Cognizant Technology Solutions To Receive PublicCompany of the Year Award From the New Jersey...

TEANECK, N.J.--(BUSINESS WIRE)--Oct. 12, 1999--

Cognizant Technology Solutions Corporation (Cognizant) (Nasdaq:CTSH), an applications management outsourcer providing software development and maintenance services and a leading e-business solutions provider, today announced that it has been

The award will be presented to Cognizant at the Fourth Annual New Jersey Technology Awards Gala on Nov. 5, 1999, at Ellis Island National Park.

"We are very honored to have been recognized by the NJTC," said Kumar Mahadeva, Chairman and Chief Executive Officer, Cognizant Technology Solutions. "Since our initial public offering in June of 1998, we have worked very hard to strengthen and expand our business and, as a result, revenues are up and stock value has more than tripled. This award makes our success all the more sweet."

Founded in 1994, Cognizant provides solutions for and partners with CIOs and CEOs to help them thrive in a fast-changing and increasingly competitive landscape. One of the fastest-growing companies in the applications outsourcing sector of technology services, Cognizant's practice area specialties include e-business for the financial services, healthcare and information-defined industries. Red Herring magazine listed Cognizant as one of the Top 25 IPOs of 1998.

The NJTC was founded to provide recognition, networking, information and services for technology businesses across the state. The award, sponsored by Julien J. Studley Inc., was established four years ago to recognize companies that have had a substantial impact on the technology industry.

About Cognizant Technology Solutions

Cognizant delivers high-quality, cost-effective, full life-cycle applications management solutions to complex software development and maintenance problems. Cognizant employs more than 2,000 computer sciences and engineering professionals at client sites and at its seven development centers in India. The company's offerings include application development, maintenance and re-engineering, with expertise in data warehousing, Web enabling, Internet, object-oriented development, client/server and legacy platforms. Cognizant's development centers have been assessed at SEI/CMM Level 4 and its methodologies are ISO 9001 certified. For more information, visit Cognizant on the Web at http://www.cts-corp.com.

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although Cognizant believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. These statements may involve risks and uncertainties that could cause actual results to differ materially from the expected results. Such risks include, but are not limited to, the risk factors described in Cognizant's Registration Statement on Form S-1 and in other reports and periodic filings made from time to time with the Securities and Exchange Commission.