Company Reports Its Thirteenth Consecutive Quarter of Growth

Westborough, Mass. – Oct 25, 2004 – Virtusa Corporation, a global provider of software development and related IT services, today reported its second quarter results ending September 30, 2004.

Virtusa continued its revenue and headcount growth in Q2 2004, making the second quarter Virtusa’s thirteenth consecutive quarter of quarter over quarter growth in both categories;
Virtusa initiated eight new client relationships and expanded its client base in vertical industries such as Financial Services, Communications, Retail, and Software Products.

“Companies are constantly looking for ways to improve their profitability and effectiveness through IT consolidation and rationalization,” said Kris Canekeratne, Chairman and CEO of Virtusa. “Virtusa’s highly differentiated capabilities in building agile, mission critical software platforms have helped our clients achieve those goals and have been the key driver to our continued growth.”

Virtusa designs and develops custom-built software platforms that meet a client’s specific needs. By harvesting and consolidating the existing assets and creating new assets that are leveraged across multiple initiatives, Virtusa enables IT organizations to reduce their operational costs and increase business agility.

“Virtusa’s consistent track record is due to our world-class team of software professionals who are so dedicated to create client delight through thought leadership and delivery execution. We look forward to broadening our portfolio of innovative services and deepening our client relationships,” added Canekeratne.