Sify Reports Delay in Filing 2010 Annual Report Caused By Incomplete Audit Results from Minority-Owned Venture

CHENNAI, India, October 16, 2010 - Sify Technologies Limited (Nasdaq Global Markets: SIFY) today announced
that it will be unable to file audited financial statements for its fiscal
year ended March 31, 2010 at this time due to incomplete audit results from
MF Global Sify Securities India Private Limited ("MF Global Sify
Securities"). Sify has a 29.85% minority interest in MF Global Sify
Securities. MF Global Sify Securities provides intermediary and matched
principal brokering services. It also offers online and offline equity and
derivatives trading for retail customers, as well as execution and clearing
services for financial institutions. MF Global Holdings Ltd., through a
subsidiary, holds the remaining 70.15% interest in the company.

Sify has disputed certain recorded cross charges of corporate expenses
made by MF Global Holdings Ltd. and affiliated entities, to MF Global Sify
Securities and believes the charges, and various related actions, violate a
shareholders' agreement among the parties. As a result of the ongoing
dispute, MF Global Sify Securities has advised Sify that its auditors are
unable to issue an unqualified report on its March 31, 2010 financial
statements.

Sify's interest in MF Global Sify Securities is accounted for using the
International Financial Reporting Standards equity method of accounting under
which Sify generally is obligated to report as "share of profit of equity
accounted investee" a pro rata portion of the net income after tax of any
such company in its statement of operations. Sify's auditors do not audit the
consolidated financial statements of MF Global Sify Securities and its
opinion, insofar as it relates to the amounts included in Sify's financial
statements for MF Global Sify Securities, is based solely on the report of MF
Global Sify Securities' auditors. As a result, Sify's auditors cannot issue
an unqualified report at this time.

Sify is in discussions with MF Global Holdings Ltd seeking to resolve
this matter and intends to file its Annual Report on Form 20-F for the fiscal
year ended March 31, 2010, as soon as practicable. Sify reported its
unaudited financial results for the fiscal year ended March 31, 2010 in a
press release dated April 23, 2010.

About Sify Technologies

Sify is among the largest Managed Enterprise and Consumer Internet
Services companies in India, offering end-to-end solutions with a
comprehensive range of products delivered over a common telecom data network
infrastructure reaching more than 600 cities and towns in India.

A significant part of the company's revenue is derived from Corporate
Services, which include corporate connectivity, network and communications
solutions, security, network management services, enterprise applications and
hosting. Sify is a recognized ISO 9001:2008 certified service provider for
network operations, data center operations and customer support, and for
provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated
security solutions, and ISO / IEC 20000 - 1:2005 certified for Internet Data
Center operations. Sify has licenses to operate NLD (National Long Distance)
and ILD (International Long Distance) services and offers VoIP back haul to
long distance subscriber telephony services. The company is India's first
enterprise managed services provider to launch a Security Operations Center
(SOC) to deliver managed security services. A host of blue chip customers use
Sify's corporate service offerings.

Sify also caters to global markets in the specialized domains of
eLearning Services and Remote Infrastructure Management Services. The
eLearning Services designs, develops and delivers state-of-the-art digital
learning solutions for non-profit, for-profit organizations and governmental
organizations in the fields of Information technology, engineering,
environment, healthcare, education and finance. The Remote Infrastructure
Management Services provides dependable and economical solutions around
managed services, hosting and monitoring.

Consumer services include broadband home access and the ePort cyber cafe
chain across more than 200 cities and towns in India. Sify.com, the popular
consumer portal, has channels on news, entertainment, finance, sports, games
and shopping. Samachar.com is the popular portal aimed at non-resident
Indians around the globe. The site's content is available in 8 Indian
languages, which include Hindi, Malayalam, Telugu, Kannada and Tamil, Punjabi
and Gujarati in addition to English.

For more information about Sify, visit www.sifycorp.com.

Forward Looking Statements

Sify: This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The forward-looking
statements contained herein are subject to risks and uncertainties that could
cause actual results to differ materially from those reflected in the
forward-looking statements. Sify undertakes no duty to update any
forward-looking statements.

For a discussion of the risks associated with Sify's business, please see
the discussion under the caption "Risk Factors" in the company's report on
Form 6-K for the quarter ended September 30, 2009, which has been filed with
the United States Securities and Exchange Commission and is available by
accessing the database maintained by the SEC at www.sec.gov.

    For further information, please contact:

     Sify Technologies Limited                 Grayling Investor Relations
     Mr. Pijush Das                            Ms. Truc Nguyen; ext. 418
     Investor Relations; ext. 2703             truc.nguyen@grayling.com
     pijush.das@sifycorp.com
     Mr. Praveen Krishna                       Mr. Christopher Chu; ext. 426
     Corporate Communications; ext. 2055       christopher.chu@grayling.com
     praveen.krishna@sifycorp.com              +1-646-284-9400
     +91 44 22540770 / 22540777

Sify Technologies Limited: Mr. Pijush Das, Investor Relations, +91-44-22540770 ext. 2703, pijush.das at sifycorp.com, or Mr. Praveen Krishna, Corporate Communications, +91-44-22540777 ext. 2055, praveen.krishna at sifycorp.com; Grayling Investor Relations: Ms. Truc Nguyen, +1-646-284-9400 ext. 418, truc.nguyen at grayling.com, or Mr. Christopher Chu, +1-646-284-9400 ext. 426, christopher.chu at grayling.com