Glodyne bags NREGS implementation in Maharashtra District

Mumbai, 3rd November 2009: Glodyne Technoserve Limited, signed an agreement with the Collector of Gadchiroli, Government of Maharashtra for executing a turnkey Technology Infrastructure Management Project for implementing National Rural Employment Guarantee Scheme (NREGS) in the Gadchiroli District of the state. This project is executable over a period of 5 years on BOOT basis. The project shall envisage implementation of ‘E Disha’ – NREGS Solution offered by Glodyne, containing a host of service features. The project has the potential not only to generate more employment directly and indirectly, but also to transform rural economic and social relations at many levels.

Commenting on the Project, Mr. Atul Patne, Collector Gadchiroli District (COG) said – “We are pleased to sign up for this initiative under the Govt. Scheme. The implementation of the Scheme as envisaged would lead to greater benefits to the rural masses and Inclusive Governance. This is a step taken by the Government / COG for further benefit of the rural masses. The Project which includes, among others, automization of various processes, financial inclusion services, will not only bring more transparency but will also enable convergence of other social schemes like Health, Education etc. We expect that the Project once implemented by Glodyne with the joint efforts of Government machinery, will become a Role Model in this space.

Commenting on the same, Mr. Annand Sarnaaik said – “Glodyne believes that one of the best ways to accelerate the speed of technology adoption is through close Public Private Partnerships. This is the second partnership for Glodyne in the NREGS implementation project, and we have created a strong domain expertise and niche in the domain. The support by the Collector of Gadchiroli, is inspiring and encouraging for the entire Team at Glodyne. We are confident of setting up an example in NREGS implementation.”

About Glodyne Technoserve Limited (BSE: 532672; NSE: GLODYNE)

Glodyne Technoserve Limited is a leading IT Services company with prime focus on Technology Infrastructure Management Services that delivers real time solutions to organizations seeking efficiencies in their IT spends. Glodyne has presence across India and US. For more information kindly visit www.glodyne.com

For more information please contact:

Amita L. Trivedi

C-03, Fortune 2000,

Bandra Kurla Complex

Mumbai – 400051

amita.trivedi {at} glodyne(.)com

Forward Looking Statements

Certain Statements made in this release describing the Company’s objectives, projections, estimate, expectations may be “Forward- looking statements” within the meaning of applicable securities laws & regulations. Actual results could differ from those expressed or implied. Important factors that could make a difference to the Company’s operations include economic conditions affecting demand supply and price conditions in the domestic & overseas markets in which the company operates, changes in the government regulations, tax laws & other statutes & other incidental factors.