Syntel Announces Management Changes, Keshav Murugesh Named President and Godbole Appointed CFO

Chennai, Tamil Nadu, India

Syntel, Inc. (NASDAQ: SYNT) today announced the promotion of Keshav R Murugesh to the role of President, in addition to Chief Operating Officer (COO). Keshav has been serving as COO from October 1, 2004.

Murugesh, 43, joined Syntel in 2002 from ITC Ltd. in India, where he last served as Vice President, Finance of their Infotech Company. Prior to his appointment to COO in 2004, Murugesh served as Syntel's CFO for two years where he migrated the entire Finance function to India and even today Syntel is the only US listed and registered Company to locate its entire Finance operation in India. As COO he has driven sequential revenue growth in every quarter since he took over. Market capitalisation of Syntel Inc. has risen to a recent high of $ 1.2 billion.

Keshav is also Chairman of Students In Free Enterprise in India which has an association with a large number of college campuses across India. SIFE spreads the spirit of free enterprise among the college community.

"During his four and half years with Syntel, Keshav has consistently demonstrated strong leadership skills and business acumen," said Bharat Desai, Syntel Chairman and CEO. "This management move enables me to focus on strategic initiatives as well as Syntel's mission & vision, while Keshav manages the operational affairs of the organization".

In addition, the Company announced the appointment of Arvind Godbole to Chief Financial Officer (CFO). Godbole, 49, joined Syntel as Corporate Controller in 2001 and since June, 2006, has been serving as Acting Chief Financial Officer.

"Since joining Syntel in 2001, Arvind has consistently done an excellent job managing our finance and accounting functions and has clearly earned this opportunity to serve as the CFO. I wish both Keshav and Arvind the best in their newly-expanded roles" said Bharat Desai.

"Syntel has inaugurated Phase 1 of its 40 acre campus in Pune recently and is taking steps to commence construction at a new SEZ Complex in Pune. An additonal 40 acre has been acquired in Pune and overall capacity will be approx. 9000 people over the next few years. Syntel will start build out its new 30 acre Chennai campus Phase 1 of 500,000 sq ft of which is planned for Q1 2008. Significant investments are planned in Pune, Chennai and Mumbai as we dramatically expand our footprint in India", said Keshav Murugesh, Syntel President and COO.

About Syntel

Syntel (NASDAQ: SYNT) is a leading global provider of custom outsourcing solutions in a broad spectrum of information technology and information technology-enabled services. The Company's vertical practices support the entire Design-Build-Operate-Optimize lifecycle of systems and processes for corporations in the Financial Services, Insurance, Retail, Health Care and Automotive industries. The first US-based firm to launch a Global Delivery Service to drive speed-to-market and quality advantages for its customers, Syntel now leverages this efficient model for the majority of its Global 2000 customers. Recently named one of Forbes Magazine's "Best 200 Small Companies in America," Syntel has more than 7,500 employees worldwide, is assessed at Level 5 of the SEI's CMMI, BS 7799-2:2002 as well as ISO 9001:2000 certified. To learn more, visit us at www.syntelinc.com

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Asheem Bakhtawar, Practice Director - Marketing & PR, Syntel, Inc., +91 9820239075 asheem_bakhtawar@syntelinc.com

Source: Syntel, Inc. (Business Wire India)

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