FOR IMMEDIATE RELEASE: [GRAPHIC OMITTED]
Ness Technologies Announces Exercise
of Over-Allotment Option in Full
Hackensack, NJ - October 12, 2004 - Ness Technologies, Inc. (NASDAQ: NSTC),
today announced that the underwriters of its initial public offering of common
stock have exercised in full their option to purchase an additional 1,750,800
shares of Ness Technologies common stock to cover over-allotments. The
additional shares were issued at the initial public offering price of $12.00 per
share. Ness Technologies received all of the net proceeds from the issuance of
the additional shares in the amount of $19,538,928.
The exercise of the over-allotment increased the size of the offering to
13,422,800 shares of common stock, of which 8,303,574 were newly issued shares
issued by the Company and 5,119,226 were existing shares offered by selling
shareholders.
Lehman Brothers Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated
acted as the lead managers of the offering with Friedman, Billings, Ramsey &
Co., Inc. and Piper Jaffray & Co. serving as co-managers. Copies of the final
prospectus relating to the offering 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 these securities was filed with and
declared effective by the Securities and Exchange Commission on September 29,
2004. The offering of these securities is made only by means of a prospectus.
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
