SYNTEL (SYNT) - Upcoming Year 2000 IPO Message Board

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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO

SYNT 40.99

0.0%

Oct 10 5:00 PM EST

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To: airborn who wrote (2310)	12/17/1998 2:57:00 PM
From: Ben	Read Replies (1) of 2761

Following is the reply I received from Syntel for the email I sent to their investor relations asking why the stock is dipping. I hope this reply explains it all. This stock will be a winner in the long term. Bijoy Nair ---------------------- In regards to your question about the recent volatility of Syntel stock: this is not a reflection of any news Syntel has released. In fact, we have released only good news (the completion of Allied Van Lines Year 2000 compliance project and our contract win of Umbro in the UK are the most recent releases we've issued). Syntel has a solid foundation in place and that our fundamentals remain strong. We continue to focus on our higher-margin, higher-revenue generating IntelliSourcing business, and are in the process of doubling our sales force in this area. In addition, we've made a conscious decision to move away from non-recurring Y2K business. Our objective is to limit Y2K revenue to 18% in 1998, and we see that percentage decreasing in 1999. We are being proactive in addressing this issue now rather than next year as several other IT services companies seem to be doing. Analysts appear to be concerned with the short-term impact of this move, but we are confident this is the best approach to grow our business long-term. We have not yet set a date for earnings release. As soon as we set a date it will be listed on our web site under the “What's New” section. I hope I've helped to answered some of your questions. Thank you for your interest in Syntel. Julie Pitser

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