Patni's Consulting and Integration Expertise Reduces Time-to-Benefit for Clear Technology Customers CAMBRIDGE, Mass., June 28 /PRNewswire-FirstCall/ -- Patni Computer Systems, Ltd., a global IT services provider, announced today that it has formed a strategic alliance with Clear Technology, Inc., a leading global software solutions company serving the insurance, financial services and healthcare industries. Under the terms of the agreement, Patni will provide worldwide process consulting and system integration services for Clear Technology's insurance and financial services solutions. The new alliance is already proving beneficial at leading insurance and financial services companies in the U.S., UK and Asia Pacific regions. This relationship is a component of the framework that Patni has established with leading-edge software manufacturers focused on efficiency for insurance and financial services companies. Patni's Professional Services leverage CMMi-5 and Six Sigma best practices and intimate knowledge of leading technology platforms to enable shorter implementation cycles and time-to-benefit for Clear Technology's insurance and financial services customers. Clear Technology provides software solutions that allow insurance and financial services companies to dramatically reduce operating costs while delivering substantial increase in productivity. Using its patented technology platform, Clear Technology is able to deliver its solutions faster and cheaper than existing alternatives. "Patni and Clear Technology are united by a common goal - to improve the efficiency and fundamentally reduce administrative costs for insurance and financial services companies," said Bill Budde, Senior Vice President and Head of Insurance Business Unit, Patni Computer Systems. "Clear's proven solutions for insurance and financial services operations, along with Patni's domain and implementation expertise bring a compelling value-added combination for insurance and financial services companies to improve efficiency and lower operational costs." Ray Wee, Chief Technology Officer, Clear Technology, added, "Our synergistic alliance is simple; by combining Clear's proven insurance and financial services solutions with Patni's globally-respected integration know- how, current and future customers stand to reap significant financial and operational benefits." ABOUT CLEAR TECHNOLOGY, INC. Clear Technology is dedicated to transforming companies in the insurance, healthcare and financial services industries, making their current operations more profitable while providing a platform for accelerated growth and significant competitive advantage. Clear Technology provides software solutions that capture the business processing behavior and knowledge of an organization's best employees. Clear Technology's solutions liberate organizations by eliminating the administrative burden associated with complex processing activities that depend upon legions of back office workers. By automating complex, non-linear, human activity, Clear Technology's clients are realizing breakthrough improvements in consistency, accuracy, timeliness, and productivity. These benefits result in operational cost savings of 40% or more, in as little as 6 to 9 months. Clear Technology clients include: Farmers Insurance Group, North Carolina Farm Bureau, Insurance Australia Group (IAG), Vertex Financial Services and Norwich Union Insurance in the UK. Privately held Clear Technology is based in Westminster, Colorado, with sales offices throughout the U.S. and in the United Kingdom. For more information, visit http://www.clear-technology.com/. About Patni Patni Computer Systems Limited (BSE:PATNIBSE:COMPUTBSE:NSE:BSE:PATNIBSE:NYSE:BSE:PTI) is a global IT Services provider servicing Global 2000 clients. Patni caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications, and its technology- focused practices. With an employee strength of over 12,000 and multiple offshore development facilities across eight cities; Patni has 23 international offices across the Americas, Europe and Asia-Pacific. Patni has registered revenues of US$ 450 million for the year 2005. Patni's service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services. Committed to quality, Patni adds value to its client's businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level 5 organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks. For more information on Patni, visit http://www.patni.com/. Safe Harbor: Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Patni has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our Red herring filing. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company. DATASOURCE: Patni Computer Systems, Ltd. CONTACT: A.J. Workman of Clear Technology, Inc., +1-303-583-4100, or ; or Colin White of Patni Computer Systems, +1-617-914-8337, or ; or Brenda Chroniak of Text 100 Public Relations, US, +1-617-399-4984, or Web site: http://www.patni.com/ http://www.clear-technology.com/

Copyright