TCS Financial Sols' payment product wins tech award

New Delhi, June 28, 2007: TCS Financial Solutions has announced today that it has successfully launched a unified European payments solution. This innovative payments platform highlights TCS Financial Solutions' growing commitment to deliver advanced software solutions for banking customers throughout the world.

"Collectively, TCS Financial Solutions and Société Générale have successfully built a multi-country, multi-currency European payments platform" commented Mr. T. Roehm, Head of Société Générale Corporate Cash Management. "The committed efforts of both Société Générale and TCS Financial Solutions have provided the bank with a unified European payment offering that consolidates corporate cash activities across Switzerland, the United Kingdom, Spain, Germany and the wider European region. This payments platform provides better quality of service for our customers and assists our bank to rapidly adapt to changing market conditions."

In addition, TCS Financial Solutions has been honored by The Banker magazine with the prestigious 2007 Cash Management / Treasury Technology Award. The Banker selected QUARTZ Payments - recently rebranded as TCS BaNCS Payments - based on its advanced architecture, innovative integration features and ability to provide one of Europe's largest banks with a unified payments infrastructure that included TARGET2 and SEPA compliant functions and capabilities.

"By producing sophisticated software solutions that improve operational efficiency and drive revenue growth we continue to deliver product superiority to the world's leading financial institutions" stated Mr. N. G. Subramaniam, President of TCS Financial Solutions. "The Banker Technology Awards were established to recognize excellence in banking technology innovation and TCS Financial Solutions is proud to be honored with The Banker magazines Technology Award in Cash Management / Treasury. The focus of TCS BaNCS Payments product is to deliver an integrated solution which assists leading banks such as Société Générale to consolidate back office operations and provide a uniform customer experience across multiple geographies." Mr. N. G. Subramaniam added.

With TCS BaNCS Payments solution clients are able to homogenously process multiple payment products, achieve consolidation of operations and IT infrastructure as well as dramatically improve client servicing and operational efficiency.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best of breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base in excess of 200 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide.

About Tata Consultancy Services Ltd (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.