Infosys completes bonus issue of shares

Infosys Technologies Ltd has an-nounced that it has completed all statutory
formalities relating to the issue of bonus shares and the same have been
credited to the shareholders' account on July 6, 2004. About 99.5 percent of
the company's shares are held in demat form. The intima-tion to the
shareholders about the credit of the bonus shares is being dispatched. The bonus
shares in physical form and the necessary intimation is also be-ing despatched
to the share-holders holding shares in physical form.

The Board of Directors of Infosys Technologies at their meeting held on April
13, 2004, had recommended an issue of bonus shares on the company's equity
shares in the ratio of 3:1, ie three additional equity sha-res for every one
existing equity share, by capitalizing a part of the reserves.

The board also announced the change in the ratio of ADS (American Depositary
Shares) to domestic shares from 2:1 to 1:1. The company's members in the
annual general meeting held on June 12, 2004 had app-roved the same. The record
date for the bonus issue was July 2, 2004. Consequent to the issue of bonus
shares, the com-pany's issued and outstanding equity shares as of July 6, 2004
would be 26,74,72,136 includ-ing 2,11,82,848 underlying equity shares
representing 2,11,82,848 ADSs.

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