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New York, NY / New Delhi. July 14,
2008 - ExlService Holdings, Inc. (“EXL”)
(NASDAQ: EXLS), a leading provider of transformational
outsourcing solutions, announced today the extension
of its contract with Centrica under the terms of
their existing master services agreement.
Centrica has extended its contract with EXL for
an additional one year period based on the existing
terms and conditions in the Master Services Agreement
between the parties. Over the course of the coming
year, Centrica and EXL intend to work towards a
longer term contract renewal, shifting the outsourcing
paradigm to focus on an outcome-based engagement
model with enterprise-wide transformation as key
drivers of value within the outsourcing relationship.
Mr. Ian Peters, Chief Operating Officer, British
Gas Residential, stated: “We are pleased to
continue our existing strong relationship with EXL
as they assist in British Gas’s continued
drive towards enterprise cost reduction through
transformation and outsourcing. As the skill sets
available from our outsourcing partner, EXL, continue
to evolve, we expect that we will be able to leverage
skills in analytics and process re-engineering to
provide us a compelling advantage in the competitive
utilities marketplace that British Gas serves.”
EXL’s Executive Chairman, Vikram Talwar stated:
“We are proud to continue to serve Centrica
in the execution of their goals for enterprise-wide
transformation. As we strengthen our relationship,
the potential exists for substantial value creation
for both Centrica and EXL as we deliver on our mutual
goals for enhanced efficiency, effectiveness, and
control. We believe the future state model we are
in the process of implementing will prove superior
to the traditional input-based paradigm that exists
in traditional outsourcing contracts today”.
About ExlService Holdings, Inc.
ExlService Holdings, Inc. (Nasdaq: EXLS) is a recognized
business solutions provider. EXL's service offerings
provide a competitive edge to its clients by transforming
and outsourcing business processes. Transformation
services enable continuous improvement of client
processes by bringing together EXL's capabilities
in reengineering, including Six Sigma process improvement,
research & analytics, and risk advisory services.
EXL's outsourcing services include a full spectrum
of business process services from offshore delivery
centers requiring ongoing process management skills.
Headquartered in New York, EXL primarily serves
the needs of Global 1000 companies in the banking,
financial services, insurance, utilities, healthcare,
telecommunications and transportation sectors. Find
additional information about EXL at www.exlservice.com
.
This press release contains forward-looking statements.
You should not place undue reliance on those statements
because they are subject to numerous uncertainties
and factors relating to EXL’s operations and
business environment, all of which are difficult
to predict and many of which are beyond EXL’s
control. Forward-looking statements include information
concerning EXL’s possible or assumed future
results of operations, including descriptions of
its business strategy. These statements often include
words such as “may,” “will,”
“should,” “believe,” “expect,”
“anticipate,” “intend,”
“plan,” “estimate” or similar
expressions. These statements are based on assumptions
that we have made in light of management’s
experience in the industry as well as its perceptions
of historical trends, current conditions, expected
future developments and other factors it believes
are appropriate under the circumstances. You should
understand that these statements are not guarantees
of performance or results. They involve known and
unknown risks, uncertainties and assumptions. Although
EXL believes that these forward-looking statements
are based on reasonable assumptions, you should
be aware that many factors could affect EXL’s
actual financial results or results of operations
and could cause actual results to differ materially
from those in the forward-looking statements. These
factors are discussed in more details in EXL’s
filings with the Securities and Exchange Commission.
These risks could cause actual results to differ
materially from those implied by forward-looking
statements in this release.
You should keep in mind that any forward-looking
statement made herein, or elsewhere, speaks only
as of the date on which it is made. New risks and
uncertainties come up from time to time, and it
is impossible to predict these events or how they
may affect EXL. EXL has no obligation to update
any forward-looking statements after the date hereof,
except as required by federal securities laws
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