Satyam Objects to World Bank Statements

Hyderabad, India, December 25, 2008: Satyam Computer Services Ltd (NYSE: SAY) vigorously objects to certain inappropriate statements made by World Bank representatives reported recently in the press.  Satyam formally requested today that the World Bank immediately withdraw those statements, that it issue a new statement apologizing to Satyam for the harm done to the company due to the Bank's actions, and that it provide Satyam with a full explanation of the circumstances related to the Bank's inappropriate statements. 

Satyam further advised the Bank that Satyam would evaluate all possible options in view of both the Bank's inappropriate public statements and its response to Satyam’s requests. 

Satyam usually does not comment publicly on matters involving our customer relationships. However, the inaccuracy and inappropriateness of the World Bank’s public statements regarding Satyam has forced us to issue this brief statement in order to set the record straight.

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