Syntel Named to the VARBusiness 500 List of Top Solution Providers in North America

TROY, Mich., Aug. 18, 2003 -- Syntel, Inc. announced it has been named to VARBusiness Magazine's 2003 list of the 500 largest solution providers in North America. The list is published in the June 23, 2003 issue of VARBusiness.

Syntel, which had revenues of over $161 million in 2002, moved up 12 places from the previous list to #162. The publication ranks North American technology organizations based on overall company revenues.

"Being recognized as one of the largest solution providers in North America is an honor for Syntel, especially during such challenging economic times," said Syntel Chairman and CEO Bharat Desai. "Syntel is growing with our customers and we expect great things in the future as more corporations embrace the Global Delivery Model that Syntel helped pioneer."

The 2002 VARBusiness 500 generated more than $313 billion in revenue in 2002.

About Syntel

Syntel is a leading global provider of custom outsourcing solutions in a broad spectrum of information technology and information technology-enabled services. The Company's vertical practices support the entire Design-Build-Operate-Optimize lifecycle of systems and processes for corporations in the Financial Services, Insurance, Retail, Health Care and Automotive industries. The first US-based firm to launch a Global Delivery Service to drive speed-to-market and quality advantages for its customers, Syntel now leverages this efficient model for the majority of its Global 2000 customers. Named one of Forbes Magazine's "Best 200 Small Companies in America," Syntel has approximately 3,200 employees worldwide, is assessed at Level 5 of the SEI's CMM and is ISO 9001:2000 certified. To learn more, visit us at: www.syntelinc.com.