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ICICI Limited

ICICI Infotech Announces Completion of Acquisition of Command Systems, Inc.

MUMBAI, India & FARMINGTON, Conn.--March 21, 2001--ICICI Infotech Inc., the
U.S. subsidiary of ICICI Infotech Services Ltd., the information technology
subsidiary of ICICI Ltd. (NYSE: IC ), today announced that its -- wholly owned
subsidiary ICICI Acquisition Corporation has merged with and into Command
Systems, Inc. Command Systems is now an indirect wholly owned subsidiary of
ICICI Infotech Inc.

As previously announced, ICICI Acquisition Corporation had acquired
approximately 97% of Command Systems' outstanding stock in a tender offer that
was completed at 12:00 midnight on Tuesday, March 13, 2001. The merger was
completed pursuant to the Agreement and Plan of Merger previously entered into
among ICICI Infotech Inc., ICICI Acquisition Corporation, and Command Systems.
The remaining shareholders of Command Systems will receive the same
consideration of $5.00 per share as was received by the shareholders who
tendered in the offer. As a result of the merger, Command Systems' shares are
no longer publicly traded.

On January 26, 2001, ICICI Infotech Inc. originally announced the agreement to
have ICICI Acquisition Corporation acquire all outstanding shares of Command
Systems common stock for $5.00 per share in cash, or a total of approximately
$40 million.

Commenting on Command Systems' merger with ICICI Acquisition Corporation,
Edward G. Caputo, President and CEO of Command Systems, said, "Command Systems
was founded almost sixteen years ago with one major objective: to build a
high-quality company that provides superior services to our customers through
an organization for which our employees could be proud to work. Our customer
loyalty is a testament to the high standards of service that have been central
to our business philosophy."

"The merger with ICICI Acquisition Corporation represents a further
strengthening of Command Systems' high-quality standards by joining with an
organization, which represents the same ideals, but also has the strength and
resources of an $18 billion company. We believe that through this merger,
Command Systems will continue to provide the superior services for which our
customers and employees have always strived."

ICICI Infotech Services Ltd., a leading software solutions and services
provider based in India, was established in October 1993 to provide IT services
to the ICICI group of companies. Since September 1999, the Company has forayed
into outside markets, both domestic and international. The Company presently
focuses on software consultancy and development primarily involving banking and
financial services, IT enabled services and IT infrastructure, and
communications. ICICI Infotech Services Ltd. was awarded the ISO 9001 and the
IQ Net certifications by Standards Australia for its IT enabled services
business. ICICI Infotech Services Ltd. currently employs about 950
professionals, of which approximately 120 are employed in the United States.

Command Systems, whose main office is in Farmington, Connecticut, was founded
in 1985 and provides a wide range of information technology solutions and
services. The Command Systems' Multi-Site Integrated Solutions Strategy
provides multi-site, ISO 9001 certified application development and maintenance
services to customers in support of evolving e-business processes and
information technology requirements, including: project management, design, and
architecture; e-business development; database services; consulting; and
application maintenance outsourcing. Command Systems maintains offices in New
York, Boston, Hartford, Stamford, and an Offshore Technology Resource Center in
Bangalore, India.





The statements contained in this press release that are not purely historical
are forward-looking statements within the meaning of the Safe Harbor Provisions
of the Private Securities Litigation Reform Act of 1995. All forward-looking
statements included in this press release are based upon information available
to the companies as of the date hereof, and the companies assume no obligation
to update any such forward-looking statements.

March 21, 2001

Contact:

MacKenzie Partners, Inc., New York
Steven C. Balet, 212/929-5500

END