India’s leading industry association of IT software and service organizations selects Momentum as it’s IT partner

May 19, 2004 Vancouver, BC – Momentum Technologies, Inc. a global provider of outsourced software development services, announced today that it has signed an agreement with India’s leading trade association, National Association of Software & Services Companies (NASSCOM) to provide IT services.

NASSCOM is the apex body and umbrella organization of IT software and service organizations in India. It currently has over 850 member companies who collectively contribute to more than 95% of revenues of the software industry in India.? According to a NASSCOM-McKinsey report, annual revenue projections for India’s IT industry in 2008 are US $ 87 billion and market openings are emerging across four broad sectors, IT services, software products, IT enabled services, and e-businesses.

NASSCOM provides statistical and industry related data including Global Trade Leads, Market Intelligence Reports, Government Policies, and Special reports on Information, Communication and Technology trends to its members companies. The management of members is a crucial task catered by the Member Management System application implemented by NASSCOM.

In the first phase of the project, Momentum will provide sustenance engineering services including enhancements to the Member Management System of NASSCOM. Momentum will also work on the development of advanced search functionality for this application.

Sunil Goyal, Momentum’s Vice President of Operations said “We are happy to add an esteemed organization like NASSCOM to our client list. We are confident that we can provide a similar high level of service to NASSCOM, which Momentum is renowned for providing to its various North American clients”.

About NASSCOM

NASSCOM is India’s National Association of Software and Service Companies, the premier trade body and the chamber of commerce of the IT software and services industry in India. NASSCOM is a truly global trade body with around 850 members, of which nearly 150 are global companies from the US, UK, EU, Japan and China. NASSCOM’s member companies are in the business of software development, software services, and IT-enabled/BPO services. NASSCOM is internationally represented at WITSA (World Information Technology Services Alliance) and ASOCIO (Asian Ocean Computing Industry Organisation). For further information, please visit www.nasscom.org.

About Momentum

Momentum Technologies, Inc. specializes in Information Technology consulting focused on providing top quality offshore software services to companies who incorporate outsourcing as a key component of their business strategy. With Momentum's local presence and offshore software development acumen, clients benefit from a cost savings of over 25%, process driven development and reduced time-to-market. Founded in 1999 and privately held with CitiGroup as strategic investor, Momentum has their headquarters in Vancouver, BC and offices in the USA and Canada, including Calgary, with an additional 140 employees worldwide.

For further information, please contact:
Farah Jinha, Principal
TechKnow Communications Inc.
Tel. (604) 980-2448

Email: farrah@techknow.ca