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Press Release

October 15, 2003

Virtusa Announces Second Quarter of Record Growth, Appoints New Head of Global HR

Westborough, Mass. – October 15, 2003 - Virtusa Corporation, a global provider of software development and related IT services, announced today that the company posted 36% sequential quarter-on-quarter growth for the quarter that ended September 30, 2003. The growth represents 73% year over year growth as compared with the quarter that ended September 30, 2002.

Virtusa's CEO Kris Canekeratne commented, "Virtusa's growth is a direct result of our highly differentiated focus on ProductizationT, an unparalleled top-tier employee base and our team's relentless focus on execution. Virtusa is selected by some of the world's leading Global 2000 enterprises and product developers seeking to increase software engineering efficiencies through Productization- Virtusa's unique software development methodology."

Virtusa also announced the appointment of Ms. Paula Cassidy as its Global Vice President of HR. Ms. Cassidy, a veteran in leading global Human Resource operations, will drive Virtusa's HR initiatives worldwide. "We are very happy to welcome Paula to our global leadership team. Virtusa continues to grow faster than its competition and we are looking forward to Paula's leadership in scaling our HR infrastructure," said Canekeratne.

"I am excited to join Virtusa and thrilled to be a part of the company's leadership team overseeing global HR operations," added Paula Cassidy. "Caring about its people is in Virtusa's DNA. The company provides a great working environment and tremendous opportunities for employees to grow both personally and professionally. I believe a real differentiator is that Virtusa has maintained an entrepreneurial environment - while growing at this phenomenal rate. I am looking forward to spending time with the entire Virtusa family of employees, to learn from their experiences, and strengthen Virtusa's existing unified and global people vision. "

 

About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for Forbes Global 2000 companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. At Virtusa, digital engineering is at the heart of everything we do. We are 30,000 builders, makers, and doers that partner with customers to reimagine enterprises and creatively build solutions to the most pressing business challenges that move them to the forefront of their industries.

Virtusa's unique Engineering First approach means never presenting an idea we can't execute. With deep industry expertise and empowered agile teams made up of world-class talent, we think about execution early in the process, because the earlier you think about execution the earlier an idea can have an impact. Solving from the inside out enables businesses to respond swiftly to changing needs with improved quality, lower costs, and lasting results.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact:

Matt Flannery
Edelman
(203) 856-2006
matt.flannery@edelman.com

 

About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for Forbes Global 2000 companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. At Virtusa, digital engineering is at the heart of everything we do. We are 30,000 builders, makers, and doers that partner with customers to reimagine enterprises and creatively build solutions to the most pressing business challenges that move them to the forefront of their industries.

Virtusa's unique Engineering First approach means never presenting an idea we can't execute. With deep industry expertise and empowered agile teams made up of world-class talent, we think about execution early in the process, because the earlier you think about execution the earlier an idea can have an impact. Solving from the inside out enables businesses to respond swiftly to changing needs with improved quality, lower costs, and lasting results.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact:

Matt Flannery
Edelman
(203) 856-2006
matt.flannery@edelman.com

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