POLARIS

Polaris Software Lab Limited has submitted to the exchange a copy of the resolution passed by the BODs of the company on April 27, 2005 approving the proposed buyback of company's fully paid-up equity shares using "Open Market" purchase through stock exchanges. A copy of the resolution shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Polaris Software Lab Limited has informed the Exchange that BODs of the Company in their Meeting held on April 27, 2005 have approved the proposal for the 'Buyback' of the fully paid Equity Shares of Rs. 5/- each to the extent of or less than 10% of the paid equity capital and free reserves of the Company as of March 31, 2005, however not exceeding 25% of the paid up equity share capital of the Company, from the open market through Stock Exchange(s) at a price not exceeding Rs. 115/- per equity shares payable in cash, upto an aggregate amount not exceeding Rs. 49.00 Crores.