Satyam Computer Services, Ltd. (NYSE: SAY), the leading global consulting and IT services company, hosted Honorable Dr. Khalid Bin Mohammed Al Angari, Saudi Arabia’s Minister of Higher Education, during his tour of India this week. The visit reflects the increasing significance of Satyam’s relationship with Saudi Arabia, a critical country in the Middle Eastern IT services market. Dr. Al Angari was accompanied by His Excellency, Dr. Abdullah Bin Ibrahim Al-Moajil, Deputy Minister for Higher Education, Saudi Arabia.
Dr. Al-Angari, with a party of 16 other Saudi university and business representatives, was in India to sign contracts with India’s Ministry of Human Resources Development and India, Inc. The visit has provided Satyam and the delegation the opportunity to collaborate and determine the best ways to leverage bi-lateral business skills and knowledge.
Satyam has proposed a student exchange program for key Universities in Saudi Arabia to train Saudi University graduates at its facilities in India. The much-tested and proven program aims at transforming fresh graduates into productive software engineers, who can function effectively as team members in any IT services project. This program will therefore help the Saudi Arabian graduates to gain requisite IT know-how and solidify the country’s IT base.
His Excellency, Dr. Abdullah Bin Ibrahim Al-Moajil, deputy minister for higher education said: “Satyam is a great company. The value addition that Satyam provides to any organisation is worth noting. More cooperation between Satyam and the universities of Saudi Arabia will help in augmenting quality IT manpower in Saudi Arabia.”
In addition, Satyam will expand its Middle Eastern operations from Dubai to Al Khobar, where it plans to set up a development center. This will not only strengthen the company’s IT infrastructure, but also reiterates its focus on Saudi Arabia, which accounts for nearly 40 percent of the Middle Eastern IT services market. Moreover, Satyam will be better positioned to serve its current Saudi customers, including Al Rajhi Bank, Dabbagh, and Riyadh Bank.
“The proposed student exchange program underscores the potential we see in Saudi Arabia’s young engineering talent and the software development market in the country. It also demonstrates our deep commitment to Saudi Arabia which is an important center for Satyam in the Asia-Pacific region,” said Virender Aggarwal, senior vice president & director, Satyam Asia Pacific and MEIA. He further added: “We look forward to expanding our capabilities and presence in Saudi Arabia through more such alliances, as that nation solidifies its position as a business leader in the Middle East and beyond.”
On arrival at the Satyam Technology Center in Hyderabad, the delegation received a traditional Indian welcome. Later, several Satyam executives met with His Excellency, and shared an overview about the organization and its commitment to Saudi Arabia.
About Satyam
Satyam Computer Services Ltd. (NYSE: SAY), the leading global consulting and information technology services company, provides a comprehensive scope of services to help customers reengineer and reinvent their businesses to compete successfully in an ever-changing marketplace. Nearly 35,000* highly skilled Satyam professionals work onsite, offsite, offshore, and nearshore to provide customized business solutions for companies in several industries. Satyam’s ideas and products have resulted in technology-intensive transformations that have met the most stringent international quality standards. Satyam has Development Centers in the USA, the UK, the UAE, Canada, Hungary, Malaysia, Singapore, India, China, Japan, and Australia. These centers serve 521* global companies, of which 157* are Fortune Global 500 and Fortune US 500 corporations. Satyam’s presence spans 55 countries, across six continents.
* As on September 30, 2006
Safe Harbor
This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading “Risk Factors” in our report on Form 6 - K concerning the quarter ended September 30, 2006, furnished to the United States Securities Exchange Commission on October 27, 2006 and the other reports filed with the Securities Exchange Commission from time to time. These filings are available at http://www.sec.gov.
