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New York, NY / New Delhi. July 23,
2008 - ExlService Holdings, Inc. (“EXL”)
(NASDAQ: EXLS), a leading provider of transformation
and outsourcing solutions, today announced the election
of Kiran Karnik to the Board of Directors of EXL
with effect from September 25, 2008. Mr. Karnik
is expected to draw on his three decades of leadership
experience in providing strategic focus to EXL’s
long-term development strategy, talent acquisition
and management initiatives and infrastructure development.
Referring to the announcement Mr. Karnik said, “I
am glad to be on EXL’s Board of Directors.
This association helps me continue with the initiatives
I had taken up at NASSCOM for the advancement of
Indian expertise in the services sector to the global
arena as well as working toward equitable spread
of the supply of talent across India to meet the
employment demands generated by this sector.”
Mr. Karnik was the immediate past President of NASSCOM,
India’s apex industry body representing companies
in the information technology (IT) and IT-enabled
services sectors. During his tenure as President
of NASSCOM, Mr. Karnik worked closely with the industry
as well as the central and state governments in
India to advance this sector in India and globally.
Since joining NASSCOM in 2001, Mr. Karnik has worked
relentlessly to build India’s brand equity
for the service industry and to position India as
the premier off-shoring destination.
Prior to his tenure at NASSCOM, Mr. Karnik was the
Managing Director at Discovery Networks in India
where he spearheaded the launch of Discovery Channel
and Animal Planet in South Asia. Earlier, Mr. Karnik
was Founder-Director of the Consortium for Educational
Communication, which was responsible for the UGC’s
Countrywide Classroom broadcasts and other ICT initiatives.
He has also worked for over 20 years at the Indian
Space Research Organization (ISRO) in various positions
including Founder-Director of ISRO’s Development
and Educational Communication unit and was also
a key player in the pioneering India-USA Satellite
Instructional TV Experiment (SITE).
Vikram Talwar, Executive Chairman of the Board of
Directors, EXL commented, “We are delighted
to have Kiran Karnik on the board. His remarkable
career with extensive and diverse experience is
a valuable addition to EXL’s Board of Directors.”
Rohit Kapoor, President and CEO of EXL commented,
“Kiran is an offshore stalwart. His presence
on the Board and guidance will be a great advantage
in consolidating and sustaining EXL’s leadership
position in transformational outsourcing.”
Mr. Karnik is a recipient of the Padma Shri award
by the Government of India in 2007 and the ‘DATAQUEST
IT Person of the Year – 2005’. BusinessWeek
named Mr. Karnik as one of the ‘Stars of Asia’
in 2004 and he was selected as Forbes magazine’s
‘Face of the Year 2003’, for being a
driving force behind India’s offshoring wave.
A post-graduate from the Indian Institute of Management,
Ahmedabad, Mr. Karnik holds an Honours degree in
Physics from Bombay University.
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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