TCS BaNCS Core Banking Ranked China's No. 1 Core Banking Solution in 2006 by Independent Research Firm

TCS Financial Solutions unit named among top two Banking IT Solutions Providers in China BEIJING and BANGALORE, India, July 30 /PRNewswire/ -- TCS FinancialSolutions (formerly TCS/FNS), a strategic business unit of Tata ConsultancyServices focused on providing state-of-the-art business applicationsolutions, announced that TCS BaNCS Core Banking, one of its flagshipproducts, has been ranked as the top core banking solution in China basedon its performance in the year 2006 by IDC, a leading provider of global ITmarket research. TCS Financial Solutions has also been named amongst thetop two IT solutions providers for the financial services industry inChina. An IDC report, "China Banking Industry IT Solution 2007-2011 Forecastand Analysis", June 2007, evaluated all solution providers based on revenueand market share for 2006. IDC noted that TCS Financial Solutions hasemerged as a major force in China's banking IT solutions market afterwinning major deals with Bank of China and Huaxia Bank. The report cites TCS Financial Solutions for its strong capabilitiesvirtually across all IT solutions for the banking industry. In addition tothe top Core Banking Solution position and being named the second largestIT solutions provider, TCS BaNCS has been recognized as the second largestchannel management system provider, the third largest payment andsettlement solution provider, and was identified as the sixth largestbankcard solution provider in China. "Within China, the banks have been one of the largest IT spenders, andIDC expects that in 2007, the banking industry will focus on optimizingexisting IT investments and consolidating technology." said Quaint Li,Market Analyst, Cross Products and Vertical Research, IDC China. "TCS BaNCShas emerged as the biggest winner in the core banking space, thanks to alarge deal signed with Bank of China." IDC's research estimates that the market for core banking solutions(excluding hardware) in China was RMB 1,036.6 million in 2006, an increaseof 23.8% over 2005. Core banking solutions accounted for 23.8% of theoverall banking solution market and constituted the No. 1 category of bankIT solutions spending. According to the IDC report, China's banking ITexpenditures are forecast to increase 15.1% or RMB 42.1 billion by 2007.IDC forecasts the China banking IT market to reach RMB 72.4 billion by2011. "TCS Financial Solutions' strategy to continuously invest and builddomain capabilities in the banking industry has been validated by TCSBaNCS' ranking as China's top core banking solution and one of the top twoIT solutions providers in China," said Mr. N. G. Subramaniam, President,TCS Financial Solutions. "TCS Financial Solutions remains dedicated todelivering sophisticated solutions and services for leading financialinstitutions in China and around the world." "The recognition from IDC is evidence of TCS Financial Solutions'commitment to delivery excellence through its Global Network Delivery Model(GNDMTM) and its ability to provide Chinese corporations and globalcustomers with best-in-class technology products and solutions," said Mr.Girija Pande, EVP and Regional Head, TCS Asia Pacific. About TCS Financial Solutions TCS Financial Solutions is a strategic business unit of TataConsultancy Services. Dedicated to providing business application solutionsto financial institutions globally, TCS Financial Solutions has compiled acomprehensive product portfolio under the brand name TCS BaNCS. Our missionis to provide best-of-breed solutions that will drive growth, reduce costs,mitigate risk and offer a faster speed to market for our clients. With aglobal customer base in excess of 200 institutions operating in over 80countries, TCS Financial Solutions delivers state-of-the-art softwaresolutions for the banking, insurance and capital markets industriesworldwide. About Tata Consultancy Services Ltd (TCS) Tata Consultancy Services is an IT services, business solutions andoutsourcing organization that delivers real results to global businesses,ensuring a level of certainty no other firm can match. TCS offers aconsulting-led, integrated portfolio of IT and IT-enabled servicesdelivered through its unique Global Network Delivery Model(TM), andrecognized as a benchmark of excellence in software development. A part of the Tata Group, India's largest industrial conglomerate, TCShas over 94,000 of the world's best trained IT consultants in 47 countries.The company generated consolidated revenues of US $4.3 billion for fiscalyear ended 31 March 2007 and is listed on the National Stock Exchange andBombay Stock Exchange in India. For more information, visit us athttp://www.tcs.com.