Polaris Acquires IndigoTX, a SaaS Software Company Providing an Enterprise Brokerage Platform Used by Half a Million Customers

CHENNAI, India, March 26, 2010 - Polaris Software Lab Limited (POLS.BO), a leading Financial
Technology Company today announced the acquisition of IndigoTX, a SaaS
(Software as a service) Company that provides GO TX, an enterprise brokerage
solution for the securities market on a pay per use model.

The GO TX brokerage platform is a cutting edge technology
platform that runs on a GRID architecture providing tremendous amount of
scalability and performance using commodity hardware platforms.

The GO TX System allows brokers the luxury of a single
platform that provides trading in multiple instruments such as equities,
derivatives, mutual funds, commodities and currencies, providing access to
multiple markets besides integrating the front, middle and back-office
functions. The GO TX layered architecture also allows it to integrate
internet access, desktops and other user access devices into a single
platform.

A GO TX brokerage customer pays the company on a pay per use
model. Under this model, the company provides access to all its solutions and
technologies by pricing it on a usage basis. GO TX provides continuous
updates of its software to its customers. This helps brokerages to focus on
their business rather than worry and manage technologies that are constantly
changing and evolving. This also relieves the brokerage firms from the
pressure of continuous capital investments.

For large brokerage firms, GO TX value proposition is that it
provides tremendous amount of operational efficiency as a result of its
single integrated platform. The integration allows brokerage firms, complete
control over their large span of business operations in real-time. The CEOs
of brokerage firms can get a comprehensive view of their trading assets and
liabilities in real-time. Brokerage firms will have a better control of their
operations on a volatile day deploying the GO TX platform.

For smaller brokers, the GO TX value proposition is
accessibility to technologies that typically only large players can afford.

Mr. Chandra Balaraman, Founder &CEO said, "Our trading
platform for brokerages is what ERP is to manufacturing. With proven
technologies in place, we needed a partner who can fuel our growth and also
provide access to various global markets. We are excited to join the Polaris
family that has a large reach and reputation as a cutting edge solution
provider to large financial institutions."

Mr. Arun Jain, Founder, Chairman & CEO, Polaris Software,
said, "Technology investments continue to be the major bottleneck for many
brokerage houses that are nurturing big growth ambitions. GO TX leverages
modern technology of Software as a Service (SaaS) to offer trade based
pricing. In effect, brokerage houses can move away from technology related
concerns completely and enjoy the freedom of 'pay as you grow".

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial
Technology company, with its comprehensive portfolio of products, services
and consulting. Polaris has a talent strength of over 9,000 solution
architects, domain and technology experts. The company owns the largest set
of Intellectual Properties in the form of a comprehensive product suite,
Intellect Global Universal Banking (GUB) 10.0. Intellect(TM) is the first pure
play SOA based application suite for Retail, Corporate, Investment banking
and Insurance.

Polaris is headquartered in Chennai and has offices in all
global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India,
Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New
York, Chicago, Fremont, Pittsburgh and Chile. For more information, please
visit www.polaris.co.in/

About IndigoTX Software (GO TX Systems)

GO TX Systems is a software and back-office services company
with a financial services focus. Its platform GO TX, designed and developed
to be deployed by banks, brokers and other financial intermediaries, will
facilitate investment and trading in many instruments, in multiple markets
and currencies. GO TX platform, a complete front, middle and back-office
solution, currently supports investment and trading in Equities, Equity
derivatives, IPOs, Mutual Funds and Commodities. For more information, please
visit www.indigotx.com

    For more information, please contact:

    Shailesh Dhawla
    Polaris Software Lab
    Tel: +91-9711811460
    Email: shailesh.d@polaris.co.in

For more information, please contact: Shailesh Dhawla, Polaris Software Lab, Tel: +91-9711811460, Email: shailesh.d at polaris.co.in .