Praxis and Nucleus Software Announce Strategic Partnership

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Nucleus Software today announced that they have entered into a strategic partnership with Praxis, Mexico. Praxis will be Nucleus' channel partner for the Mexican market.

New Delhi, June 16, 2009: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced that they have entered into a strategic partnership with Praxis, Mexico. Praxis will be Nucleus' channel partner for the Mexican market.

As their new channel partner, Praxis will focus on the distribution of Nucleus' software products specialized in the financial sector, a market in which Praxis already has a large presence. With their expertise, experience and wide reach in the market, Praxis will enable Nucleus Software further strengthen and expand product and solutions offerings for customers in the Mexican market.

Commenting on this partnership, Niraj Vedwa President & Head - Global Sales & Marketing said, “Latin American market offers great opportunities for Nucleus’ products and is a key focus area for Nucleus’ growth strategy. The partnership with Praxis promises to be mutually beneficial and we hope to expand our footprint in Mexico and Central America by leveraging their distribution network.”

According to Jorge Abud Urbiola, Business Director, PRAXIS, “We are extremely pleased to form this strategic partnership with Nucleus, a well- established and recognized global firm. Our effort to address the needs of the customer has brought us together with Nucleus and we hope this association will help us penetrate the market more effectively, delivering the right solution to our mutual customers.”

About Praxis:

Praxis is a Mexico based organisation founded in 1996. Since then, the company has pursued high level of customer satisfaction in areas of consulting, integration, outsourcing and development services with prime focus on Banking, Finance & Telecom. Our mission is clear, to consolidate the development of the companies through the appropriate usage of information technologies. Praxis applies the best Project Management practices (PMI) and follows guidelines of CMMI for system development, ISO 9001 and ITIL for other services. Praxis offers Intelligent Solutions for Intelligent Business.

About Nucleus Software Exports Limited:

Nucleus Software (NSE: NUCLEUS, BSE: 531209) is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings spanning Retail and Corporate Banking, Cash Management, Credit Cards, Relationship Banking, Financial CRM, Credit Risk & Appraisal, EAI, Internet Banking, FX, Basel II, Data warehousing and Analytics. With customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain. Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India.
For more information, visit www.nucleussoftware.com

Safe Harbor:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, our ability to successfully implement our strategy, our research and development efforts, changes in the value of the Rupee and other currency changes, intense competition in IT and consulting services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Nucleus may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Board of India, Stock Exchange and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

FOR FURTHER INFORMATION, PLEASE CONTACT

Niraj Vedwa
President
Head – Global Sales & Marketing
Nucleus Software Exports Limited
Phone: +91-120-2404050
Mobile: +91-9810071075
Email: niraj@nucleussoftware.com

Safia Khan
Nucleus Software Exports Limited
Phone: +91-120-2404050
Mobile: +91-9818309769
Email: safia.khan@nucleussoftware.com

Abhijit Kaur
The PRactice
Mobile: 9350689996
E-mail: abhijit@the-practice.net