King of Good Times chairs the UBICS board meeting in Pune

December 15, 2005, Pune: UBICS Inc, the Pittsburg headquartered IT division of the USD 2 Billion United Breweries – UB Group, today concluded its meeting of the Board of Directors in Pune. After announcing very aggressive plans for making India as a Strategic Center for its Global initiatives while starting of its operations last year, this is the first time that the Pittsburg headquartered UBICS has held its board meeting outside US. UBICS today enjoys global reputation for its various IT Products, Services and Solutions.

The global board members of UBICS who were present in today’s meeting were Dr. Vijay Mallya, Chairman & CEO, Sunil Patil, President, Global Solutions, Girish Godbole, President, Global Services, Scott R. Heldfond, Director, Manohar B. Hira, Director and T.V. Lakshmi Kanthan, Director. The board met for over an hour and discussed key issues like last one years performance, future growth strategy both on the business and people front; other than this regular work and statutory requirements were discussed and okayed in the meeting. One of the directors Kent D. Price who could not make it due to last moment urgency sent his well wishes to the company board and its employees.

Commenting on today’s board meeting, Dr. Vijay Mallya, Chairman and CEO of UBICS and Chairman of the UB Group, said, “Our decision to start the India operations and making it a strategic hub to UBICS’ global business plan has been greatly vindicated in our last year’s performance. Not only has the India Development Center been complimentary to our international efforts but UBICS has also made certain key inroads in the Indian market with its internationally acclaimed products and services. It is my firm belief that the coming year will see a lot of action from the company - with the complete backing of the UB group and it being already a successful US company, I see UBICS clearly emerging as a leader in the Indian IT industry and a jewel in the crown of the UB group.”

The board of directors had a special word of praise and appreciation for the UBICS management for the performance in the past one year; the India Development Center has taken off to a great start and it has resulted in some prestigious outsourcing deals as also a thrust to the product development in the Indian R&D center. Also, the company’s successful inroads in the domestic market in such a short time span was also noted by the board – UBICS product suites on HR solutions & Video Streaming and its consultancy services has won quite a few successful clients in India like Mahindra BT (MBT), KPIT Cummins, Texas Instruments and State Bank of India.

Commenting on today’s key decisions, Sunil Patil, President– Global Solutions, UBICS, said, “The board has reaffirmed its faith in our India story and it views the Indian operations very strategically. The past one year since we started our operations in India has been more than rewarding with a clutch of business wins both internationally and in the domestic market which we hope to continue through this year. We are in advanced talks with some leading companies and also looking at some senior level appointments to our India management team; with all the exciting times, I sincerely believe that our company is poised to become a significant player in the Indian IT arena.

As part of the aggressive strategy, UBICS expects a revenue growth of 150 % over the next 4 years. Translated into figures, this will amount to an impressive USD 50 Million, of which 50% will be contributed by the Company’s Indian operations. Currently, the US market accounts for the Company’s majority earnings.

In the past one year the company has made significant strides both in its domestic and international operations. In the domestic front the company has been very successful in the people consulting & product business and the patented Video streaming / Distance Learning product suites thus signing up few of the leading companies in India. The company also notched up a few high end outsourcing deals from the US, a key being a contract from a leading healthcare company in the US. In the last one year the company has also strengthened its India operations by ramping up operations in key markets like Mumbai, Bangalore and Delhi.