Polaris Software and Intellect Global Universal Banking (GUB) Reassessed at CMMi LEVEL 5

CHENNAI, India, January 4 - Polaris Software Lab Limited, a leading Financial Technology
Company, announced the achievement of SEI CMMI Version 1.2 Level 5
Certification, the highest level of quality and process maturity appraisal in
the industry for Software Services, Intellect Global Universal Banking
product spanning all micro verticals within BFSI across all business solution
centers.

The appraisal was conducted by Software Technology Transition
(STT) led by the High Maturity Lead Appraiser Ronald A. Radice. The company
was awarded LEVEL 5 (OPTIMIZING) with CMMI Version 1.2 using SCAMPI(SM) A
Version 1.2 in its recent appraisal. The appraisal coverage was enterprise
wide and included 100% domains within Banking, Financial Services and
Insurance (BFSI) covering Products, Services and Delivery centers. The
details of Polaris Software appraisal are published at the Software
Engineering Institute (SEI); link:
sas.sei.cmu.edu/pars/pars_detail.aspx?a=13195

Lead Appraiser, Ron Radice, STT, said, "Polaris has a proven
record in adoption and adaption of best practices available through models
such as CMMI. They have used this model and other tools to achieve continuous
improvement in meeting their business objectives to the delight of their
customers and stock holders. They use real time data from each project
experience to understand their strengths and where there may be opportunity
for further improvement. They are willing to break down barriers that many
companies too easily accept as limitations to growth. They listen to their
customers to learn where there may be new opportunities. Polaris does all
this while maintaining a clear and well defined employee relationship. It
would be a pleasure to work in a company like Polaris."

Commenting on the achievement, Govind Singhal, COO, Polaris
Software Lab said, "We are excited that the reassessment at CMMi Level 5 is
enterprise wide and applies to our integrated products and services business
model in Financial Technology. We are seeing the benefits of our extreme
execution capabilities with customers rating us over 85% on the satisfaction.
Evidently we have amongst the best collection efficiencies in the industry, a
testimony to our high delivery efficiency."

About the Carnegie Mellon Software Engineering Institute

The Software Engineering Institute (SEI) is a research and
development center operated by Carnegie Mellon University. The SEI helps
organizations make measured improvements in their software engineering
capabilities by providing technical leadership to advance the practice of
software engineering. For more information, visit www.sei.cmu.edu.

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 10,000 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/

    For more information, please contact:

    Shailesh Dhawla
    Polaris Software Lab
    Tel: +91-99620-23124
    Email: shailesh.d@polaris.co.in

For more information, please contact: Shailesh Dhawla, Polaris Software Lab, Tel: +91-99620-23124, Email: shailesh.d at polaris.co.in