Polaris to set up Center of Excellence in the Retail Banking vertical for SAP® Solutions

Company Brief

Chennai, February 7, 2008

Polaris Software Lab Limited (POLS.BO), a Nasscom Top 10 company and the leader in Specialty Application Development in Banking, Financial and Insurance sector, today announced that it has set up a Center of Excellence (COE) to serve the ever-increasing demand from retail banking customers that are using SAP® solutions.

Polaris’ new COE, will support business process platform for banking from SAP and subsequently collaborate in implementations and consulting. Based in Bangalore, India, the COE will leverage Polaris’ high-quality development practices and strong Banking and Financial Services domain expertise to develop feature-rich, quick-to-implement solutions.

"Our focus on Financial Services domain coupled with our relationship with SAP has helped us play a pivotal role in supporting SAP’s plan for offering comprehensive solutions to retail banks,” said Bikash Mathur, EVP and Head of Polaris Europe. “We are very pleased to set up and grow this Center of Excellence and leverage our domain expertise to fulfill the market demand for solutions delivered on business process platform for banking from SAP. The solutions produced out of this effort are expected to change the customer service paradigm for banks and make the task of technology-enabled transformation of banks much easier. The establishment of a COE also firmly demonstrates Polaris' commitment to its customers using SAP solutions by expanding its portfolio of offerings and services.”

For further information please contact:

Polaris Software

Hari Govindarajan

Mob: +91-99620-06431

e-mail: hari.govindrajan@polaris.co.in