MajescoMastek Completes Integration of STG and Vector

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Wed Jul 23, 2008 10:17am EDT 

Strengthens Focus on Life and Annuity, Property and Casualty
                               Insurance
EDISON, N.J.--(Business Wire)--
MajescoMastek, the U.S. subsidiary of global IT solutions provider
Mastek (NSE: MASTEK.NS), today announced it has fully integrated its
two insurance-focused technology acquisitions, STG and Vector, and
that these businesses will now operate as MajescoMastek.

   The company strengthened its insurance vertical business with the
acquisition of Vector Insurance Services LLC (Vector) in July 2007 and
Systems Task Group (STG) International Ltd. in March 2008.

   Under the new organization, MajescoMastek has formed two divisions
focused on meeting the specific needs of insurance carriers: Property
& Casualty (P&C), led by president William S. McCarter; and Life and
Annuity, with Harold Apple serving as senior vice president of this
business.

   As a new combined entity, MajescoMastek will leverage its
extensive IP and insurance domain expertise to grow its position as a
leading IP-led technology solutions provider to North American
insurance carriers.

   MajescoMastek will offer insurance customers an expanded portfolio
of solutions and services, new capabilities, as well as an Insurance
Center of Excellence and research and development lab.

   "The new MajescoMastek brings the right size and scale, proven IP
and offshore cost advantages to enable the success of the insurance
companies we strategically partner with," said Sudhakar Ram, chairman
and managing director of parent company, Mastek.

   MajescoMastek has invested more than $50 million in developing
insurance IP and domain expertise and has a client list that includes
many of the largest carriers. Insurance represents about 30 percent of
the publicly traded parent company's revenues.

   About MajescoMastek

   MajescoMastek is the U.S. subsidiary of Mastek, a US $227 million
publicly listed, global technology solutions and SI company with IP
that enable business transformation in its chosen verticals of
insurance, government and financial services.

   MajescoMastek leverages its wide IP base, deep domain expertise,
mission critical program management abilities, complex solutioning
capabilities and 17 plus years of insurance experience in North
America and across the globe to help carriers unlock business value
using technology solutions. For more information, visit
http://www.majescomastek.com

JMC Marketing Communications & PR
Sandy Frinton, 845-454-3895
sandy@mallen.com

Copyright Business Wire 2008
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