Satyam Accepts Resignation of Independent Director

Hyderabad, India, December 29, 2008: Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider, today announced the resignation of Prof. Mendu Rammohan Rao, Non-Executive & Independent Director, from its Board.

Earlier, as widely reported in the media, another independent director, Dr. Mangalam Srinivasan had resigned effective December 25, 2008. 

B. Ramalinga Raju, Chairman and Founder, while thanking them for their valuable contributions, reiterated the importance of attending to the agenda item relating to reconstitution of the Board in the forthcoming Board Meeting.

Safe Harbor

This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading “Risk Factors” in our report on Form 6-K concerning the quarter ended September 30, 2008, furnished to the Securities and Exchange Commission on 07 November, 2008, and the other reports filed with the Securities and Exchange Commission from time to time. These filings are available at http://www.sec.gov

Back