EXL Makes Strategic Entry Into Europe

NEW YORK -

- EXL Signs Multi-Year Agreement With Schneider Logistics

- EXL Acquires Schneider Logistics’ Business Process Services Operations in the Czech Republic

ExlService Holdings, Inc. (”EXL”) (Nasdaq: EXLS), a leading provider of outsourcing and transformation services, announced today that it has signed a multi-year outsourcing agreement with Schneider Logistics, a global leader in logistics and transportation services.

As part of the transaction, EXL has acquired the operations of Schneider Logistics, SRO in Olomouc, Czech Republic with effect from July 3, 2009. The facility currently provides complex transaction processing services to Schneider and its clients in Europe and the U.S. and has approximately 200 highly skilled employees that will transfer to EXL as part of the transaction. Through its delivery center in Olomouc, EXL will have access to a uniquely qualified talent pool with strong multi-lingual capabilities supported by a world-class university system. The Czech Republic presents significant growth potential enabling EXL clients to leverage the labor pool in the Czech Republic to expand and diversify their outsourcing operations. The Olomouc facility will serve as EXL’s third outsourcing service delivery location outside of India and The Philippines and is an important step in EXL’s strategy of providing seamless global delivery to its clients from countries around the world.

“As we operate the business, we are always looking for opportunities to be more efficient and effective,” said Jack Gross, Senior Vice President, International, Schneider Logistics. “This agreement positions us to continue to provide customers with excellent service while maintaining a competitive, low-cost position in the marketplace.” According to Mr. Gross, the new relationship means Schneider Logistics customers will realize greater efficiencies in their business processes, including European freight audit and payment, logistics engineering, carrier contracting and brokerage business. As part of EXL, Mr. Gross observed, Olomouc-based associates will contribute their transportation and logistics expertise while benefiting from EXL’s unique competencies in outsourcing solutions. The Olomouc business also will benefit from a strong cultural fit and EXL’s intent to build their presence in Europe. “In evaluating this transaction we looked for a company with a stellar reputation, similar core values and a track record of success for associates, customers and the business. EXL meets all those criteria,” Mr. Gross noted.

Vikram Talwar, EXL’s Executive Chairman, stated: “Our relationship with Schneider Logistics is aligned with our stated objective of focusing on select industry verticals in which we can pair our domain and process expertise with our transformational capabilities to deliver value to our clients. This win represents EXL’s third client in the transportation vertical. Our continued growth in transportation complements our strong position in the insurance, utilities, and banking verticals and we expect to continue to invest in industry domain and functional expertise to benefit our clients.”

Rohit Kapoor, EXL’s President and CEO, stated: “Our entry into Europe marks an important strategic achievement for EXL. We continue to grow in a highly focused manner and believe that we are among the most well positioned outsourcing service providers in terms of our financial strength and operational discipline. Despite the difficult economic environment, we continue to invest in expanding our range of transformation and outsourcing capabilities on a global basis for long-term growth.”

Elaborating further, Mr. Kapoor added: “In evaluating our investment options, we give the topmost priority to the current and future growth requirements of our clients. We believe our expansion into Europe will benefit our clients by providing enhanced capabilities in finance and accounting as well as value-added multi-lingual capabilities. This decision will also enable us to provide near-shore business process outsourcing solutions to our European clients. Accordingly, we consider this as an opportunity to better serve our customers by bringing together the best-in-class capabilities from across the globe. And will continue our endeavor to Go Next. Now.”

With the acquisition of Schneider Logistics, SRO in the Czech Republic, EXL will have twelve world-class delivery sites located across India, The Philippines and the Czech Republic. EXL is headquartered in New York and has offices in New Jersey, London and Singapore.

About ExlService Holdings, Inc.

ExlService Holdings, Inc. (Nasdaq: EXLS) (”EXL” or the “Company”) is a leading provider of outsourcing and transformation services. EXL’s outsourcing services include a full spectrum of business process outsourcing services from offshore delivery centers requiring ongoing process management skills. Transformation services enable continuous improvement of client processes by bringing together EXL’s capabilities in reengineering including decision analytics, risk and financial management and operations and process excellence services. Headquartered in New York, EXL primarily serves the needs of Global 1000 companies in the insurance, utilities, financial services and transportation sectors. Find additional information about EXL at www.exlservice.com.

This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in more details in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release.

You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect the Company. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

About Schneider Logistics, Inc.

Schneider Logistics, Inc. is an international logistics provider to Global 2000 companies. Schneider Logistics helps customers capture strategic business value from their supply chains in the form of lower distribution costs, reduced inventory, improved customer service and increased availability to working capital. The company provides end-to-end supply chain management, warehousing, transloading, transportation management and international logistics services.

Schneider Logistics is a wholly owned subsidiary of Schneider National, a premier provider of truckload, intermodal and logistics services. Headquartered in Green Bay, Wis., Schneider National has provided expert logistics and transportation solutions for nearly 75 years. A US$3.7 billion company, Schneider National conducts business in more than 28 countries in North America, Europe and Asia, and continues to grow its international service offerings. For more information about Schneider Logistics, visit www.schneider.com .

Source: ExlService Holdings, Inc.

Jean Liang, Head of Investor Relations of ExlService Holdings, Inc., +1-212-277-7115, ir at exlservice.com