UBICS, IT Services Division of the UB group wins over USD 1.5 million annual KPM contract from a leading healthcare solutions company in USA

Company release, June 23

New Delhi,2005

UBICS Inc, the Pittsburgh based IT Services Division of the USD 2 Billion UB Group, today announced the prestigious win of a Knowledge Process Management (KPM) project from a leading Healthcare Solutions Company in the US worth over USD 1.5 million for the current year. Along with the win, the company shared the successful starting of its India operations with its development center facility in Pune going on stream.

UBICS has started a dedicated center for the healthcare solutions company in Pune and is currently doing high-end work in the areas of healthcare purchasing and has employed experienced people from medicine and pharmaceutical industry. The business critical work has been given after strict due diligence and UBICS won this prestigious deal against stiff competition from few of the best global IT / ITES companies. The deal which is worth over USD 1.5 million for the first year of operations will be scaled up with talks of several other processes of the same company being handled out of UBICS India development center in progress.

In his statement, Dr. Vijay Mallya, Chairman and CEO of UBICS and Chairman of the UB Group, said, “I am very happy that within months of announcing our India plans and making it a strategic hub for our global initiatives, the India Development Center is fully operational, thus supporting our international business. With this exciting client win and many more in the pipeline, I am sure, UBICS, a successful US company with its parentage with the UB group is poised to become an entrenched player in the Indian IT space.”

As part of the aggressive strategy, UBICS expects a revenue growth of 150 % over the next 4 years. Translated into figures, this will amount to an impressive USD 75 Million, of which 50% will be contributed by the Company’s Indian operations. Currently, the US market accounts for the Company’s majority earnings.

Commenting on this recent win, Mr. Sunil Patil, President– Global Solutions, UBICS, said, “We are very excited with our current win, it is a very prestigious KPM deal from one of the leading healthcare solutions company of US and will involve high end business critical work for the client. Our firm standing in the US market complimented with our state of art R&D center and people capabilities helped us win this contract against global competition from the best IT / ITES companies. Surely, we will be able to share quite a few interesting announcements in the future”.

UBICS is in advanced talks with few more prestigious clients and hope to announce some more wins in the coming months. The India development center is fully operational with total staff strength of 200 people with the dedicated center employing sixty employees from the medicine and pharmaceutical center.

The India Development Centers will serve as a R&D hub for UBICS’ worldwide operations. As part of the aggressive growth plans, UBICS will also market its premium IT products in India. The initial product offerings would include ‘Ventive’ and ‘SeeItFirst’. The Company’s innovative recruitment and resourcing automation product 'Ventive' - built under an ISV agreement with Microsoft, facilitates talent acquisition, development and management. 'SeeItFirst' is a patented Interactive Streaming Video technology that helps organizations deploy video in employee communication, remote training & education, both on demand (archived) as well as real time.

For further information contact:

Vanita Kriplani

Manager – Marketing, UBICS, Pune

Phone: 91 20 27291004

Email: vkriplani@ubicsindia.com

Kanchan Singh M 9322251221

Biswadeep Gupta M 9820371385

Brand-comm

Phone: 022 – 55020056/57

Email: kanchan@brand-comm.com / biswadeep@brand-comm.com