October 31, 2003

The pan-European Steria Groupe has teamed with the Bangalore based PSI Data Systems for pursuing Software business opportunities across Europe and provision of offshore services from India. A Teaming Pact to this effect was inked recently in Paris between Mr. Francois Enaud, Chairman of Groupe Steria, and Mr. Sanjeev Aga, Director of PSI Data Systems.

The Teaming Pact will leverage Steria's leading position in the European IT Services sector with PSI Data Systems’ proven offshore capabilities to enable both Steria and PSI Data Systems to win more business and execute existing projects more efficiently leading to enhanced revenues and profits. This Pact represents a major advance in PSI Data Systems’ strategy to deepen inroads into the attractive European IT Services market. PSI Data Systems’ strong relationship with Steria in the UK was a significant factor in concluding the pan-European engagement. Pursuant to the pact, Steria and PSI Data Systems have already begun developing new opportunities in France, Germany, Switzerland, Benelux and in Scandinavia.

About PSI Data Systems Limited
PSI Data Systems is a leading software services provider. With development centers in Bangalore and Mumbai, and offices across the world, PSI Data Systems offers mature onsite/ offshore project management services anchored by a strong technology and domain focus. The Company is assessed to SEI CMM Level 5 and ISO 9001 : 2000 compliance. Listed on major Indian stock exchanges under the ticker symbol PSIDATASYS, PSI Data Systems is a subsidiary of Indian Rayon (known as Aditya Birla Nuvo since Oct 27, 2005), and part of the Aditya Birla Group whose revenues exceed US $ 6 bn. and operations span 18 countries.

About Steria
With a 2002 revenue of €1 bn. and approx. 9000 employees, Steria is a leading IT services company in Europe. Present in 12 countries worldwide, the Group is positioned as an end-to-end IT services provider through the mastery of its three core businesses : consulting, systems integration and managed services. Its expertise in managing large-scale projects enable Steria to offer its customers reliable service with commitment to quality, cost and risk control. The Group has sector-based expertise in the Public Services, Banking and Insurance, Manufacturing-Utilities-Transport and Telecommunications markets. Created in 1969, Steria is listed on the Premier Marché of the Paris Stock Exchange and in the SBF 120 index.