Kiran Karnik Appointed as an Independent Director on EXL's Board

NEW YORK and NEW DELHI, India, July 23 /PRNewswire-FirstCall/ --
ExlService Holdings, Inc. ("EXL") (Nasdaq: EXLS), a leading provider of
transformation and outsourcing solutions, today announced the election of
Kiran Karnik to the Board of Directors of EXL with effect from September 25,
2008. Mr. Karnik is expected to draw on his three decades of leadership
experience in providing strategic focus to EXL's long-term development
strategy, talent acquisition and management initiatives and infrastructure
development.
Referring to the announcement Mr. Karnik said, "I am glad to be on EXL's
Board of Directors. This association helps me continue with the initiatives I
had taken up at NASSCOM for the advancement of Indian expertise in the
services sector to the global arena as well as working toward equitable spread
of the supply of talent across India to meet the employment demands generated
by this sector."
Mr. Karnik was the immediate past President of NASSCOM, India's apex
industry body representing companies in the information technology (IT) and
IT-enabled services sectors. During his tenure as President of NASSCOM, Mr.
Karnik worked closely with the industry as well as the central and state
governments in India to advance this sector in India and globally. Since
joining NASSCOM in 2001, Mr. Karnik has worked relentlessly to build India's
brand equity for the service industry and to position India as the premier
off-shoring destination.
Prior to his tenure at NASSCOM, Mr. Karnik was the Managing Director at
Discovery Networks in India where he spearheaded the launch of Discovery
Channel and Animal Planet in South Asia. Earlier, Mr. Karnik was
Founder-Director of the Consortium for Educational Communication, which was
responsible for the UGC's Countrywide Classroom broadcasts and other ICT
initiatives. He has also worked for over 20 years at the Indian Space Research
Organization (ISRO) in various positions including Founder-Director of ISRO's
Development and Educational Communication unit and was also a key player in
the pioneering India-USA Satellite Instructional TV Experiment (SITE).
Vikram Talwar, Executive Chairman of the Board of Directors, EXL
commented, "We are delighted to have Kiran Karnik on the board. His remarkable
career with extensive and diverse experience is a valuable addition to EXL's
Board of Directors."
Rohit Kapoor, President and CEO of EXL commented, "Kiran is an offshore
stalwart. His presence on the Board and guidance will be a great advantage in
consolidating and sustaining EXL's leadership position in transformational
outsourcing."
Mr. Karnik is a recipient of the Padma Shri award by the Government of
India in 2007 and the 'DATAQUEST IT Person of the Year -- 2005'. BusinessWeek
named Mr. Karnik as one of the 'Stars of Asia' in 2004 and he was selected as
Forbes magazine's 'Face of the Year 2003', for being a driving force behind
India's offshoring wave. A post-graduate from the Indian Institute of
Management, Ahmedabad, Mr. Karnik holds an Honours degree in Physics from
Bombay University.
About ExlService Holdings, Inc.
ExlService Holdings, Inc. (Nasdaq: EXLS) is a recognized business
solutions provider. EXL's service offerings provide a competitive edge to its
clients by transforming and outsourcing business processes. Transformation
services enable continuous improvement of client processes by bringing
together EXL's capabilities in reengineering, including Six Sigma process
improvement, research & analytics, and risk advisory services. EXL's
outsourcing services include a full spectrum of business process services from
offshore delivery centers requiring ongoing process management skills.
Headquartered in New York, EXL primarily serves the needs of Global 1000
companies in the banking, financial services, insurance, utilities,
healthcare, telecommunications and transportation sectors. Find additional
information about EXL at www.exlservice.com.
This press release contains forward-looking statements. You should not
place undue reliance on those statements because they are subject to numerous
uncertainties and factors relating to EXL's operations and business
environment, all of which are difficult to predict and many of which are
beyond EXL's control. Forward-looking statements include information
concerning EXL's possible or assumed future results of operations, including
descriptions of its business strategy. These statements often include words
such as "may," "will," "should," "believe," "expect," "anticipate," "intend,"
"plan," "estimate" or similar expressions. These statements are based on
assumptions that we have made in light of management's experience in the
industry as well as its perceptions of historical trends, current conditions,
expected future developments and other factors it believes are appropriate
under the circumstances. You should understand that these statements are not
guarantees of performance or results. They involve known and unknown risks,
uncertainties and assumptions. Although EXL believes that these
forward-looking statements are based on reasonable assumptions, you should be
aware that many factors could affect EXL's actual financial results or results
of operations and could cause actual results to differ materially from those
in the forward-looking statements. These factors are discussed in more details
in EXL's filings with the Securities and Exchange Commission. These risks
could cause actual results to differ materially from those implied by
forward-looking statements in this release.
You should keep in mind that any forward-looking statement made herein, or
elsewhere, speaks only as of the date on which it is made. New risks and
uncertainties come up from time to time, and it is impossible to predict these
events or how they may affect EXL. EXL has no obligation to update any
forward-looking statements after the date hereof, except as required by
federal securities laws.
SOURCE ExlService Holdings, Inc.

Jarrod Yahes, Head of Investor Relations, ExlService Holdings, Inc.,
+1-212-277-7109, ir@exlservice.com