Sydney, Monday April 30, 2007

Tata Consultancy Services (TCS), a leading IT services, consulting, business solutions and outsourcing organisation, today announced that its subsidiary FNS has signed a multi-million dollar agreement to supply BANCS core banking software to Russian Federation based B.I.N.BANK. This announcement follows on the success of FNS BANCS core banking solution recently being awarded the top retail/private position in the 2006 IBS Sales League Table.

B.I.N.BANK will replace its core banking system with BANCS modules for retail, trade, treasury, deposits, loans, payments, cards, and branch delivery to provide online, real time transaction processing and reporting across multiple channels in a 24/7 environment. The bank is a leader in achieving superior customer service for its clients via the adoption of innovative banking technology. The banks network includes over 18 retail branches in Moscow, 21 regional branches and 15 representative offices throughout the Russian Federation.

Established in 1993, B.I.N.BANK has a growing network of 26,500 corporate customers and a retail customer base of 139,000. The banks modern banking portfolio comprises over 2,490 ATMs, 32 self-service terminals, and approximately 140 000 payment cards.

“Technology is the underlying foundation that empowers a modern financial institution like B.I.N.BANK to be successful. This core banking initiative is a critical component of our business strategy as we continue to maximize new product development initiatives and bank profitability” said Mikhail O. Shishkhanov, President of B.I.N.BANK.

“By leveraging our in-depth knowledge of core banking, clients such as B.I.N.BANK can experience certainty in achieving operational efficiency from BANCS software solution. Recognized as one of the worlds leading IT banking solution providers we are ready to extend our product offering in the Russian Federation. This BFS product suite continues across wholesale banking, capital markets, wealth management and insurance. Our entry into the Russian Federation is part of a long term growth plans in the region.” Stated N Ganapathy Subramaniam, Head of Banking Practice at Tata Consultancy Services.

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development.

A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 89,000 of the world's best trained IT consultants in 47 countries. The Company generated consolidated revenues of US $4.3 billion for fiscal year ended 31 March, 2007 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com

About B.I.N.BANK

B.I.N.BANK was established in 1993. As of 1 January 2007 the bank had a total asset base of USD 2.3 Mln. Today the bank is recognized as having a competitive niche in corporate lending, retail business, trade finance and long-term finance. B.I.N.BANK has a wide range of points of sale coupled with a wide regional presence. The bank has strong support from its shareholder base and is part of strong financial and industrial group. In the near future the bank has plans to enter the top 20 Russian banks rankings and be a well known and positively regarded brand in both the Russian and International markets. According to Forbes business journal B.I.N.BANK is ranked 21st by deposits, 35th by capital and 30th by assets amongst the leading “100 Russian banks”. For more information: http://www.binbank.ru/eng/

About Financial Network Services (FNS)

Founded in 1982, Financial Network Services Pty Ltd (FNS), acquired by Tata Consultancy Services is a specialist core banking software and integration Services Company which ranks highly amongst the world’s top suppliers of banking solutions. From its beginnings producing retail banking solutions, FNS has enhanced its flagship solution, BANCS, to incorporate universal banking functionality spanning multi-delivery channels, treasury, trade and payments capabilities built on the same advanced technology foundation. For more information: TCS BaNCS.