Infosys Technologies (NASDAQ: INFY) Announces Results for the Quarter and Year Ended March 31, 2011

Q4 Revenues Grew by 1.1% Sequentially; FY11 Revenues Grew by 25.8%

BANGALORE, India, April 15, 2011 - Highlights

Consolidated results under IFRS for the quarter ended March 31, 2011

- Revenues were $1,602 million for the quarter ended March 31,
2011; QoQ growth was 1.1%; YoY growth was 23.6%

- Net income after tax was $402 million for the quarter ended
March 31, 2011; QoQ growth was 1.3%; YoY growth was 18.9%*

- Earnings per American Depositary Share (EPADS) was 0.70 for
the quarter ended March 31, 2011; QoQ growth was 1.4%; YoY growth was 18.6%*

- 34 clients were added during the quarter by Infosys and its
subsidiaries

- Gross addition of 8,930 employees (net addition of 3,041)
for the quarter by Infosys and its subsidiaries

- 130,820 employees as on March 31, 2011 for Infosys and its
subsidiaries

- Final dividend of 20 INR per ADS (equivalent to approximately
$0.45 per ADS at the prevailing exchange rate of 44.50 INR per US$). The
dividends are payable on the ADSs outstanding as on record date, at the
prevailing exchange rate on the payment date and are subject to approval by
the shareholders.

* Excluding the income from the sale of our investment in
OnMobile Systems, Inc. of USD 11mn in fiscal 2010

"We expect the demand environment to be normal this year for
the industry," said S. Gopalakrishnan, CEO and Managing Director. "We have
created a structure with strong customer driven vertical focus and have
enhanced our investment to take advantage of the opportunities we see in the
market."

Business outlook

The company's outlook (consolidated) for the quarter ending
June 30, 2011 and for the fiscal year ending March 31, 2012, under
International Financial Reporting Standards (IFRS), is as follows:

Outlook under IFRS - consolidated **

Quarter ending June 30, 2011

- Revenues are expected to be in the range of $1,643 million
and $1,659 million; YoY growth of 21.0% to 22.2%

- Earnings per American Depositary Share (EPADS) is expected
to be in the range of $0.62 and $0.63; YoY growth of 8.8% to 10.5%

Fiscal year ending March 31, 2012

- Revenues are expected to be in the range of $7.13 billion
and $7.25 billion; YoY growth of 18.0% to 20.0%

- Earnings per American Depositary Share (EPADS) is expected to be in the
range of $2.83 to $2.88; YoY growth of 8.0% to 10.0%

** Exchange rates considered for major global currencies: AUD / USD -
1.03; GBP / USD - 1.61; Euro / USD - 1.42

Expansion of services and significant projects

Infosys is focused on delivering measurable business value to
clients - whether it be initiating transformational process changes or
driving best-in-class efficiencies. Our innovative new products and services
have been successfully adopted and implemented by our clients.

Transformation

Infosys has developed a world-class business consulting model
to partner technology-led transformation in building tomorrow's enterprise.

We continue to win transformation deals in retail. We
partnered with a large US-based retailer on its mobile strategy and
application development to complement its e-commerce offerings. . We
performed a security audit assessment and remediation of Sarbanes-Oxley based
conflicts for a global food service retailer in its Oracle financial
applications.

We built a case management system for a money transfer
provider for its compliance and audit needs, helping the client better manage
anti-money laundering, call center and fraud related cases. A leading asset
manager chose us as its strategic delivery partner for a core investment
systems reengineering that will lead to significantly higher flexibility in
operations, access to richer information for decision making and lower
operating costs. We helped a financial services company establish a single
source record for customer relationship, integrating merchant customer
information into its existing technology infrastructure.

For a transportation company we are delivering an end-to-end
solution for global equipment management, helping the client save costs
around leased equipment, demurrage and Maintenance Repair and Overhaul (MRO).
A leading manufacturer of helicopters has partnered with us to transform
business intelligence capabilities at the enterprise level to provide
actionable information to make better decisions. We helped a large oilfield
services company implement prebuilt inventory analysis covering
manufacturing, finance and sales, thus reducing overall costs.

Operations

Our efficient operational services free up clients' resources
that can then be deployed to drive transformation and innovation initiatives.

A European aerospace manufacturer engaged us to deploy a
Product Lifecycle Management (PLM) solution to be integrated with its
enterprise systems and global supplier base for seamless collaboration as
well as to deliver cost savings and productivity improvements. A major
aerospace and defense corporation expanded its engagement with us to include
a Human Resource Management (HRM) system upgrade on PeopleSoft.

One of the world's largest independent automotive suppliers
engaged us for a SAP template rollout at its India plants. A leading global
automotive manufacturer partnered with us to provide PLM and engineering
support services across various locations and thus reduce costs. A leading
Asian automobile manufacturer signed us on to implement SalesForce.com for
commercial credit functions. A leading industrial player in transport-related
engineering has selected us to provide services for the support and
maintenance of its business intelligence platform.

For a grocery chain in the US we undertook implementation of
e-performance, talent acquisition and management, profile management and
variable compensation modules of PeopleSoft Human Capital Management (HCM). A
retail brand in the US engaged us to provide standardized reporting mechanism
for its international business team. A large US-based retailer engaged us to
better manage inventory and equipment by improving maintenance and uptime of
its distribution management system.

We helped a global leader in environmental and industrial
measurement to harmonize processes for finance, HR and supply chain
management. A drilling and production operation provider selected us for
product development, customization and testing of intelligent drilling
software.

We continue to see strong demand for our cloud services from
our clients. A leading financial services firm chose us as its exclusive
partner to help define and implement a cloud-based strategy in order to lower
total cost of operations and enable faster time to provision infrastructure
assets. Infosys was also selected by a leading communication services
provider to setup a private cloud to help better manage their network
infrastructure.

Innovation

We continue being a co-creation partner of choice for our
clients to capitalize on opportunities arising out of emerging business
trends.

We helped a leading credit information services company in
developing applications through which customers can register and order
products from their mobiles. A large US-based retailer partnered with us to
develop an in-store location awareness system that delivers targeted mobile
coupons and alerts consumers, so as to increase sales.

We are helping a US-based consumer electronics leader
mobile-enable its flagship web portal for multiple Android and iOS based
mobile devices. A leading internet services company has engaged us to design,
develop and deploy a solution that aggregates multiple content feeds and
provides users with personalized news, lifestyle and entertainment and other
information. A large manufacturer of navigation devices has selected us to
develop the user interface for its next generation in-dashboard multimedia
and navigation product.

A leading semiconductor chip maker selected Infosys for a
strategic hardware engineering services engagement, covering verification,
design automation and graphic design.

Liquidity

As on March 31, 2011, cash and cash equivalents, including investments in
available-for-sale financial assets and certificates of deposits was $ 3.8 Bn
($3.5 Bn as on March 31, 2010).

"We are seeing growth opportunities emerging in the market place," said
V. Balakrishnan, Chief Financial Officer. "Our focus on high quality growth
enables us to make the right investments to capture those opportunities."

Board of Directors

The Board of Directors today appointed Mr. Ravi Venkatesan as
an Additional Director of the company, with immediate effect. He will hold
office up to the date of the Annual General Meeting, when his appointment as
a director will be placed for the approval of the shareholders.

Mr. Ravi Venkatesan was the Chairman of Microsoft India; under
his leadership from 2004-2011, India became Microsoft's second largest and
one of its fastest growing geographies. Prior to joining Microsoft,
Venkatesan worked for over seventeen years with Cummins Inc, overseeing its
transformation into the leading provider of power solutions and the largest
manufacturer of automotive engines in the country.

Welcoming Ravi Venkatesan to the Board, N.R. Narayana Murthy,
Chairman & Chief Mentor, said,

"Ravi Venkatesan is one of the best known leaders of corporate India. He
brings enormous value with his vast experience in the software industry."

Retirement of Mr. K. Dinesh

Mr. K. Dinesh, Member of the Board and Co-Founder of the Company, will
retire by rotation at the Annual General Meeting of the Company to be held
on June 11, 2011. Mr. K. Dinesh has expressed his intention not to seek
re-appointment.

The Members of the Board placed on record their deep sense of
appreciation for the services rendered by Mr. K. Dinesh during his tenure as
the Member of the Board and Head of Quality, Information Systems and the
Communication Design Group.

Mr. N R Narayana Murthy, Chairman and Chief Mentor said, "Mr. K. Dinesh
has been one of the co-founders of the company. The company has turned to
him whenever there were any complex projects to be undertaken. He has
handled each of his responsibilities with extraordinary diligence, quality
and professionalism. We wish him best of luck in his future endeavors."

Resignation of Mr. T. V. Mohandas Pai

Mr. T. V. Mohandas Pai, has decided to relinquish the position of Member
of the Board and has requested the Board to relieve him of the
responsibilities after the company's annual general meeting on June 11, 2011.

The Board of Directors considered and accepted the resignation of Mr.
T. V. Mohandas Pai. The resignation is effective June 11, 2011, post the
company's annual general meeting.

The Members of the Board placed on record their deep sense of
appreciation for the services rendered by Mr. T. V. Mohandas Pai during his
tenure as the Member of the Board, Chief Financial Officer of the Company and
then as the Director in-charge of the Human Resources Department.

Mr. N R Narayana Murthy, Chairman and Chief Mentor, said, "Mohan has been
an early adopter and a keen anchor builder of Infosys. It is difficult to
imagine Infosys without Mohan's passion, commitment, joie-de-vivre and
intellect. We all know that he is taking this painful decision, since he has
much bigger projects in the horizon - nation building. The Board and every
Infoscion thank Mr. Mohandas Pai for his wonderful contribution and wish him
great success in his future endeavors."

Board Meeting

The Board of Directors will meet on April 30, 2011 to finalize plans for
the company's leadership succession, post Mr. N. R. Narayana Murthy's
retirement as Chairman of the Board in August 2011.

About Infosys Technologies Ltd

Many of the world's most successful organizations rely on the 130,820
people of Infosys to deliver measurable business value. Infosys provides
business consulting, technology, engineering and outsourcing services to help
clients in over 30 countries build tomorrow's enterprise.

For more information about Infosys (NASDAQ: INFY), visit
www.infosys.com

Safe Harbor

Certain statements in this 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, fluctuations in foreign exchange rates,
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, industry segment concentration, our ability to
manage our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks or system failures,
our ability to successfully complete and integrate potential acquisitions,
liability for damages on our service contracts, the success of the companies
in which Infosys has made strategic investments, withdrawal or expiration of
governmental fiscal incentives, political instability and regional conflicts,
legal restrictions on raising capital or acquiring companies outside India,
and unauthorized use of our intellectual property and general economic
conditions affecting our industry. Additional risks that could affect our
future operating results are more fully described in our United States
Securities and Exchange Commission filings including our Annual Report on
Form 20-F for the fiscal year ended March 31, 2010 and on Form 6-K for the
quarters ended June 30, 2010, September 30, 2010 and December 31, 2010.These
filings are available at www.sec.gov. Infosys may, from time to time,
make additional written and oral forward-looking statements, including
statements contained in the company's filings with the Securities and
Exchange Commission and our reports to shareholders. The company does not
undertake to update any forward-looking statements that may be made from time
to time by or on behalf of the company.

Unaudited Condensed Consolidated Interim Financial Statements prepared in
compliance with IAS 34, Interim Financial Reporting

    Infosys Technologies Limited and subsidiaries
    Unaudited Condensed Consolidated Balance Sheets as of March 31, 2011
    (Dollars in millions except share data)

                                                               2011    2010
    ASSETS
    Current assets
    Cash and cash equivalents                                $3,737  $2,698
    Available-for-sale financial assets                           5     561
    Investment in certificates of deposit                        27     265
    Trade receivables                                         1,043     778
    Unbilled revenue                                            279     187
    Derivative financial instruments                             15      21
    Prepayments and other current assets                        206     143
    Total current assets                                      5,312   4,653
    Non-current assets
    Property, plant and equipment                             1,086     989
    Goodwill                                                    185     183
    Intangible assets                                            11      12
    Available-for-sale financial assets                           5       8
    Deferred income tax assets                                   85      78
    Income tax assets                                           223     148
    Other non-current assets                                    103      77
    Total non-current assets                                  1,698   1,495
    Total assets                                             $7,010  $6,148
    LIABILITIES AND EQUITY
    Current liabilities
    Trade payables                                              $10      $2
    Current income tax liabilities                              183     161
    Client deposits                                               5       2
    Unearned revenue                                            116     118
    Employee benefit obligations                                 31      29
    Provisions                                                   20      18
    Other current liabilities                                   451     380
    Total current liabilities                                   816     710
    Non-current liabilities
    Deferred income tax liabilities                               -      26
    Employee benefit obligations                                 58      38
    Other non-current liabilities                                14      13
    Total liabilities                                           888     787
    Equity
    Share capital - 5 INR ($0.16) par value
    600,000,000 equity shares authorized,
    issued and outstanding 571,317,959 and
    570,991,592, net of 2,833,600 treasury
    shares each as of March 31, 2011 and
    March 31, 2010, respectively                                 64      64
    Share premium                                               702     694
    Retained earnings                                         5,294   4,611
    Other components of equity                                   62      (8)

    Total equity attributable to
    equity holders of the company                             6,122   5,361

    Total liabilities and equity                             $7,010  $6,148

    Infosys Technologies Limited and subsidiaries
    Unaudited Consolidated Statements of Comprehensive Income
    (Dollars in millions except share data)

                                                            2011        2010

    Revenues                                              $6,041      $4,804
    Cost of sales                                          3,497       2,749
    Gross profit                                           2,544       2,055
    Operating expenses:
    Selling and marketing expenses                           332         251
    Administrative expenses                                  433         344
    Total operating expenses                                 765         595
    Operating profit                                       1,779       1,460
    Other income                                             267         209
    Profit before income taxes                             2,046       1,669
    Income tax expense                                       547         356
    Net profit                                            $1,499      $1,313
    Other comprehensive income
    Reversal of impairment loss on available-for-sale
    financial asset                                            -          $2
    Gain transferred to net profit on sale of
    available-for-sale financial asset                         -          (1)
    Unrealized holding gains on available-for-sale
    financial asset, net of tax effect                        (2)          6
    Exchange differences on translating foreign
    operations                                                72         555
    Total other comprehensive income                         $70        $562
    Total comprehensive income                            $1,569      $1,875
    Profit attributable to:
    Owners of the company                                 $1,499      $1,313
    Non-controlling interest                                   -           -
                                                          $1,499      $1,313
    Total comprehensive income attributable to:
    Owners of the company                                 $1,569      $1,875
    Non-controlling interest                                   -           -
                                                          $1,569      $1,875
    Earnings per equity share
    Basic ($)                                               2.62        2.30
    Diluted ($)                                             2.62        2.30
    Weighted average equity shares used in computing
    earnings per equity share
    Basic                                            571,180,050 570,475,923
    Diluted                                          571,368,358 571,116,031

Earnings: www.prnewswire.co.uk/xferdl?file=2/STDomZy9FMPFd9H8w/kQ

Fact Sheet:
www.prnewswire.co.uk/xferdl?file=u99an4GTpdkzXfRADdNy5g

    Contact

    Investor       Avishek Lath, India          Sandeep Mahindroo, USA
    Relations      +91(80)4116-7744             +1-646-254-3133
                   Avishek_lath@infosys.com     sandeep_mahindroo@infosys.com

    Media          Sarah Vanita Gideon, India   Peter McLaughlin, USA
    Relations      +91(80)4156-4998             +1-213-268-9363
                   Sarah_Gideon@infosys.com     Peter_McLaughlin@infosys.com

Investor Relations: Avishek Lath, India, +91(80)4116-7744, Avishek_lath at infosys.com ; Sandeep Mahindroo, USA, +1-646-254-3133, sandeep_mahindroo at infosys.com ; Media Relations: Sarah Vanita Gideon, India, +91(80)4156-4998, Sarah_Gideon at infosys.com ; Peter McLaughlin, USA, +1-213-268-9363, Peter_McLaughlin at infosys.com