Bangalore: Infosys Technologies Ltd (Nasdaq:INFY) today (Feb 11, 2004) announced that it has been ranked Number One in the 3Q03 Professional Services Business Quarterly (PSBQ) Benchmark by Technology Business Research Inc. (TBR).

This is the first quarter Infosys was rated and it has been rated above 15 other companies that are part of the PSBQ Benchmark.

PSBQ is a comprehensive analysis of the professional services industry, including management consulting, strategy consulting, system integration, outsourcing and other IT service areas. Technology Business Research Inc (TBR), headquartered in Hampton, NH, is one of the leading high-tech market research and consulting firms.

The Benchmark evaluates various companies on the basis of their market strategy, resource management and financial metrics. The report states "Infosys has fought off the appreciation of the Indian Rupee and pricing pressures to report better-than-expected results for 3Q03 and higher guidance for the rest of its fiscal year.

The company has been taking advantage of the trend of sending IT work offshore in order to realise significant savings."

Announcing this rating, Humberto Andrade, Director of TBR's Professional Services Business Quarterly said, "Infosys' top rank signifies a best-in-class business model, focused strategy and disciplined execution.

Infosys achieved its Number One position on the strength of its financial and market strategy performance. TBR believes that each and every competitor should be aware that Infosys is a global player and is here to stay."

The TBR Ratings come close on the heels of an evaluation by the META Group, which had identified Infosys as a "challenger" in a recently released METAspectrum (SM) ranking of Top IT Outsourcing Vendors in North America.

This criteria used to rate the different vendors validate Infosys' recent shift to solutions-based offering and focus on verticals.

"Outsourcing solutions are evolving toward integrated business and technology solutions," says Dean Davison, Vice President and Research Director at META group, adding that the "Competitive differentiation will centre on vertical expertise and alignment, ability to be competitive across the complete spectrum of technology solutions while integrating management consulting and business expertise."

Reacting to the news, Nandan Nilekani, President, Managing Director and CEO, Infosys Technologies Ltd said, "We are delighted that these ratings have placed us among, and in the case of TBR, even ahead of global leaders. It is a reiteration of Infosys' focus on quality, delivery and understanding of customer requirements. The new direction we have taken in terms of customer focus and solutions offerings, in our journey to be a billion-Dollar-company, has earned us these prestigious rankings in the global map."