Westborough, Mass. – October 15, 2003 - Virtusa Corporation, a global provider of software development and related IT services, announced today that the company posted 36% sequential quarter-on-quarter growth for the quarter that ended September 30, 2003. The growth represents 73% year over year growth as compared with the quarter that ended September 30, 2002.

Virtusa's CEO Kris Canekeratne commented, "Virtusa's growth is a direct result of our highly differentiated focus on ProductizationT, an unparalleled top-tier employee base and our team's relentless focus on execution. Virtusa is selected by some of the world's leading Global 2000 enterprises and product developers seeking to increase software engineering efficiencies through Productization- Virtusa's unique software development methodology."

Virtusa also announced the appointment of Ms. Paula Cassidy as its Global Vice President of HR. Ms. Cassidy, a veteran in leading global Human Resource operations, will drive Virtusa's HR initiatives worldwide. "We are very happy to welcome Paula to our global leadership team. Virtusa continues to grow faster than its competition and we are looking forward to Paula's leadership in scaling our HR infrastructure," said Canekeratne.

"I am excited to join Virtusa and thrilled to be a part of the company's leadership team overseeing global HR operations," added Paula Cassidy. "Caring about its people is in Virtusa's DNA. The company provides a great working environment and tremendous opportunities for employees to grow both personally and professionally. I believe a real differentiator is that Virtusa has maintained an entrepreneurial environment - while growing at this phenomenal rate. I am looking forward to spending time with the entire Virtusa family of employees, to learn from their experiences, and strengthen Virtusa's existing unified and global people vision. "

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