Wipro Rated as a Leader In META Group's Offshore Sourcing METAspectrum Evaluation; Recognized for Service Breadth, Vertical Depth and Brand Recognition

Business Wire, Oct 7, 2004

BANGALORE, India -- Wipro Technologies, the global IT services division of Wipro Limited (NYSE:WIT), today announced that it has been ranked as a market leader in the META Group's METAspectrum(SM) report for offshore Outsourcing. META Group is a leading provider of information technology (IT) research, advisory services, and strategic consulting.

Wipro Technologies has been positioned in the "Leader" segment of the METAspectrum analysis, and was specifically recognized for its breadth and depth of services, strength in significant quality practices, its awareness and reputation in the market and high execution capabilities.

"We consider the recognition by META Group, as a validation of our market leadership and the unique differentiation we provide to our customers in terms of integrated service lines, domain solutions and predictability in execution on a global delivery platform," said Vivek Paul, CEO-Wipro Technologies. He also added, "Wipro's investments in people and innovative processes have elevated us as the partner of choice and we are extremely proud to see the same being reiterated through this ranking."

The METAspectrum evaluation provides an objective assessment of companies providing IT Services. "We developed METAspectrum to enable IT professionals to quickly evaluate vendors based on their ability to deliver on the presence and performance criteria that matter most in a given market," said Dean Davison, vice president and director, META Group.

About METAspectrum

METAspectrum(SM) evaluations from META Group (Nasdaq: METG) provide IT professionals with a view into critical market success factors and vendor positioning. METAspectrum delivers comprehensive evaluations of both technology markets and vendor product offerings. There are multiple market evaluations planned for release in 2003 and beyond. METAspectrum evaluations are updated quarterly, biannually, or annually, depending on the characteristics of individual markets. To view completed market evaluations, or learn more about the METAspectrum methodology, visit www.metagroup.com/metaspectrum.> METAspectrum(SM) market evaluations and results are the sole property of META Group, Inc. and are Copyright (C) 2002 META Group, Inc. All rights reserved. Permission to use the results requires prior written approval from META Group, and should not be deemed an endorsement of any company or product.

About Wipro Limited

Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai and the National Stock Exchange, among others. More information is available at www.wipro.com.

For any queries, contact:
    Supratim Sarkar, Manager, Strategic Marketing
    Ph:  91-80-28440368; email: supratim.sarkar@wipro.com

Forward-looking and cautionary statements

Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, , liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. For further information, please visit our websites at www.wipro.com, www.wiprocorporate.com and www.wipro.co.in.