Celent Recognises Success of Mastek's ElixirAsia Policy Administration System

Highlights ElixirAsia's Functionality and Mastek's Insurance Expertise in Latest Report

MUMBAI, India, March 24, 2010 - Mastek Ltd, a leading IT solutions vendor providing IP-led
enterprise technology solutions to insurance, government, and financial
services organizations worldwide has been well rated on Advanced Technology
in Celent's "Asian Policy Administration Systems 2009 - Life and Pensions
ABCD Vendor View" report for ElixirAsia - its enterprise-wide policy
administration system.

Wenli Yuan, Senior Analyst, Asia Research Group, Celent,
quotes in the report: "ElixirAsia's recent success on the market is not a
surprise, considering its level of functionality and Mastek's expertise and
experience in the insurance industry."

Reference customers had positive comments about professional
services from Mastek. As per the feedback from customers, the attributes like
responsiveness, project management, implementation completed on budget and on
time and overall project success were ranked as 'Good'. Clients thought the
best thing about the solution was the support for workflow and its
comprehensive modules.

    Customer feedback received also included:

    - A rating of 'Good' on the product design/development,
      rating, policy issue, policy service, disbursements, billing and
      premium accounting, workflow, forms and correspondence functions.

    - Moderate-training requirement, where only a few weeks were
      required before end-users of the policy administration system were
      productive.

    - Ease of integration was ranked as 4. (Rank 1 being very
      difficult and Rank 5 being considered very easy to integrate.)

Mr. Vilas Kanyal, Head - Asia-Pacific at Mastek said,
"ElixirAsia equips the well established insurance carriers as well as the new
entrants in the industry with a strategic system that is essential to grow
their businesses aggressively. It has been built specifically for the Asian
Insurance market on the latest technology, which will give the carriers the
necessary flexibility to launch new products and go to market quickly instead
of being tied down by limitations of legacy-based systems."

Mr. Tom Rogerson, Head of Insurance Product Organization at
Mastek said, "At Mastek, we have consistently demonstrated our capability to
understand and address insurance sector requirements across global markets.
Our product ElixirAsia's rankings in the Celent Report validate the same.
Feedback from our customers stands testimony to our constant endeavour to
provide customers across the globe with high value propositions."

About Mastek

Mastek is a USD 201 Million (FY 2009), publicly held, leading
IT player with global operations providing enterprise solutions to insurance,
government, and financial services organizations worldwide. Headquartered in
India, Mastek has offices across North America, Europe and Asia Pacific
regions. Mastek has over 17 years of insurance experience with over 100
insurance customers globally. With over 5000 man years of experience in the
insurance domain and a dedicated centre of excellence, Mastek's intellectual
property spans across Life, Annuities & Pensions and Property & Casualty
domains.

For more information, please visit our web site
www.mastek.com

Shareholders may also contact Mastek via email at
Investor_grievances@mastek.com, which has been specifically created for the
redressal of investor grievances.

Note: Except for the historical information and discussion
contained herein, statements included in this release may constitute forward
looking statements. These statements involve a number of risks and
uncertainties that could cause actual results to differ materially from those
that be projected by these forward looking statements. These risks and
uncertainties include, but not limited to such factors as competition,
growth, pricing environment, recruitment and retention, technology, wage
inflation, law and regulatory policies etc. Such risks and uncertainties are
detailed in the Annual Report of the company which is available on the
website www.mastek.com. Mastek Ltd. undertakes no obligation to update
forward looking statements to reflect events or circumstances after the date
thereof.

    Media contact:

    Sanjay Mudnaney / Suruchi Sharma,
    +91-22-2824-7745 / 98336-91415,
    sanjay.mudnaney@mastek.com /
    suruchi@corvoshandwick.co.in .

    Investor/analyst contact:
    Abhinandan Singh,
    +91-22-2824-7864,
    abhinandan.singh@mastek.com .

Media contact: Sanjay Mudnaney / Suruchi Sharma, +91-22-2824-7745 / 98336-91415, sanjay.mudnaney at mastek.com / suruchi at corvoshandwick.co.in . Investor/analyst contact: Abhinandan Singh, +91-22-2824-7864, abhinandan.singh at mastek.com .