Aspire Systems to double headcount by March 2005

ASPIRE SYSTEMS TO DOUBLE HEADCOUNT BY MARCH 2005

Chennai, India - April 15, 2004 - Aspire Systems, a leading outsourced product development firm, today announced its recruitment and expansion plans. The company will double its existing strength by the financial year ending March 2005 and invest close to Rs 40 crores in the next three years towards a development centre being built in Siruseri, Chennai.

Gowri Shankar Subramanian, Chief Executive Officer, Aspire Systems, said, “Aspire has been experiencing rapid growth over the past three years and we expect our growth momentum to continue in the foreseeable future. From a current strength of 130, we anticipate reaching 220-250 by March, 2005. Our goal is to recruit people who have high-levels of competence in building architectural frameworks for product development. The core technology focus areas are in Java, .NET, C/C++ and Testing.”

The investment towards the new facility will be done in three phases. Aspire plans to complete the first phase by March, 2005 with an investment of Rs 10 crores that will house 300 people. Overall investment towards the new development center over a three-year period is pegged at Rs 40 crores. The development center, when fully completed, will occupy over 4 acres of land and have total seating capacity for 1,200 people.

Aspire’s niche focus has enabled an annualized growth of over 150% for the past two years. Today, Aspire stands as an obvious choice for software product companies who want to harness the dual power of outsourcing and offshoring. It facilitates rapid time-to-market at lower development costs by providing comprehensive services in the areas of product development, advancement, testing, implementation and maintenance.