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25 Sep 2008

Guidance for Infosys by Credit Suisse First Boston

1. Do not invest in IT companies till the time the quarterly results is not made public.

2. The basis of this fact is based on the fact stated by CSFB (Credit Suisse First Boston) that maximum Indian IT companies are likely to miss the dollar revenue guidance this time.

3. It further states that currency movements and weakening global environment will exert pressure on these companies and thus as a net result CSFB (Credit Suisse First Boston) has downgraded Tata Consultancy Services and Mindtree to 'underperformer' rating and Infosys to 'neutral' rating.

4. It further states that US recovery will be U-shaped and thus will lead to a longer slowdown period for IT companies.

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