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Technology Stocks : Infosys Technologies Ltd. (Nasdaq:INFY)

INFY 17.82

-1.2%

Jan 9 9:30 AM EST

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To: Mohan Marette who wrote (15)	3/2/2000 12:46:00 PM
From: Mohan Marette	of 29

RPT-India Infosys in 28 mln stg Sainsbury's deal NEW DELHI, March 2 (Reuters) - India's Infosys Ltd (NasdaqNM:INFY - news) has signed a five-year contract valued at 28 million pounds (1.93 billon rupees or $44.41 million) with British retailing chain Sainsbury's Supermarkets Ltd (quote from Yahoo! UK & Ireland: SBRY.L), the companies said in a joint statement on Thursday. ``Throughout the term of the contract, Infosys will provide development and maintenance support to Sainsbury's for its finance, human resources, and some marketing and warehousing applications,' they said. The statement added Infosys will set up its first European Proximity Development Centre (PDC) in Britain. ``Our PDC in the U.K. enables us to be physically near our customers and work in the same time zone -- as well as working closely with staff in India to reduce time to market,' Infosys' Head of European Business Development Srinjay Sengupta was quoted as saying in the statement.

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