Mastek Launches ElixirAsia for India and Asia Pacific Markets of Elixir Distribution Management Maine Headline

- A Platform for Life Insurance Carriers That Will Enable New Carriers 'Go Live' With Their Businesses in 90 Days

- ElixirAsia Will be the `Platform of Choice' for Insurance Carriers Pursuing Aggressive Growth

- Mastek Expects to be the Leader in the Fast Growing Indian Market

Mastek Ltd, a leading IT solutions player with global operations in providing new technology and IP-led enterprise solutions to insurance, government and financial service organizations worldwide, announced the

ElixirAsia encapsulates over 2000 man years of experience gained from multiple insurance implementations in the region. It is a comprehensive product catering to all aspects of the insurance business lifecycle from proposal to claims while accommodating emerging distribution models. ElixirAsia is proven to support high volume of policies, to meet the growing and unique Asian insurance market needs.

Vilas Kanyal, Head - Asia-Pacific said, "The Asian insurance industry is witnessing tremendous changes with India alone growing at more than 25% over the last few years. This market, unlike the western countries is characterised by a high volume and rapid scale of business. ElixirAsia is built to meet these unique requirements and Mastek will be the partner of choice in this growth story"

The product meets the growth imperatives of an expanding market while keeping IT costs low accomodating ever changing requirements in the industry.

Sudhakar Ram, CMD, Mastek said, "ElixirAsia validates our position as a wave 3 company in Indian IT focusing on intellectual property and high impact for our customers. The Asian insurance market is the most

In February this year, Mastek launched Elixir Distribution Management (EDM), its next generation distribution management solution for life and annuity insurance carriers globally.

About Mastek

Mastek, is a Rs. 965 crore, (FY 2009) publicly held, leading IT player with global operations providing enterprise solutions to insurance,government, and financial services organizations worldwide. With its

For more information and detailed results, please visit our web site http://www.mastek.com

Shareholders may also contact Mastek via email at [email protected] , which has been specifically created for the redressal of investor grievances.

Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and

Media contact:

Sanjay Mudnaney / Leon de Souza

+91-22-2824-7745 / 98335-81376

[email protected]

[email protected]

Investor/analyst contact:

Abhinandan Singh

+91-22-2824-7864

[email protected]

SOURCE: Mastek

--Distributed by AsiaNet ( www.asianetnews.net )--

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