Sify CEO Comments on Growth Prospects for Indian Companies on CNBC's ''Street Signs''

Business Wire, Oct 20, 2004

CHENNAI, India -- Following several events commemorating Sify Limited's (Nasdaq:SIFY) fifth anniversary of listing on the Nasdaq Stock Market, Mr. R. Ramaraj, CEO, was interviewed by Dylan Ratigan on CNBC's "Street Signs" on Tuesday, October 19. On the program, Mr. Ramaraj was asked to comment on growth prospects of the Indian economy, the advantages that Indian companies, such as Sify, offer to the U.S. market and the outlook for other Indian companies listing in the U.S.

Mr. R. Ramaraj, CEO, Sify Limited, said, "The Indian economy grew 8% in 2003 and has grown 6% over the last 5-6 years. Given the Indian government's recent policies to encourage FDI and economic growth, I expect this trend to continue for the next few years. Indian companies offer high quality services and expertise at minimal costs, so I believe U.S. companies will continue to look to India to enhance their competitive advantage. Industries currently experiencing heightened growth in India include the pharmaceutical and manufacturing sectors. I would expect companies in these industries to begin looking outside of the country to increase capital opportunities.

"The strong growth of the Indian economy will increase the need for connectivity for both corporations and consumers. We are recognized as a leader in this area because of the first-rate corporate, international and consumer services we provide, as well as our Internet portal services," concluded Mr. Ramaraj.

About Sify

Sify is among the largest Internet, network and e-Commerce services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common Internet backbone infrastructure. This Internet backbone reaches 67 cities 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 and hosting. A host of blue chip customers use Sify's corporate service offerings. Consumer services include broadband home access, dial up connectivity and the iWay cyber cafe chain across 72 cities. The Company's network services, data center operations, customer relationship management and eLearning services are accredited ISO 9001:2000.

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

Forward-looking statements

This press release may contain 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 "Risks Related to Our Business" in the Company's report on Form 20-F for the year ended March 31, 2004 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.