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PRESS RELEASE
FOR IMMEDIATE PUBLICATION
HEXAWARE ASSESSED AT LEVEL 5 OF SEI CMMI
Assessment certifies Hexaware’s commitment to build value for its customers
by adopting high maturity best practices
Mumbai, December 29, 2004 - Hexaware Technologies Limited, a global
software services organization was assessed at Level 5 of the SEI CMMI by
SEI authorized Lead Assessor V. Kannan of KPMG Consulting. The
assessment covered all the development centers - located at Chennai and
Mumbai.
For Hexaware, which had already been assessed SEI CMM Level 5 in 2000,
the latest assessment is a significant milestone in their pursuit for continual
process maturity and improvement. Hexaware has chosen differentiation and
focus as growth drivers and successfully established long term relationships
with customers. Hexaware focuses in the areas of Application Management,
Legacy transformation/rejuvenation and Enterprise Solutions using
PeopleSoft, Oracle and SAP product platforms.
The CMMI model was developed by the Software Engineering Institute of
Carnegie Mellon University. The model covers 22 process areas and over
400 key practices. With respect to the earlier CMM Model, the CMMI Model
has higher focus on the Engineering areas, Risk Management, Decision
Analysis, using measures that link to business objectives and quantitative
performance improvements to achieve business objectives. This enables a
higher level of predictability and visibility into projects for customers.
P.K. Sridharan, Executive Director, Hexaware Technologies said,
“Hexaware, over the years, has adopted high maturity best practices in
software development and engineering, which has helped us to achieve and
sustain better than industry growth levels. It has given us the confidence to
undertake and successfully deliver large projects. This new accreditation
demonstrates Hexaware’s commitment to its vision of building value for its
customers.”
According to V. Kannan, KPMG, “Hexaware processes have evolved
continuously over the last six years. The richness of the process, the sincerity
with which this is implemented and demonstrated quantitative benefits from
the implementation are the key strengths.”

About SEI and the CMM
The Software Engineering Institute (SEI) is a federally funded and
development center sponsored by the US Department of Defence. The goal of
the SEI is to foster improvement in the processes used to develop software
and thus improve the quality of the software itself. CMMI consists of five
maturity levels with an organization demonstrating increasingly more mature
software processes as it moves from Level 1 to level 5.
About Hexaware:
Hexaware Technologies, a global IT services provider specializes in Enterprise
solutions, Application Management, EAI, e-Commerce, and Embedded
Systems. With global offices in USA, Canada, UK, France, Germany, Japan,
Singapore and India, Hexaware has deep business process expertise in areas
like Airlines, Banking and Financial services, Insurance and Healthcare
industries. With more than 3,500 people, the company recorded a
consolidated revenue of Rs.1,461.97mn in the third quarter ended
September 2004 - up 59.9% from the third quarter of 2003. For more details
visit: http://www.hexaware.com
Safe Harbor:
Certain statements on this press release concerning our future growth prospects are
forward-looking statements, which involve a number of risks, and uncertainties that
could cause actual results to differ materially from those in such forward-looking
statements. The risks and uncertainties relating to these statements include, but are
not limited to, risks and uncertainties regarding fluctuations in earnings, our ability
to manage growth, intense competition in IT services including those factors which
may affect our cost advantage, wage increases in India, our ability to attract and
retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time
frame contracts, client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks, our ability to successfully
complete and integrate potential acquisitions, liability for damages on our service
contracts, the success of the companies in which Hexaware has made strategic
investments, withdrawal of governmental fiscal incentives, political instability, legal
restrictions on raising capital or acquiring companies outside India, and unauthorized
use of our intellectual property and general economic conditions affecting our
industry.
For more information contact:
Swapna Bhandarkar
Hexaware Technologies Limited
Tel : 022-5654 2682 / 83
Fax : 022-2287 2939
e-mail:swapnab@hexaware.com/
investor.relations@hexaware.com
Issued on behalf of Hexaware
Technologies Limited by:
Samrat Banerjee
Adfactors PR Pvt Ltd.
Tel: (022) 2281 3565
Fax: (022) 2281 3569
e-mail:samrat@adfactorspr.com