MindTree Receives NASSCOM Innovation Award 2007

Business Wire, Feb 13, 2008

The recognition comes close on the heels of MindTree being declared the overall winner of the MAKE India award

WARREN, N.J. -- MindTree Consulting, a global IT and R&D services company, announced today that it has been awarded the NASSCOM Innovation Award 2007. The NASSCOM Innovation Award recognizes organizations that come up with new ideas, products, processes or technologies that create business impact.

A panel of senior Indian business executives and thought leaders found MindTree to be innovative in the area of knowledge management (KM). "This honor recognizes the unique knowledge ecosystem we have built in MindTree. The ecosystem allows us to accelerate the process of innovation within the organization for maximum impact," said MindTree Consulting Chairman & Managing Director Ashok Soota.

MindTree's KM Function has created the infrastructure to harness the collective ideas and knowledge of its people towards innovation, better service delivery and organizational learning. The key thrust areas of KM in MindTree are innovation, collaboration and reuse.

"Building a knowledge ecosystem is the most practical way to approach the intangible nature of knowledge management," said MindTree Consulting Vice President and Head of Knowledge Management, Raj Datta. "This is precisely why knowledge management is thriving in MindTree as an emergent phenomenon."

MindTree's knowledge ecosystem strengthens four "spaces" within which a MindTree Mind consumes and produces knowledge: the physical space, the virtual space, the social space, and the mind space. In realizing this vision, MindTree has created both technical and social platforms, physical infrastructure, and programs focusing on developing fertile creative Minds. The socio-technical platforms include Neuron, the idea nurturing platform and systematic innovation process; Osmosis, MindTree's annual techfest, unconference, and knowledge fair; OpenMind, which enables collaborative IP creation and reuse; Knowledge Communities and ConnectedMinds portal for social networks; ProjectSpace, the platform that helps in collaborative project execution.

This award comes on the heels of MindTree being declared the overall winner and Most Admired Knowledge Enterprise in the Indian MAKE study conducted by Teleos and the Know Network in 2007.

About MindTree Consulting

MindTree Consulting is a global IT and R&D Services Company co-headquartered in the U.S. and India. With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship. Our domain experts deliver business-enabling solutions by leveraging a consulting led, framework-based and IP-driven approach. MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments. Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services.

MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated as the most admired employer by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree is publicly listed in India. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. Please visit us at www.mindtree.com.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.