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Wipro in 'Forbes' Fabulous Fifty

  • United Arab Emirates: Monday, November 07 - 2005 at 14:01
  • PRESS RELEASE

Wipro Limited (NYSE:WIT), has featured in Forbes Magazine's 'Fabulous 50' Asian companies.

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  • Mr. Suresh Vaswani, President, Wipro.
    Mr. Suresh Vaswani, President, Wipro.
Out of 500 companies 50 were short listed based on sustainability and profitability. The study included companies from the Asia Pacific region.

According to Forbes some 500 public companies meet their definition of 'big' but on application of additional criteria such as sustained and rising profitability only half of the sample survived. From this set of companies, Asia-Pacific region's fabulous 50 were selected. Companies with at least USD 5 billion in revenue or market value and with the best aggregate scores for long-term profitability, sales and earnings growth and stock-price gains were the statistical criteria. Editors made the final selections.

Mr. Suresh Vaswani, President, Wipro said, "It is a great honor to receive this recognition from such a prestigious magazine as Forbes, known for its integrity and rigorous analysis. Furthermore, we are confident that, by offering our robust solutions in the dynamic marketplace, Wipro is well placed to become the global IT services leader."

On the company's commitment to the Middle East region, Mr. Vaswani said that,

"Wipro is extremely committed to building a strong customer base in the Middle East and will continue to provide value to our customers through our global experience, understanding of various technology domains and bringing customized solutions to our customers in the region."


Wipro started its operations in Middle East region in June 2001. In the subsequent years it expanded its operations in the region to Kingdom of Saudi Arabia, Oman, Qatar, Bahrain and Kuwait. Today it has built a strong customer base in Middle East. Some of its customers in the region include-Doha Bank, Gulf Insurance Company, Sharjah Electricity and Water Authority, Dubai Metal and Commodity Center, SPC and Dubai Municipality among others.

Wipro delivers high end IT services and consulting services to its client in the Middle East region through its two regional offices. One in Dubai Internet City handling operations in UAE, Qatar, Oman and Kuwait, and the second at Al Khobar catering to Saudi Arabia and Bahrain.
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Notes and media contacts

About Wipro Limited
Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro also has profitable presence in niche market segments of consumer products and lighting. Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com, www.wiprocorporate.com , and www.wipro.co.in

Wipro's forward looking and cautionary statements
Forward-looking and cautionary statements Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions 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 our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, 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 Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, 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 filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.

For further information, please contact:

Agency Contact:
Prem Ramachandran
ASDA'A Public Relations
Dubai,UAE
Tel: 00 -9714-3344550
Fax: 00 -9714-3344556

Wipro (Bangalore)

Aparna Ramani
Media Relations
Wipro Infotech
Bangalore
Tel: 91-80-28440343

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