Global IT Leader Provides Alternatives for Managing Back Office Functions that ease cost and complexity issues for Hedge and Mutual Funds

CAMBRIDGE, Mass – May 05, 2009 - Patni Computer Systems (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI), a leading global IT and BPO services provider, today announced an Operational Fund Accounting Service designed to alleviate the challenges of back office operations that buy-side firms face on a daily basis. As asset management firms continue to look for ways to reduce costs while staying focused on areas of core expertise, Patni has developed a service to manage these critical back-office functions that ensure data consistency, accurate financial reporting, customer data security and privacy; essentially freeing customers to build their businesses.

Patni is currently managing back office accounting for 450 portfolio funds on behalf of customers within the hedge fund and mutual fund industries with more than $325 billion of assets under management. Patni is applying this expertise with the Operational Fund Accounting Service as part of a new cost savings suite for the buy-side industry. Two additional solutions will be introduced subsequently, focused on ‘outsourced hosted global reconciliation services’ and ‘financial controls reporting’.

The Operational Fund Accounting Service is designed as an operational cost take-out to assist fund accounting firms in maintaining their competitive edge. The service combines IT outsourcing and Business Process Outsourcing capabilities that include continuous management and governance controls to ensure the quality and efficiency of data and operations. With the use of Six Sigma processes, dashboards and state-of-the-art tools managed by financial industry experts, Patni assures that client systems are adaptive to rapidly changing industry demands.

“Challenges facing the buy-side industry are growing with increased regulations, caution in the marketplace, and heightened competition,” said Fred Cohen, Global Head of Patni’s Asset Management Practice. “Outsourcing commoditized, critical and non-core back office tasks will enable these firms to focus on the changing market conditions and serving their customers. The Operational Fund Accounting Service developed by Patni provides a more affordable approach to solving these challenges,” he added.

The suite of services offered will benefit investment managers, administrators, brokers and dealers managing such tasks as trade and cash reconciliation, flexible and accurate reporting, reference data management and fund accounting. Firms looking to upgrade back office operations can profit from Patni’s strength with compliance, adaptive value driven engagement models and offerings that cross the business, operations and technology functions to become more efficient without sacrificing service.

About Patni
Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI) is a global provider of IT Services and business solutions, servicing Global 2000 clients. Patni services its clients through its industry-focused practices, including banking, financial services (BFS) and insurance (I); manufacturing, retail and distribution (MRD); life sciences; communications, media and utilities (CMU), and its technology-focused practices.

With an employee strength of over 14,500; multiple global delivery centers spread across 12 cities worldwide; 27 international offices across the Americas, Europe and Asia-Pacific; Patni has registered revenues of US$ 719 million for the year 2008.

Patni’s service offerings include application development and maintenance, enterprise application solutions, business and technology consulting, product engineering services, infrastructure management services, customer interaction services & business process outsourcing, quality assurance and engineering services.

Committed to quality, Patni adds value to its clients’ businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMI Level 5 (V 1.2) organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks.

Patni leverages its vast experience spanning three decades; deep domain expertise; full-spectrum services; and suites of IP-led solutions, methodologies and frameworks; in being an effective business transformation partner to its clients.

For more information on Patni, visit www.patni.com.

Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Patni has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.