Nucleus Software amongst the 200 Best Under A Billion Companies in Asia says Forbes

Mumbai, October 22, 2007: Nucleus Software (NSE: NUCLEUS, BSE: NSEL) today announced that it has been listed among the 200 Best Under A Billion Companies in Asia by Forbes Asia magazine. Forbes Asia’s annual list draws from over 22,500 publicly listed outfits in Asia and the Pacific with less than $1Billion in sales. These firms are vetted for consistent growth of both sales and profit for over three years. Nucleus Software is one of the 17 Indian companies to have made it to the list, and amongst the 5 from the Indian IT Sector.

The latest Forbes Asia’s 200 Best under a Billion list includes organizations from 14 countries across Asia and the Pacific region. Besides India, the list covers China, Australia, Japan, Singapore, South Korea,Taiwan and New Zealand.

Nucleus Software is a leading CMM Level 5 organization providing innovative and pioneering software products for Banks and Financial institutions globally. With over 150 customers across the globe and aleadership position in lending product market (Its Flagship product FinnOne™ is ‘World’s No 1 HighestSelling Lending Software’ IBS Publishing, London) Nucleus Software is consistently providing cutting edge and industry driven products for the banking domain.

“This is a major milestone for us. Today, we stand shoulder to shoulder with the pillars of excellence from Asia, and that in itself is the validation of the success. This recognition has strengthened our vision of setting new standards and reaching new horizons. I am certain that our commitment to excellence and devotion to our customers will help us in achieving the goal” said Vishnu R Dusad, CEO and Managing Director, Nucleus Software.

About Forbes:

Forbes is the publisher of Forbes, the leading business magazine, with a North American circulation of more than 900,000. Forbes, Forbes Asia, and the company’s eight local-language editions, together reach a worldwide audience of over five million readers. The company also publishes ForbesLife, the lifestyle bimonthly. Forbes’ other divisions include: Forbes.com; Forbes Conference Group; Forbes Custom Media; and American Heritage website.

About Nucleus Software Export Limited:

Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, cards and cash management. With over 150 customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain.

Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. Nucleus Software is a Level 5 SEI – CMM Company & enjoys strong business relationships with leading multinational players. For more information, visit www.nucleussoftware.com

Nucleus Products:

FinnOneTM

FinnOneTM – CAS (Customer Acquisition System)

FinnOneTM – LMS (Loan Management System)

FinnOneTM – LiquiDeposits

FinnOneTM – FAS (Finance Against Securities)

FinnOneTM – Collections

FinnOneTM – General Ledger

Cash@WillTM (Cash Management Suite)

Cash@WillTM Collections

Cash@WillTM Payments

Cash@WillTM Liquidity Management

Other products:

FMS (Fraud Management System)

PowerCARD (Credit Card System)

BankOnetTM (Internet Banking Solution)

ccAPS (Credit Card Application Processing System)

FOR FURTHER INFORMATION, PLEASE CONTACT

Niraj Vedwa

Head – Global Sales & Marketing,

Nucleus Software Exports Limited

Phone: + 91-120-2403979

Mobile: +91-9810071075

Email: niraj {at} nucleussoftware(.)com

Ruchika Rana

Global PR

Nucleus Software Exports Limited.

Phone: +91-120-2404050

Mobile: +91-9810500330

Email: ruchika.rana {at} nucleussoftware(.)com

Kinara D’Souza

Account Executive, 20:20 MEDIA

Phone: +91-11- 26933291

E-mail: kinara {at} 2020india(.)com