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Monday November 2, 10:47 am Eastern Time
Company Press Release
Syntel Ranked No. 2 on Forbes '200 Best
Small Companies in America' List
TROY, Mich.--(BUSINESS WIRE)--Nov. 2, 1998--Syntel, Inc. (Nasdaq:SYNT - news), a
leading Applications Management and information technology (IT) consulting firm, today
announced it is ranked number two on Forbes magazine's ''The 200 Best Small Companies
in America'' list, which is published in the November 2 issue.
Forbes representatives said they began looking at 5,000 U.S. companies based on return on
equity, sales, profit, and market value over a five-year period.
''We are honored to be ranked as number two on the Forbes list. This recognition is a direct
reflection of our employees' dedication, our customers' support, and our shareholders'
confidence in our long-term business strategy,'' said Bharat Desai, Syntel chairman and
CEO.
About Syntel, Inc.
Syntel provides cutting-edge Applications Management and technology consulting services
to Fortune 500 companies such as AIG, Dayton Hudson, Ford Motor Company, and
Borders, among others. Syntel helps its clients better manage their business applications to
improve time to market, productivity, and competitiveness through integrated applications
solutions. The company has approximately 2,200 employees in North America, Europe, and
Asia and operates four world-class Global Development Centers in the US and India. To
learn more about Syntel, visit the company web site at: www.syntelinc.com
Safe Harbor Provision
This news release includes forward-looking statements, including those 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
annual 10-K document dated March 30, 1998. 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.
Contact:
Syntel Inc.
Jonathan K. James, 919/233-6208
jonathan_james@syntelinc.com
or
Syntel Inc.
Julie Pitser, 248/619-2827
julie_pitser@syntelinc.com |
