TCS SEES RECOVERY IN GLOBAL BANKING SECTOR

Tata Consultancy Services Ltd (TCS), India's top IT services firm by sales, expects a recovery in
the global banking sector to boost its revenue this year its chief executive said on Tuesday. S
Ramadorai said the company was seeing some signs of a recovery in the demand for outsourcing,
especially from the banking, financial services and insurance sectors that account for 43 percent
of its business.

"We see some signs of activity where businesses have reinvented themselves to reach out to
customers, so that will definitely force a lot of IT options," Ramadorai told Reuters on the
sidelines of an investment conference in the Malaysian capital. "The (global banking and
finance) industry is beginning to look at discretionary spend which was frozen completely after
the crisis."

To meet the recovery in demand and tap future business growth in Asia-Pacific countries, Latin
America and back home, TCS would be looking to hire 18,000 workers in the financial year
ending March 2010, Ramadorai said.

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