Satyam Receives Golden Peacock Global Award for Excellence in Corporate Governance

LONDON, September 22, 2008: Satyam Computer Services Ltd. (NYSE: SAY), a leading global consulting and information technology services provider, has won the coveted Golden Peacock Global Award for Excellence in Corporate Governance for 2008. The organization was named the winner by The World Council for Corporate Governance (WCFCG), with Dr. Ola Ullsten, the former Prime Minister of Sweden, serving as lead judge.

The honor is especially relevant given that corporate governance best practices are considered key benchmarks by stakeholders who evaluate corporations. In fact, their importance is magnified in difficult economic environments.

"It is a real honor for Satyam to receive such a prestigious award,” said Srinivas Vadlamani, Satyam CFO. “It is a testament to our efforts to continually innovate and advance corporate governance best practices in our industry and around the world."

The award was presented at the Ninth International Conference on Corporate Governance, held in London. G. Jayaraman, Satyam’s Global Head of Corporate Governance and the Company Secretary, accepted the honor at a function attended by business leaders, corporate governance experts and policymakers.
The Golden Peacock Award is the latest of several corporate governance honors for Satyam. Investor Relations Global Rankings (IRGR) rated Satyam as the company with Best Corporate Governance Practices for 2006 and 2007. It also won the Golden Peacock Award for Excellence in Corporate Governance from the Institute of Directors in New Delhi in 2002.

“This honor demonstrates the value Satyam places on corporate governance, and on the importance of serving the interests of our investors, clients, associates and of society,” Jayaraman said.

About Satyam
Satyam (NYSE: SAY), a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in 20* industries and 66* countries.

Satyam leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company’s 51,643* professionals excel in engineering and product development, supply chain management, client relationship management, business process quality, business intelligence, enterprise integration, and infrastructure management, among other key capabilities.

Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve 670* clients, including more than one third of the Fortune 500. For more information, see www.satyam.com.
                                                                                                              *As of June 30, 2008

About Golden Peacock Awards
The Golden Peacock Award for Excellence in Corporate Governance was instituted in January 2001 by ‘World Council for Corporate Governance’ (WCFCG) and Centre for Corporate Governance (CFCG) to encourage initiatives in Corporate Governance globally. In India, the award is coordinated by Institute of Directors (IOD).

The Golden Peacock Awards, recognized as the holy grail of corporate excellence, is a self-assessment tool aimed to accelerate organization’s improvement process. The preparation for the award in itself inspires and aligns the entire work force, builds morale and helps companies achieve superior performance.

Golden Peacock Awards are the highest accolades of corporate excellence in quality, corporate governance, corporate social responsibility, innovation, training, environment management, technological leadership and business leadership. They provide not only worldwide recognition and prestige but also a competitive advantage in operations. The awards are considered unique for they have meticulously defined and transparent selection criteria and is determined by highly elaborate and independent assessment process. www.goldenpeacockawards.com

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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 June 30, 2008, furnished to the Securities and Exchange Commission on July 25, 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.

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