Cranes Software Among India's Fastest Growing Technology Companies

Bangalore, November 28, 2005: Cranes Software International Ltd., a global scientific and engineering software solutions provider, has been recognised as one of the 50 fastest growing companies in India by the Deloitte Technology Fast 50 India inaugural award. This award has been instituted in India by Deloitte Touche Tohmatsu to recognize the fastest growing technology companies in India. Cranes Software bagged the award after a rigorous selection procedure that involved taking into consideration its percentage revenue growth from FY 2003 to FY 2005, among other considerations.

"It is an honour to be recognised amongst the Fast 50 rapidly growing companies in India by Deloitte. This is the third time in a row that our company has been judged to be one of the fastest growing technology companies in the Asia Pacific region by Deloitte Touche Tohmatsu. We are committed to delivering similar outstanding performance, by delivering high quality software products and services to our customers," says Asif Khader, Managing Director, Cranes Software International Limited.

In FY 2003, Cranes Software posted operating revenues of Rs. 610.1 million, which increased to Rs. 1,136.9 million in FY 2004 and Rs. 1,633.8 million in FY 2005. Over the two last years, Cranes Software grew at a Compounded Annual Growth Rate of 63.6%. Further, in the first six months of the current fiscal year, Cranes Software's revenues have grown by 46.5%. Proprietary products owned by Cranes Software, namely SYSTAT, Sigma Product Line, TableCurve 2D, TableCurve 3D, Peakfit and NISA, make up 80% of total revenues.

Cranes Software had previously emerged the fastest growing Indian technology company amongst the public-listed companies in Deloitte Touche Tohmatsu's Asia Pacific Fast 500 Survey over two consecutive years: 2003 & 2004. These surveys evaluated growth achievements over two consecutive years ended March 2003 and March 2004.


About Deloitte Technology Fast 50 Awards

Esablished in San Jose, California, in 1995, the Deloitte Technology Fast 50 ranks the 50 fastest growing technology companies by geographic region. The growing program operates independently in 10 countries outside of the United States, plus one region - Central Europe. The Fast 50 programs supplement the broader Deloitte Technology Fast 500 initiative in that the winners typically because automatically eligible to participate in the Fast 500. This is the first time that the award has been held in India. In order to be eligible to participate, participants were required to own proprietary technology that contributes to a significant portion of their operating revenues; devote a significant proportion of operating revenues to research and development of technology; and operating revenues of at least USD$ 50,000 in the first year of the three years being analyzed.

About Cranes Software International Ltd. (CSIL)

Cranes Software is a global scientific & engineering products and solutions provider. The Company's business interests straddle products, services, R&D in future technologies, training and high-end consultancy for engineers and scientist worldwide. Focused on the scientific and engineering community, Cranes Software has addressed the needs of a variety of customer groups ranging from large multinational companies to government, defence, educational and research institutions for over a decade.

Today, Cranes Software has its presence in 39 countries across the world and has a customer base of more than 350,000. Cranes Software also offers world-renowned solutions from reputed principals such as The MathWorks, Texas Instruments, IBM through product alliances.

With a mission statement to provide its customers the best in scientific technology and to enable its customers to define new limits, Cranes Software is setting new standards in the scientific and engineering field.

For further information on the company, please visit www.cranessoftware.com.