NASSCOM ranks Nucleus Software as one of the top 5 Indian Product Companies

NASSCOM, the apex industry association of software and service companies in
India has ranked Nucleus Software Exports Limited as one of the top five Indian
Product companies in its annual software and services industry performance
report for the financial year 2002. With a turnover of Rs. 63 crores, Nucleus
has attained this position for the first time in the top five bracket.

In NASSCOM's first-ever comprehensive survey of over 2,800 Indian software
and service companies, the leadership status of Nucleus is attributed to the
international success of its flagship product FinnOne, which is the choice of
over 40 financial institutions across 16 countries since its launch.

"At a time when Indian IT companies are driven by a low-cost services
revenue model, we at Nucleus, we have strived to create a world class banking
products. This position of leadership reiterates the success of our choice in
choosing the Product roadmap," said Mr. Vishnu Dusad, Managing Director,
Nucleus Software Exports Limited.

Kiran Karnik, President, NASSCOM, said "Despite 2001-02 being a very
challenging year for the Indian product companies, the NASSCOM annual survey
reveals that the industry has proven to be resilient and continued to record
impressive growth." Adding further he said, " We see immense potential
in Nucleus Software, a company that has survived the challenges in the last one
year and has proved its mettle."

Nucleus, which started its operation in 1986, has come a long way in
developing world class banking solutions. From a team of only a handful number
of people, Nucleus today has a human capital of over 720 people worldwide. With
offices all around the globe, the company has more than 60 customers in and out
of India.

DQW News Bureau