Manthan Systems Wins Deloitte Fast 50 India Awards for the Fourth Consecutive Year

BANGALORE, India, November 24, 2010 - Bangalore-based Manthan Systems, the leading provider of
Business Intelligence (BI) and Analytics solutions for the global retail
industry, has won for the fourth year in a row the Deloitte Fast 50 India
award. It was ranked 30th, with revenue growth of 143%.

"Being recognised as among the 50 fastest growing companies in
India is no easy task, being recognised for the fourth year in a row however
tells you the whole story. This achievement underlines Manthan Systems
superlative market performance even among the best and dynamic technology
companies," said Atul Jalan, CEO, Manthan Systems. "Incidentally, the name
'Manthan', in Indian mythology, is a metaphor for the eternal quest for
excellence. And we have shown just that with this achievement," he added.

Manthan Systems' expertise spans retail segments like food and
grocery, fashion and lifestyle, convenience stores, and various specialty and
mass merchandising formats. "We help the world's biggest names in retail
enable decision making for business benefit," says Jalan.

Manthan Systems is present in all continents across the world and has
deployed in more than 60 companies located in 14 countries its ARC Retail
Business Intelligence suite which comprises products including Merchandising
Analytics, Finance Analytics, Customer Analytics and Supplier Portal &
Analytics. Manthan is the Chief Analytics Officer for Abenson, Crocs, SM
Group, ECCO, Haggen, GAME Group PLC, Xtra-Vision, Loblaw, among other leading
global retail and CPG organizations.

The Deloitte Technology Fast 50 India Program conducted by
Deloitte India, now in its sixth year, ranks the fastest growing technology
companies in India based on their percentage revenue growth over the last
three financial years. Despite competitive conditions all round for industry
players across India, the 50 companies on our list have managed to achieve an
average revenue growth rate of 296 percent over the last three years.

The Deloitte recognition is the hat-trick for Manthan Systems
in 2010. The Company was ranked as a finalist in the annual Beacon Awards
2010. The flagship product ARC - an integrated retail analytics and business
intelligence solution, was recognized in the category of "Outstanding
Enterprise Application Solution by an ISV".

Manthan also featured in the 2010 RetailWeek Technology
Awards, that is testimony to the continuing success of ARC Retail Business
Intelligence products currently deployed by leading retailers across all
major geographies in the world. Manthan's game-changing implementation of its
ARC Retail Business Intelligence solution for a UK based specialty retailer
was listed in the "International Solution of the Year" category organized by
RetailWeek, a retail industry focused media house, part of the UK-based
premier media group, EMAP.

About Manthan Systems

Manthan Systems produces cutting edge analytic solutions for
global retail and CPG organizations. Manthan's breakthrough solutions, under
the brand name ARC, transform the way retailers use analytics driven decision
making for strategic advantage. The ARC product portfolio spans the entire
spectrum of retail decision making with role-based, pre-built applications,
and includes products for merchandising analytics, financial analytics,
customer analytics, supplier portal & analytics, mall analytics and
enterprise retail BI. These award winning products provide a significant edge
to an organization's analytical capability and maturity, and are proven to
deliver unmatched business benefits in a remarkably short timeframe.
Manthan's experience spans a wide range of retail segments and formats,
having transformed decision making for some of the biggest names in retail
across the globe. For more information, visit www.manthansystems.com .

Media enquiries: media.contact@manthansystems.com | +91-80-2299-0585

Media enquiries: media.contact at manthansystems.com | +91-80-2299-0585