SYNT,,,
Time for y2k stocks..
(BSNS WIRE) Syntel Signs Three-Year Applications Management Contract Ext
Syntel Signs Three-Year Applications Management Contract Extension With
American Home Assurance Company, Inc.
Business Editors & Computers/Electronics Writers
TROY, Mich.--(BUSINESS WIRE)--March 30, 1998--Syntel, Inc.
(NASDAQ:SYNT), a leading information technology (IT) services firm,
announced today that it has signed a three-year contract extension
with American Home Assurance Company, Inc., a member company of
American International Group (AIG).
AIG is the leading US-based international insurance organization,
and among the largest underwriters of commercial and industrial
insurance in the US. Under the terms of the contract, Syntel will
provide broad applications management services to AIG member
companies.
Syntel, Inc. is a leading applications management, Year 2000
compliance, and professional IT consulting firm with 11 offices in
North America, Europe and Asia, as well as four Global Development
Centers in the US and India. Syntel provides technology services to
Fortune 500 companies and government organizations in the
manufacturing, transportation, retail, financial services, and
telecommunications industries. To learn more about Syntel, visit the
company's web site at: www.syntelinc.com.
Safe Harbor Provision
This news release includes forward-looking statements, including
with respect to the future level of business for Syntel, Inc. These
statements are necessarily subject to risk and uncertainty. Actual
results could differ materially from those projected in these
forward-looking statements as a result of certain risk factors set
forth in the Company's prospectus dated August 12, 1997. Factors
that could cause results to differ materially from those set forth
above include trends and developments in the information technology
industry generally, which is subject to rapid technological change
and the Company's concentration of sales in a relatively small number
of large customers, as well as intense competition in the information
technology industry, which the Company believes will increase.
--30--tmf/clv*
CONTACT: Syntel, Inc.
Jonathan K. James, 248/619-3584
E-mail: jonathan_james@syntelinc.com
KEYWORD: MICHIGAN
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
TELECOMMUNICATIONS INSURANCE
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