Dear Shareholders,

The simplicity of the Gandhian movement is staggering. Whether it was the Salt Satyagraha or the practice of Ahimsa, the beliefs were simple, yet the result powerful. It won freedom for our nation and acclaim around the world.

We at Polaris believe as much in the essence of simplicity. Our movement has been towards global leadership. And we are getting there.

Forbes ranked Polaris among the 300 Best Small Companies in the world. And a recent survey conducted by Businessworld Magazine ranks Polaris as the fastest growing software company in India and the second fastest growing company in the country.

We have come this far by delivering a simple yet powerful advantage to clients: Accelerated time to Market.

Our promise is to deliver reliable solutions at a faster rate.

In our bid to move up the value chain, we have invested our energies in two new growth engines: The Component Warehouse (CWH) and BankWare™. CWH offers ready to use components for speedier delivery and BankWareTM is the brand for launching current and future product offerings.

As a learning organization, this year we have initiated an Intranet portal Funda through which all our people are linked. This gives us the ability to share our experiences and leverage expertise whichever part of the globe it is available in. Nalanda, a University, dedicated to training of our people will soon be operational.

Two offices in North America and four new offices in Europe bring the total number of our offices worldwide to 15. Two new state-of-the-art development facilities are also well underway.

The growth is continuous. The methodologies are simple. And we plan to get to our goal by “Thinking like a Start-up and Acting like a Giant”.

With best regards,
Arun Jain
Chairman and Managing Director

21 April 2001