SAY Saratoga Investment Corp

- Value of the contract is estimated to be US $200 million HYDERABAD, India, March 28 /PRNewswire-FirstCall/ -- Satyam Computer Services, Ltd. (NYSE:SAY), the leading global and information technology services company, announced today, that it has signed a five-year contract with Applied Materials, Inc., the global leader in Nanomanufacturing Technology(TM) to the electronics industry. Satyam will provide application development, maintenance, and support (ADMS) plus business transformation core technology services to Applied Materials through a managed services delivery model. "We believe the Managed Services model, along with service level agreements, is the right approach for Applied Materials," said Ron Kifer, group vice president and chief information officer of Applied Materials. "We expect this model to provide us with a very cost-effective solution for managing IT and business infrastructure processes and activities, as well as measurable service level and quality enhancements. Satyam's mature processes, deep technical capabilities and high level of commitment were the key factors in our decision to engage them in this strategic relationship." As evidence of its commitment, Satyam has created a dedicated development center for Applied Materials. The facility will be part of Satyam's Electronic City campus at Bangalore. "We expect the Managed Services approach to become commonplace, and to serve as a model for numerous future engagements with other customers," said B. Ramalinga Raju, Satyam's founder and chairman. "It is an example of how Satyam strives to deliver exceptional value and innovation to its customers. These efforts, as well as our commitment to continuous improvement, are further demonstrated by our establishment of a facility dedicated to Applied Materials." Satyam has provided ADMS and Engineering Services to Applied Materials for more than five years prior to this announcement. About Satyam Satyam Computer Services Ltd. (NYSE:SAY), the leading global consulting and information technology services company, provides a comprehensive scope of services to help customers reengineer and reinvent their businesses to compete successfully in an ever-changing marketplace. Nearly 38,000* highly skilled Satyam professionals work onsite, offsite, offshore, and nearshore to provide customized business solutions for companies in several industries. Satyam's ideas and products have resulted in technology-intensive transformations that have met the most stringent international quality standards. Satyam has Development Centers in the USA, the UK, the UAE, Canada, Hungary, Malaysia, Singapore, India, China, Japan, and Australia. These centers serve 541* global companies, of which 158* are Fortune Global 500 and Fortune US 500 corporations. Satyam's presence spans 55 countries, across six continents. TIMES (Telecom Infrastructure Media Entertainment Semiconductors) is a vertical business in Satyam, focused on providing solutions in the convergent space. Today it accounts for 20% of the company's revenue. *As on Dec. 31, 2006 Satyam contacts For further information, contact: India Shakuntala Sarkar, , +919885106696 Rajesh, , +91 40 55316861, +91 98490 42184 US Ivette Almeida, 1-646-284-9455 +1-201-232-0128 Europe Priti Thakker, , +44 (0)20 7715 5000 +44 (0) 7717345581 Asia- Pacific Reshma Wad Jain, , +65 6737 4844, +65 98140507 or Amber Dale, , Jiang Ying, , +86 21 5080 7600 extn 4015, +86 13816686084 Safe Harbor This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward- looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading "Risk Factors" in our report on Form 6-K concerning the quarter ended December 31, 2006, furnished to the United States Securities Exchange Commission on January 27, 2007 and the other reports filed with the Securities Exchange Commission from time to time. These filings are available at http://www.sec.gov/. DATASOURCE: Satyam Computer Services Ltd. CONTACT: India, Shakuntala Sarkar, +919885106696, ; or Rajesh, +91 40 55316861, +91 98490 42184, ; or US, Ivette Almeida, 1-646-284-9455, +1-201-232-0128, ; or Europe, Priti Thakker, +44 (0)20 7715 5000, +44 (0) 7717345581, ; or Asia- Pacific, Reshma Wad Jain, +65 6737 4844, , or Amber Dale, , or Jiang Ying, +86 21 5080 7600 extn 4015, +86 13816686084, , all of Satyam

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