Satyam Computers Replaces its Nominee on SIFY board

Satyam Computer Services Ltd (Satyam) has announced that, on receipt of
incoming investments into Satyam Infoway (SIFY) from an arm of Soft Bank  Asia Infrastructure Fund (SAIF) and Venture Tech, its current nominees on
SIFY's Board of Directors, Ramalinga Raju and Srini Raju would be replaced
by V Srinivas, CFO of Satyam and K Thiagarajan, Director & Senior Vice
President- Corporate Strategy of Satyam. The reconstitution of SIFY Board is
consequent to the dilution of stake of existing shareholders through fresh
investment of $20 million by an arm of SAIF and Venturetech as already  announced earlier.

The above changes relating to Satyam nominees were approved by the Board of Directors of SIFY on December 9, 2002
and would take effect on receipt of  the investments from the new investors. Ramalinga Raju, Chairman, Satyam
Computers stated, "Even as I step down from the Board of SIFY, I am  heartened and gratified at having played a part, along with the
SIFY team,  in promoting and building SIFY to a leadership position in the Internet
space, with several pioneering initiatives. With the changes in the market
place and renewed strategic focus, I believe SIFY is in a better position  today than ever
before to achieve profitability at an early date. With the  funding SIFY will receive, Satyam's stake in SIFY will go down to
35 percent  and as we indicated to our shareholders and to signal our intent to play a
more passive role, I am stepping down. I am sure that our new nominee  directors, along with other distinguished members of SIFY's board, will play
a constructive role in shaping SIFY's future.

(CNS)