Virtusa Announces Partial Lock-Up Release of 2.75% of its Outstanding Shares

Business Wire, Dec 3, 2007

WESTBOROUGH, Mass. -- Virtusa Corporation (NASDAQ: VRTU), a global information technology (IT) services company that provides IT consulting, technology implementation and application outsourcing services through an enhanced global delivery model, announced today that JP Morgan Securities Inc., the lead underwriter for the Company's initial public offering in August 2007, has released a total of up to 628,000 shares of the Company's common stock from lock-up restrictions, effective December 3, 2007. This early partial release is applicable to certain of the Company's founders and venture capital investors and will permit these stockholders to sell, transfer or otherwise dispose of a specified number of their shares subject to applicable securities laws, including volume limitations under Rule 144 of the Securities Act of 1933. All remaining shares will remain subject to the underwriters lock-up restrictions, and will be released upon expiration of the 180-day lock-up period in accordance with the terms of the applicable lock-up agreements. The terms of the lock-up agreements are described in Virtusa's registration statement on Form S-1 (File No. 333-141952) for its initial public offering.

As of November 7, 2007, approximately 22.8 million shares of Virtusa common stock were issued and outstanding, including approximately 17.8 million shares that will remain subject to lock-up restrictions. Virtusa's shares commenced trading on the NASDAQ Global Market on August 3, 2007.

About Virtusa Corporation

Virtusa is a global information technology (IT) services company providing IT consulting, technology implementation and application outsourcing services. Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides cost-effective services that enable its clients to use IT to enhance business performance, accelerate time-to-market, increase productivity and improve customer service.

Founded in 1996 and headquartered in Massachusetts, Virtusa has offices in the United States and the United Kingdom, and global delivery centers in India and Sri Lanka.

"Virtusa" is a registered trademark of Virtusa Corporation.

Forward-Looking Statements

Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, Virtusa's expectations concerning the timing of the release of shares from the underwriter's lock-up agreements. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Virtusa undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by Virtusa, see the disclosure contained in our public filings with the Securities and Exchange Commission including our Quarterly Report on Form 10-Q for the first fiscal quarter ended June 30, 2007 filed with the Securities and Exchange Commission on September 7, 2007.