NEWS ROOM

“Virtusa has made excellent progress,” said Kris Canekeratne, chairman and CEO of Virtusa Corp. “We grew revenue by 74% with profitability in our 2004 fiscal year that ended March 31st. Virtusa posted eleven consecutive quarters of revenue growth, which we believe is a solid indicator of stability and predictability of our business model.”

"Integration among numerous legacy and packaged applications in various departments and silos is challenging, expensive and cumbersome,” said general partner, Kevin McQuillan. "We invested in Virtusa because its unique services play well to the pain corporations are feeling with today's complex IT infrastructures. Our due diligence with Virtusa's customers found that Virtusa's value proposition is compelling and resonates well with customers. We believe Virtusa's strong management team, blue-chip investors and clients have helped the company achieve strong revenue growth with solid, recurring customer contribution."

Virtusa builds complex mission-critical solutions for its clients through a comprehensive array of software development and related IT services designed to increase IT efficiencies. Virtusa's Productization methodology unleashes the full potential of clients' software assets by consolidating disparate software assets and applications into one or more organization specific software platforms. These platforms are then shared across several lines of business and vertical markets to immediately reduce Total Cost of Ownership (TCO), reduce time-to-market, and accelerate revenue creation.

"Virtusa's growth is due to its highly differentiated value proposition, an outstanding cadre of technology professionals, and its blue-chip client base. Most importantly, Virtusa's growth is a direct result of the exceptional talent, effort, and dedication of over 1900 IT professionals. We are fortunate to have an outstanding global team that relentlessly focuses on creating client delight and building long term client relationships," added Kris Canekeratne.