NIIT Technologies Awarded Global Sourcing Contract by American Safety Insurance

Will streamline technology operations and support customized insurance applications

NEW DELHI, India--(BUSINESS WIRE)--NIIT Technologies Ltd, the global IT services provider headquartered in New Delhi, today announced that they have been awarded a global sourcing contract by American Safety Insurance Services, Inc., the Atlanta-based program manager for American Safety Insurance Group, a provider of specialty property and casualty insurance products for small and medium enterprises.

“We are focused on implementing a strategy that will improve the quality of our internal processes, controls and metrics, while building a talented, global workforce that will differentiate ASI in the marketplace.”

As part of the agreement, NIIT will provide migration, configuration and customization support for ASI’s suite of mission critical applications. The work will be performed collaboratively in an onshore - offshore model between India and the United States. The offshore development center will initially employ a diverse mix of technology consultants which will support ASI’s rating & quoting applications and document management systems. NIIT will also perform integration and configuration services to the Guidewire Claims Center application based on ASI’s user requirements.

“For this vital initiative we wanted to ensure our mission critical applications were in the hands of a process oriented company with expertise in insurance. Through our partnership with NIIT, ASI has the opportunity to access an efficient pool of high quality talent,” said Julia Davis, ASI’s Chief Information Officer. “We are focused on implementing a strategy that will improve the quality of our internal processes, controls and metrics, while building a talented, global workforce that will differentiate ASI in the marketplace.”

“We are pleased to partner with ASI as it aligns its IT organization to improve its operating efficiencies,” said Lalit Dhingra, President (North America), NIIT Technologies. “Our extensive experience and expertise in the financial services market will enable ASI to lower costs while improving the performance of its IT group.”

NIIT was recently ranked in the prestigious 2008 Black Book of Outsourcing Insurance Industry user Survey. According to the survey findings, NIIT Technologies ranked amongst Top 3 in the IT Outsourcing Vendors survey in the Insurance industry. The Insurance practice is a key focus vertical of NIIT Technologies contributing 28% to the consolidated revenues of the organization.

About NIIT Technologies

NIIT Technologies is a leading IT solutions organization, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including Managed Services and Business Process Management to organisations in the Financial Services, Transportation, Retail and Distribution and Government sectors.

NIIT Technologies' software development processes are assessed at SEI CMMI – Level 5 Version 1.2. Its human resource processes are assessed at the highest-level of maturity at PCMM Level 5. Further NIIT Technologies has processes and systems for information security management certified in accordance to the ISO 27001 standard, and its facilities offering Managed Services conform to ISO 20000 standard of Service Management.

For further information please visit www.niit-tech.com

About American Safety Insurance

American Safety Insurance Services, Inc. (ASI) offers innovative insurance solutions in the alternative insurance market for environmental remediation, contracting and other specialty risks underwritten by American Safety Casualty Insurance Company, American Safety Indemnity Company and American Safety Risk Retention Group, Inc., which, as a group, are rated "A" (Excellent) VIII by A.M. Best. ASI is a subsidiary of American Safety Insurance Holdings, Ltd., (NYSE:ASI), a Bermuda-based holding company.

Safe Harbor

Certain statements in this release 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 fluctuations in earnings, our ability to manage growth, intense competition in IT 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, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.