TCS receives Innovation Award from Ferrari

Innovation from Tata Consultancy Services helps Ferrari retain pole position in Formula 1

Maranello, Italy and Mumbai, India, June 26, 2008: Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm today announced that it received the Innovation Award from Ferrari for its ability to use technology services to spur innovation in one of the most competitive and technologically advanced arenas of automobile engineering. Stefano Domenicali, Ferrari Racing Department Director, presented the Innovation Award to TCS officials.

The citation for the Innovation Award highlights the innovation provided by team TCS and ability to work closely with the Ferrari in a model of collaboration and cultural integration. “TCS has won the Innovation Award for their zeal and proactive attitude, the excellent involvement in the activities of design and the contribution in the selection of IT technologies supporting innovation. Tata Consultancy Services (TCS) is an outstanding example of technological leadership and a model of cultural integration and exchange”, said Mario Almondo, Operations Director of Scuderia Ferrari.

“This is no ordinary recognition. We are delighted that TCS’ ability to innovate and help Ferrari dominate the Formula One racing has been recognized by Ferrari,” said S Ramadorai, Chief Executive Officer and Managing Director, TCS. “The F1 car is the most advanced automobile in the market and this award is a tribute of the work of our team of engineers who are helping as a seamless unit with the engineering and technology team from Ferrari,” he added.

The stock closed the day at Rs.876.85, down by Rs.0.90 or 0.10%. The stock hit an intraday high of Rs.889.90 and low of Rs.862.20.The total traded quantity was 262567 compared to 2 week average of 345721.