EXL Signs Multi-Year FAO Contract With Petrogas

NEW YORK, LONDON and NEW DELHI, July 27, 2010 - ExlService Holdings, Inc. ("EXL") (Nasdaq: EXLS), a leading provider of
outsourcing and transformation services, today announced the signing of a
multi-year contract with Petrogas, the largest independent operator of the
Applegreen chain of service stations in Ireland.

Under this agreement, EXL will provide finance and accounting services to
Petrogas and manage the entire finance and accounting operations from its
service delivery centre in a special economic zone in Noida, India. Petrogas
will gain the flexibility and scalability to continue its expansion in
Ireland and the UK with a more focused approach and greater force.

EXL's President and CEO Rohit Kapoor stated, "We are extremely pleased to
be able to work with Petrogas as they take an aggressive stance to grow and
expand their business in Ireland and the UK. EXL continues to strengthen its
capability in finance and accounting and looks forward to working with
Petrogas to achieve their objectives of strategic cost management and driving
operational flexibility while improving service levels. We will leverage our
transformation capabilities in the areas of analytics and process improvement
to provide Petrogas a competitive advantage as they grow their business."

Petrogas' CEO and Director Bob Etchingham stated, "This is an important
strategic initiative for Petrogas as the group consolidates its financial
standing and profitability in a very challenging economic and banking
environment in Ireland. With EXL providing our Finance and Accounting
services, we are better able to focus on streamlining the back office
processes supporting the expanding network of the group and licensee sites.
This is particularly important as we prepare to open Ireland's first Motorway
Service Areas with six sites coming on stream in September 2010. Longer term,
we anticipate taking advantage of re-engineering and decision analytics
capabilities offered by EXL to enhance our business proposition."

EXL's finance and accounting services are designed to address
multi-pronged business imperatives of the modern-day chief financial officer.
The services help enhance the efficiency, effectiveness and controls within
finance functions by leveraging high quality finance and accounting
capabilities, strong domain focus, and flexible global delivery model.

About ExlService Holdings, Inc.

ExlService Holdings, Inc. (Nasdaq: EXLS) 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 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, banking and financial services, transportation and logistics, and
travel sectors. Find additional information about EXL at
www.exlservice.com.

About Petrogas Group Ltd.

Petrogas Group Ltd. Operator of the Applegreen chain of service stations
is the largest independent forecourt operator in Ireland. Petrogas was
founded in 1992 and is owned by Bob Etchingham and Joe Barrett. Combining
experience of both the Retail and Fuel businesses, the Petrogas model is
built on delivering "low fuel prices, always" in combination with the
convenience priced shop and local parking. They developed an opportunity in
the market for high quality, made to order "food on the go" with top quality
coffee and made to order sandwiches. The group developed through continued
acquisition of underperforming standalone service stations which have been
rebranded as Applegreen with the consistent price promise driving customers
through the forecourt and shop. Expansion into the UK was a natural follow on
in 2008 along with the development of their own dedicated dry goods warehouse
and multi-temperature distribution fleet in 2009. Find additional information
about Petrogas at www.petrogas.ie or www.applegreen.ie.

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 detail 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, 2009. 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.

Shailendra Singh of EXL Service, +91-120-244-5900; or +91-9810476075, shailendra.singh at exlservice.com; or Jessy Adams of FD, +1-212-850-5684, or +1-917-689-9295, jessy.adams at fd.com, for ExlService Holdings, Inc.