Wipro inaugurates new development center for Zurich Financial Services

Bangalore, Aug 20, 2007 – Wipro Technologies, the Global IT Services Division of Wipro Limited (NYSE: WIT) announced the inauguration of a new offshore development centre for Zurich Financial Services Group (Zurich) at Chennai on Aug 20, 2007. The two groups of companies signed a framework agreement earlier this year, for Wipro Technologies to provide application development and maintenance services in seven countries.

Jessica Whitman - Zurich ASP (Application Service Provider) Sourcing Account Executive and Alan Stanley - Zurich ASP Sourcing Supplier Value Management inaugurated the facility in the presence of Soumitro Ghosh, Senior Vice President & Head of Banking and Insurance Practice, Ramesh Ponnuru, Vice President Insurance Practice and Global Client Executive, Wipro Technologies and the Wipro teams working for Zurich.

The 300-seater development centre will be dedicated to Zurich.

Zurich Financial Services Group is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 58,000 people serving customers in more than 170 countries.

Michael Paravicini, CITO, Zurich said “We believe that Wipro is a valuable ASP Sourcing provider, with a strong offshore delivery record that has been experienced at Farmers Insurance which will help Zurich to achieve its business objectives. This relationship will also help us consolidate our sourcing strategy.”

Soumitro Ghosh, Senior Vice President Banking and Insurance Practice, Wipro Technologies said “We are pleased to work for a leading global player like Zurich. Wipro has considerable experience and expertise in the Financial Services industry and our strong track record makes us a reliable partner for the leaders in the industry. We see this relationship as an important milestone for Wipro’s Insurance Practice.”

Ramesh Ponnuru, Vice President Insurance Practice and Global Client Executive, Wipro Technologies said “We are excited with the opportunities to work together with Zurich globally. The global contract is recognition of excellent relationship and delivery that Wipro demonstrated for the last seven years at Farmers Insurance which is part of Zurich. We look forward to a similar fruitful relationship with Zurich in the years to come.”

About Wipro
Wipro Technologies (NYSE:WIT), is a leading provider of integrated business, technology and process solutions on a global delivery platform. With over two and a half decades of IT experience, Wipro has pioneered the offshore delivery model. Combining extensive capabilities in technology with deep domain expertise, Wipro delivers seamless solutions which bring tangible business value to leading organizations around the world. With over 65,000 employees, Wipro currently engages around 600 clients (with more than 150 are Fortune Global 500 clients) across 4 continents in 53 countries through global delivery centers in 46 locations including 24 nearshore centers in US, Brazil, Canada, UK, Germany, France, Italy, Benelux , Finland, Switzerland, Benelux, Romania, China and Japan. Wipro is the first global offshore services company to adopt an industry-driven market facing structure and has over 40 industry-specific Verticals. Two key attributes to Wipro’s success are a lasting partnership with clients and a full complement of services to serve a wide spectrum of client needs. Wipro is the first PCMM Level 5 and SEI CMM Level 5 V 1.2 certified IT Services organization globally. Wipro provides comprehensive research and development services, IT solutions and services, systems integration, Information Systems outsourcing, package implementation, software application development and maintenance services to corporations globally.

Wipro is listed on the New York Stock Exchange and on the Stock Exchanges in India.

For more information, please visit our websites at www.wipro.com http://www.wiprocorporate.com

Media Contacts:
India: Radhika Mahadevan, Wipro Technologies, +91- 9945042603, radhika.mahadevan@wipro.com
Ranjani S Roy, Gutenberg Communications, +91 9886377941, ranjani@gutenbergpr.com

US: Lavanya DJ, Gutenberg Communications, + 1 917 623 7793, lavanya@gutenbergpr.com
UK: Rahul Kadavakolu +44 792 020 5496, rahul.kadavakolu@wipro.com

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