforms for the fast, cost effective IT services. Syntel, with a network of development centers around the world, is well positioned to benefit from this shift, Desai continued.

David Weild, Vice Chairman of NASDAQ, commented that he feels particularly proud of the company's success since he was part of the NASDAQ team that took Syntel public in 1997.

At 9:30 a.m. sharp, Desai officially opened the market and trading began, as members of the Syntel management team, clients, financial analysts and other invited guests cheered from the NASDAQ MarketSite studio.

Syntel will also run a 30-second "commercial" several times throughout the day Wednesday on the MarketSite Tower, located at 43rd and Broadway. This high-tech electronic display wraps around the cylindrical NASDAQ building, providing up-to-the-minute financial news, market highlights, and advertisements. The MarketSite Tower is featured in films, television programming, and news articles. This modern day icon soars seven stories high and illuminates Times Square 24 hours a day.