Aspire Systems sets ambitious goals for 2004-2005

ASPIRE SYSTEMS SETS AMBITIOUS GOALS FOR 2004-2005

Chennai, February 20, 2004 - Aspire Systems, a leading outsourced product development firm for companies in the US, today outlined its goals for the financial year 2004-2005. Having witnessed significant growth in the last year, the company is bullish about its growth this year too.

The company is set to record a substantial growth clock close to $5 million in revenues for the financial year 2004-2005. Aspire’s growth plans also encompass enhancing its quality initiatives. It has put in place a team to achieve ISO Certification by August 2004. The team will also drive the company to achieve CMMI Level 4 certification by end of financial year.

Gowri Subramanian, Chief Executive Officer, Aspire Systems commented “At Aspire, we focus on our customers with an intense commitment. This has paved way for significant growth by way of increased outsourcing of projects from existing as well as new customers. As we step into the next phase of growth, our objective would be to transform ourselves into a global firm for outsourced product development."

Aspire is bullish about the market in US. The company recently revamped its marketing team and the result has been a sudden spurt of new business. While the existing customers further added 50% worth of product development work, the company has witnessed a 100% growth in new business. The company, known for its employee-friendly work culture, re-emphasized this today by committing to plan and announce Employee Stock Option Plans (ESOP) for key team members during this financial year.”

Commenting on this, Gowri said, “The success of Aspire has been a result of quality work engineered by our team members. We would like to extend a long term benefit for our team members by way of stock options which will also help in creating a sense of ownership and entrepreneurial drive."