NEWS ROOM

Virtusa Partners with Academic Institutes to Expand IT Workforce Capacity

Scholarship program for undergraduates launched

Colombo, Sri Lanka - April 9, 2008 - Virtusa Corporation (NASDAQ:VRTU), one of the leading information technology (IT) services companies operating in Sri Lanka and a globally renowned IT solutions provider, announced an innovative scholarship program in collaboration with leading universities in Sri Lanka to expand the IT workforce capacity.

The Virtusa Placement Engineer Scholarship program is an innovative initiative to support work-study approach to obtaining a degree in IT. The program brings together students, academic institutes and Virtusa in the process of students obtaining an IT degree. The students study part time at a reputed academic institute while gaining work experience at Virtusa. Virtusa provides financial assistance, on-the-job training and learning assistance to students to complete their degree studies while gaining significant exposure to a real-life, world-class working environment. The program aims to increase IT graduate capacity by increasing the success rate of open and distance education programs. During the first phase of the program, the University of Colombo, the Open University, Sri Lanka Institute of Information Technology (SLIIT), National Institute of Information Technology (NIIT) and IDM Computer Studies students will receive opportunities to participate in the program.

The Virtusa Placement Engineer Scholarship Program is part of Virtusa’s Campus Reach corporate responsibility initiative, which is aimed at positively influencing the quality and quantity of IT graduates in Sri Lanka.

Speaking at the launch ceremony held in Colombo, the chief guest, Minister of Public Administration & Home Affairs and The Chairman of the Cabinet Subcommittee on Human Resource Development, Honorable Minister Karu Jayasuriya, said, “The IT and BPO industry has a significant potential to become the number one industry for Sri Lanka in terms of foreign earnings, and can be an avenue for creating a large number of professional jobs in the country. It is encouraging to see Virtusa taking a leadership position in the process of expanding workforce capacity, which is essential for the growth of the industry.”

“This innovative approach will significantly improve the success rate of open and distance degree programs, and will assist in creating highly-employable IT graduates. We are glad to be able to extend this opportunity to talented individuals, who will now have a chance to participate in the worldwide IT boom.” said Madu Ratnayake, General Manager, Virtusa Sri Lanka. “With many Virtusans participating as volunteer lecturers, student mentors, curriculum developers and a host of other academic support programs, we aim to create global opportunities for talented youth and support the development of the IT industry in the country,” added Ratnayake, explaining the company’s philosophy behind the Campus Reach initiative.

About Virtusa

Virtusa is a global information technology (IT) services company providing IT consulting, technology implementation and application outsourcing services. Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides cost-effective services that enable its clients to use IT to enhance business performance, accelerate time-to-market, increase productivity and improve customer service. Founded in 1996 and headquartered in Massachusetts, Virtusa has offices in the United States and the United Kingdom, and global delivery centers in India and Sri Lanka. "Virtusa" is a registered trademark of Virtusa Corporation.