Cognizant to increase headcount by 4,000 in 2004

Cognizant Technology Sol-utions Corporation has announced building plans for
three additional fully owned Techno complexes with over 600,000 square feet of
space for 6,500 employees in Pune, Che-nnai and Bangalore.

Work on these facilities is expected to begin in early 2004. According to the
company release, the workforce in India has surpa-ssed 9,000 and it expects to
add 4,000 more during the next year.

The press release further stated that Cognizant expects to spend
approximately $ 40 million over the next two years on its new construction prog-ram.
The company has claimed that once fully occupied, these additional facilities
are expe-cted to generate annual ope-rating expense savings of approximately $10
million, compared to expanded use of leased facilities.

"Cognizant has grown faster than the competition this year and demand,
including the pipeline, continues to be at an historically high level,"
said Lakshmi Narayanan, President and CEO, Cognizant.

"Clients are ramping up their large scale offshore programs, including
appli-cation development and main-tenance projects. An increas-ing number of
large organizat-ions are choosing Cognizant because of our industry lead-ing
fourth generation onsite/offshore model, which is focused on delivering not just
technology but measurable business results. Our antici-pated high growth rate in
revenue and headcount provi-des an opportunity for us to build and own
additional facilities," added Narayanan.

"Last month we completed the first phase of facility construction which
was launched in 2001," said Gordon Coburn, CFO, Cognizant.

"That initial program pro-vided space for close to 6,000 employees. It
was completed on-time and on-budget and has resulted in a meaningful reduction
in our real estate costs. Due to our anticipated strong growth, these initial
facilities will reach capacity sooner than originally planned, creating the
opportunity to expand our campuses in Pune and Chennai and to establish a campus
in Bangalore," he added.

CyberMedia News Service

Bangalore