Aspire Systems doubles revenues

ASPIRE SYSTEMS DOUBLES REVENUES

Chennai, June 18, 2004 - Aspire Systems, a leading 'outsourced product development' company based out of Chennai, today announced its financial results for the year ending March 2004. The company continued its fast pace of over 150 per cent growth year-on-year for the second consecutive year. It also continued to maintain a robust operating margin.

"We are pleased to close this year with yet another strong performance. With an increasing number of commercial software companies receptive to outsourcing product development, we are confident of garnering more projects, which will further bolster our growth this coming year and beyond," stated Gowri Subramanian, CEO, Aspire Systems.

With a strict focus on outsourced product development and demonstrated success in developing next generation products, Aspire is bullish on sustaining growth. The company has set ambitious growth plans for the year 2004-05. Aspire has also acquired a large land in Siruseri, the IT corridor in Chennai, India, where the company will set-up its innovation center, planned to have world-class facilities for product development.

“Our intense commitment to customer success has paved the way for significant growth by way of an increasing depth of engagements with existing as well as new customers. The forecast for the next year is very bright with commitments for more work by existing customers in the pipeline. Further, our enhanced marketing initiatives in the US will enable us to cross the set target of another 150% growth for the year 2005,” added Gowri