FOR IMMEDIATE RELEASE: [GRAPHIC OMITTED]
Ness Technologies Announces Pricing
of Initial Public Offering
HACKENSACK, NJ - SEPTEMBER 29, 2004 - NESS TECHNOLOGIES, INC. (NASDAQ: NSTC),
today announced that its initial public offering of 11,672,000 shares of its
common stock was priced at $12.00 per share. Ness Technologies and certain
selling stockholders have agreed to sell shares in the offering. In addition,
Ness Technologies has granted the underwriters a 30-day option to purchase up to
an additional 1,750,800 shares to cover any over-allotments, if any. Ness
Technologies will not receive any of the proceeds from the shares of common
stock sold by the selling stockholders. The common stock has been approved for
quotation on The Nasdaq National Market under the symbol "NSTC" and will begin
trading today. The offering is expected to close on October 4, 2004.
Lehman Brothers Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are
serving as joint book-running managers for the offering, with Friedman,
Billings, Ramsey & Co., Inc. and Piper Jaffray & Co. serving as co-managers. The
offering of the shares is being made solely by means of a prospectus, copies of
which may be obtained from Lehman Brothers Inc., c/o ADP Financial Services,
Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York
11717 or by calling (631) 254-7106; or from Merrill Lynch & Co, 4 World
Financial Center, 250 Vesey Street, New York, New York 10080 or by calling (212)
449-1000.
A registration statement relating to this offering has been filed and been
declared effective by the Securities and Exchange Commission. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such state or
jurisdiction.
ABOUT NESS TECHNOLOGIES
Ness Technologies (www.ness.com) is a global provider of IT services and
end-to-end solutions designed to help clients improve their competitiveness and
efficiency. Ness Technologies' portfolio of solutions and services includes
outsourcing, system integration and application development, software and
consulting, and quality assurance and training. Ness Technologies provides
services to over 500 clients located throughout the world, including a number of
Fortune 1000 and Global 2000 companies, in the commercial, industrial and
government sectors and across numerous vertical markets, including government
and defense, financial services, life sciences and healthcare,
telecommunications and utilities, and independent software vendors. Ness
Technologies employs more than 4,500 people. The Company has operations in the
following 14 countries across North America, Europe and Asia: the United States,
the United Kingdom, Switzerland, the Netherlands, Germany, Canada, Israel,
India, the Czech Republic, the Slovak Republic, Singapore, Malaysia, Japan and
Thailand.
NORTH AMERICAN CONTACT: INTERNATIONAL CONTACT:
ALLAN JORDAN DAVID KANAAN
PHONE: 646 - 284 - 9400 PHONE: + 972 - 3 - 6315166
EMAIL: MEDIA@NESS.COM EMAIL: MEDIA.INT@NESS.COM
