| Teaneck,
NJ - May 30, 2001 - Cognizant Technology
Solutions Corp. (Nasdaq:CTSH), a leading
provider of custom software development,
integration and maintenance services,
announced today that it has been selected
by SmartPartner, a leading magazine
for the IT services industry, as #5
in its new list of "Smart 100"
companies. The top 10 companies in order
are IBM Global Services, Qwest Communications,
Deloitte Consulting, Tech Data, Cognizant,
EDS, DiamondCluster, Proxicom, Sapient
and Accenture.
"The top companies in our ranking
have solid business models and strategies,
and have been able to execute them effectively,"
said Laton McCartney, Editor of Special
Projects for SmartPartner. "Almost
all of the top companies have restructured
themselves in the past few years and
added new capabilities that have allowed
them to navigate effectively through
massive technology and business changes.
As a result they continue to do well
in a tough environment."
"The SmartPartner ranking is a
validation of our unique and highly
competitive business model," said
Kumar Mahadeva, Chairman and CEO of
Cognizant. "We have developed an
on-site/offshore project delivery model
that is unique in the industry for its
quality and speed, and its ability to
deliver high value services at moderate
cost. We have some of the most enduring
client relationships in the industry
because we work closely with our clients
to anticipate and respond to massive
changes in business and technology.
Our R&D capabilities, the Cognizant
Academy (our in-house university), and
our extraordinarily talented people
have helped us manage effectively through
these changes."
"Our pipeline for new revenues
is strong and continues to grow,"
said Gordon Coburn, CFO for Cognizant.
"Clients recognize the power of
our business model and regard us as
a valuable partner."
About Cognizant Technology Solutions
Cognizant Technology Solutions (Nasdaq:
CTSH) is a leading provider of custom
software development, integration and
maintenance services that links e-business
with core information systems for companies
worldwide. Cognizant operates under
a high quality, high value onsite/offshore
model that enables better, faster and
more cost effective development and
deployment of large-scale systems across
a wide range of transaction intensive
business needs.
Its 3,200 employees are committed to
partnerships that sustain long-term,
proven value in order win in today's
global marketplace. Cognizant was listed
as one of the "Best Small Companies
in America," by Forbes and as the
top solutions provider and one of the
top 200 Hot Companies by Business Week.
Cognizant has been assessed at SEI/CMM
Level 5, the highest possible rating.
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