Satyam announces Board Meeting on Dec 29
To consider buy back option
HYDERABAD, India, December 18, 2008: Satyam Computer Services Ltd. (NYSE:SAY), a leading business and information technology services provider, today announced its Board Meeting on December 29, 2008 to consider the proposal for buyback of company shares.
“Based on input from our shareholders and investors, we decided to call off the Satyam-Maytas acquisition. Satyam has called this Board Meeting to consider the proposal for buyback of shares”, said Srinivas Vadlamani, Chief Financial Officer, Satyam Computer Services Ltd.
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.
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