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EXL Names Pramode Metre Chief Sales and Marketing Officer

New York, NY. November 1, 2006. ExlService Holdings, Inc. (“EXL”) (Nasdaq: EXLS) announced that Pramode Metre, Vice President and Chief Sales & Marketing Officer had commenced employment with EXL with effect from October 19, 2006. Pramode will be responsible for EXL’s sales, marketing, business development and industry relations. Pramode will be based in New York.

Pramode Metre is an accomplished sales and business development executive in the outsourcing industry. As corporate Vice President at e4e Inc., Pramode led business development efforts and go-to-market strategies for its four lines of BPO businesses. Prior to that he was at Syntel, Inc. as Senior Vice President, Business Development, where he revamped the sales organization, established key new accounts and introduced vertical industry focus and innovative service offerings. Pramode was CEO at NetPilgrim, Inc., a technology community portal. He had previously been based in India for three years and helped to lead Compaq’s growth in that market. Pramode was Vice President, Business Development at a Canadian IT services company and CEO of Inlaks Computers. He began his career at DCM Data Products. Pramode has a Masters in Business Economics from University of Delhi and is an alumnus of Northwestern University’s Kellogg Executive Program.

"Pramode is a great addition to the executive team at EXL. He is a proven sales leader with a successful track record in building customer focused sales teams and driving revenue growth. His experience and strategic thinking will greatly enhance and add value to EXL as we continue to grow our dynamic business," said Vikram Talwar, Vice Chairman and CEO.

"Pramode's vision and strategic direction will be an important addition to the team. He will be instrumental in driving growth in our core markets, and in providing the company access to new markets and significant revenue opportunities. He has a good understanding of the issues facing the BPO industry and is a proven innovator" said Rohit Kapoor, President and CFO. "He will help us with our business transformation solutions, reducing transaction costs, improving process rigor and promoting customer satisfaction."

"This is a very exciting time to be joining EXL. EXL has established itself as a clear leader in global BPO services. Working with demanding Fortune 500 clients is an incredibly rewarding experience. EXL has a solid reputation of operational excellence, commitment and accountability, and I am excited and optimistic about our future." said Pramode.

About ExlService Holdings, Inc.

ExlService Holdings, Inc. is a recognized provider of end to end offshore services, including Business Process Outsourcing (BPO), research and analytics, and risk advisory services. It primarily serves the needs of Global 1000 companies in the banking, financial services and insurance sector. EXL is headquartered at 350 Park Avenue, New York, NY.

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 our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our 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 our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe 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 we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our 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 the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections and elsewhere in the company’s Registration Statement on Form S-1. 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 by us herein, or elsewhere, speaks only as of the date on which we make it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.