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GSS Infotech Ltd. Company History and Annual Growth Details

GSS America Infotech Limited was incorporated as Mayes Technologies Private Limited on
October 13, 2003 under the Companies Act, 1956 with its registered office in Plot No. 189, Road
No.72, Prashasan Nagar, Jubilee Hills, Hyderabad - 500 033, Andhra Pradesh. On acquisition of majority stake in the US based software company, on June 15, 2006 our company has opted to change its name to GSS America Infotech Private Limited to sync in line with the Brand in the US Market. Subsequently, our Company was converted into Public Limited Company, the Certificate for conversion from Private Limited Company to Public Limited Company was issued by the Registrar of Companies on July 7, 2006.

We started our business in October, 2003 with outsourcing contracts for Business development
Services and Back Office work from US based clients. Our Company has, over the years, evolved into an IT outsourcing service provider with a number of services that meet most of its clients outsourcing needs. GSS America is now a global provider of customized solutions and software services to clients in USA. It was promoted in 2003 by Mr. Bhargav Marepally and Mr. Ramesh Yerramsetti. We provide software solutions across a host of technologies and platforms.

Major events in the history of our Company are given below:

Year Major event

2003 * Company was founded with offshore Business development contract from GSS
America Inc.,

2005 * Achieved Revenues of Rs. 596 lacs

* Declared a dividend of 3000% in the second year

2006 * Acquired 60% stake in the US based company and made it a subsidiary

* Made Bonus issue of 499:1

* Achieved consolidated revenues of in excess of Rs. 6300 lacs

* Achieved a Profit of over Rs.1100 lacs

* Bonus Issue of 4:10

* Declared a dividend of 10%

* Acquired US based consulting company Infospectrum Consulting Inc., with
Projected Revenues of US$17 Million for the current year through the US
Subsidiary GSS America Inc.,

* Acquired the balance 40% Stake in the US subsidiary GSS America Inc. by
outright purchase and made it as 100% subsidiary of our company and in turn
Infospectrum Consultancy Inc., as 100% subsidiary as well.

2007 * Expanded geographically by opening up new branch offices in US and Dubai.

* Stock Purchase Agreement to acquire System Dynamix Corporation, through
our wholly owned subsidiary GSS America Inc, effective January 01, 2008.

* Received CMMI Level 3 certification

* Declared a dividend of 15%