Polaris Retail launches Smart Store for SMEs

First retail software to be available in a box format

Chennai, March 26, 2008: Polaris Retail Infotech Ltd. (PRIL), a leading retail software provider and a wholly owned subsidiary of Polaris Software Lab Limited, today announced the launch of Smart Store, a retail software product for small retail businesses. Smart Store is the first packaged retail software for the small retail segment.

Smart Store will help retailers to automate vendor, purchase and stock management functions, maintain accounts and tax, host customer loyalty program and help in other day-to-day services.

Smart Store is preconfigured to match the requirements of various retail verticals such as Fashion & Apparels, Footwear, Pharmacy, Hard Goods & Consumer Durables, Grocery & FMCG, Food & Vegetables, Books & Music stores etc.

Commenting on the launch, Mr. Mohit Oberoi, Business Head, PRIL, said, “Today, PRIL is the single largest software solution provider for organized retail in India. PRIL has been addressing the needs of large and medium retail players through its solution Retail Excel and with the launch of Smart Store for the small retail segment, the company’s portfolio of offerings for the retail sector is now complete. Smart Store will help small retailers drive efficiencies in their business on all critical fronts to gain a competitive edge.

Smart Store is a simplified yet function-rich software product that can be deployed in a day’s time. The product comes with online and localized training and support for its users.

The market for retail in India has an estimated CAGR of 44%. PRIL is on an aggressive growth path and with the launch of Smart Store the company is all geared to tap the booming SME retail market in Asia Pacific”.

PRIL’s Retail Excel is used by over 100 customers, in 2000 stores across 15000 billing counters.

About Polaris Retail Infotech

Polaris Retail Infotech Ltd (PRIL) is a leading retail technology player in India. PRIL is a wholly owned subsidiary of Polaris Software Lab Ltd, a leading provider of banking and financial services software solutions. Retail Excel is the flagship solution from PRIL, which is deployed at leading retail chains in India and South East Asia across multiple retail categories and formats. Retail Excel is also successfully integrated with various enterprise solutions at the backend like SAP, Oracle Apps, BaaN, Microsoft Axapta, Ramco. For more information on PRIL, please visit www.polarisretail.com.

For further information, please contact:

Shailesh Dhawla

Polaris Software Lab

Mobile – 99620 23124

shailesh.d {at} polaris.co(.)in

Nikhila Kesavan,

20:20 MEDIA

Mobile – 9840124036

nikhila {at} 2020india(.)com