UST GLOBAL EXPANDS INTO LATIN AMERICA WITH A JOINT VENTURE WITH GE

Chile-Based Delivery Center Provides IT Services to GE and Other UST Global Customers

India / Chile – August, 2009 – UST GlobalSM (UST) announced today that it will be the majority partner in a new IT services delivery center located in Chile. General Electric (NYSE: GE), the minority partner and current UST customer, will be the venture’s first customer. This announcement follows a meeting between the two companies and Chilean president Michelle Bachelet at the Palacio de La Moneda. The government of Chile has committed to several million dollars in incentives towards the development and ongoing operations of the delivery center.

UST’s Arun Subramony has been appointed as the General Manager of this independent entity operating as a business unit of UST. The new location will expand UST’s geographic footprint to nine countries and five continents. The location, scheduled to open in late 2009, will serve UST customers around the world, with particular benefits to North American companies.

“We are excited to announce the start of this new center that will be able to service our North American customers from the same time zone. Further this center will serve our Spanish speaking customers as well as deliver IT services to clients globally.” Says Joe Nalkara, Joint COO, UST Global.

The venture is currently finalizing preparation of its facilities and hiring the staff required to meet its initial contracts with GE divisions.

“The new center will deliver application development and maintenance services to GE divisions around the world,” said president, GE Chile, Alejandro Bottan. “This new venture demonstrates our recognition of UST as a valued partner, as well as our continued trust in Chile’s stability and economic growth.”

About UST Global
UST GlobalSM is a leading provider of end-to-end IT services and solutions for the Global 1000 market. UST Global offers a client-centric Global Engagement Model that provides the optimal mix of senior local resources with the cost, scale and quality advantages of offshore operations for each client. The company is known for its relentless focus on clients, flexibility, and commitment beyond contract. Headquartered in Aliso Viejo, California, UST Global has more than 6,000 employees operating on four continents. For more information visit: www.ust-global.com.

About GE

GE (NYSE: GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit the company’s Web site at http://www.ge.com.

For more information, please contact:
Rekha Menon / Madhusudhanan
UST Global, Corporate Communications
Rekha.Ajit {at} ust-global(.)com / Madhusudhanan.balan {at} ust-global(.)com
Mob:09895556478 / 09940128852