Firstsource signs five-year deal with Barclays

* Firstsource to provide customer care and collections for credit card products

Mumbai, February 8, 2008: Firstsource Solutions (NSE: FSL) today announced that it has signed a five-year, upto US $80 million outsourcing partnership agreement with Barclays PLC (NYSE: BCS) U.S. credit card business. Under the terms of the agreement, Firstsource will manage and operate Barclays operations center in Colorado Springs, and provide customer care and collections support to Barclays U.S. cardholders.

The partnership is expected to provide Barclays with increased operational efficiency and flexibility, and help both companies support their expanding operations in the U.S. The new Firstsource employees in Colorado Springs will continue to be focused on providing services to Barclays U.S. cardholders.

"Firstsource brings a wealth of knowledge and expertise in running large customer support operations for major financial institutions, and we look forward to working with them to enhance our customer service capabilities," said Lloyd M. Wirshba, Chief Executive Officer of Barclays U.S. credit card business. "The partnership will support our extraordinary growth and allow us to continue our tradition of outstanding service delivery to our customers and our partners."

Ananda Mukerji, MD & CEO of Firstsource said, "This is an ideal partnership for Firstsource and Barclays, For Barclays, Firstsource will apply best practices honed by years of collaboration with other major financial institutions to increase efficiency, productivity and customer satisfaction. For Firstsource, the addition of Barclays adds another top institution to our Financial Services practice."

Firstsource currently has nearly 2,500 employees and more than a dozen operations centres in the United States and provides customized business process management solutions to leading US companies in the Financial Services, Telecom and Healthcare industries.

Firstsource's Financial Services clients include three of the five largest banks and six of the 10 largest credit card companies in the United States, and one of the five largest banks in the United Kingdom. Firstsource's range of services includes credit evaluation, accounts set-up, customer service and account maintenance, dispute resolution, mortgage origination and servicing, insurance policy issuance and administration, payment processing, research and analytics.

About Firstsource

Firstsource (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN) is among India's leading BPO (business process outsourcing) service providers. Firstsource provides customized business process management to global leaders in the Banking & Financial Services, Telecom & Media and Healthcare sectors. Its clients include six Fortune Global 500 banks, two Fortune Global 500 telecommunications companies and three Fortune 100 healthcare companies. Firstsource has a global delivery model with operations in India, US, UK, Argentina and Philippines. (www.firstsource.com).

About Barclays PLC

Barclays PLC is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. It is one of the largest financial services companies in the world by market capitalization. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 127,000 people. Barclays moves, lends, invests and protects money for over 27 million customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.

Headquartered in Wilmington, DE, Barclaycard US was America's fastest growing credit card business in 2007. It has more than 60 partnerships with some of the country's most successful travel, entertainment, retail and financial institutions including US Airways, Lufthansa, Barnes & Noble, Best Western, BJ's Wholesale Club, Travelocity and Carnival Cruise Lines. The company employs more than 1000 associates in Wilmington and Colorado Springs, CO, and was named a Top Employer in Delaware in 2007. For more information please visit www.barclaycardus.com.