updated 8/27/2010 3:53:30 PM ET 2010-08-27T19:53:30

NEW YORK, Aug. 27, 2010 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced that its Chairman and Founder, Bharat Desai, will open the NASDAQ market on Monday, August 30, 2010.

At 9:30 a.m. sharp, Desai will open the market and officially begin the trading day, accompanied by various dignitaries including Syntel's CEO and President, Prashant Ranade, members of Syntel's executive leadership team, and representatives from Syntel client companies.

Syntel was selected to open the NASDAQ Stock Market in celebration of the Company's thirtieth anniversary in business. Syntel was founded in 1980 by Bharat Desai and Neerja Sethi and has grown to become a $419 million company with over 15,000 employees providing high-value IT and KPO services to clients across the globe.

 "As we begin our fourth decade in business, Syntel is stronger than ever," said Desai. "In the coming years, we will continue to focus on delivering game-changing solutions to our clients, expanding our suite of industry-focused services, and moving into new solution areas like Green IT, SaaS and cloud computing."

Syntel will run a 30-second video several times throughout the day on the MarketSite Tower, located at 43rd and Broadway. This seven-story tall, high-tech electronic display wraps around the cylindrical NASDAQ building, providing up-to-the-minute financial news, market highlights, and advertisements.

Serving as the epicenter for NASDAQ news and events, NASDAQ's MarketSite is located in the heart of New York's Times Square. Each day, the MarketSite hosts some of the world's business leaders to preside over the Market Open.

Click here to view a live video feed from the NASDAQ MarketSite.

About Syntel

Syntel (Nasdaq:SYNT) is a leading global provider of integrated information technology and Knowledge Process Outsourcing (KPO) solutions spanning the entire lifecycle of business and information systems and processes. The Company is driven by its mission to create new opportunities for clients by harnessing the passion, talent and innovation of Syntel employees worldwide. Syntel leverages dedicated Centers of Excellence, a flexible Global Delivery Model, and a strong track record of building collaborative client partnerships to create sustainable business advantage for Global 2000 organizations. Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2000 certified. As of June 30, 2010, Syntel employed more than 14,900 people worldwide. To learn more, visit us at: www.syntelinc.com.

Safe Harbor Provision

This news release includes forward-looking statements, including those with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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