Cambridge & Hyderabad, May 20, 2006— Cambridge Technology Enterprises Limited (CTEL), a leading IT services provider with a focus on solving client’s business problems by orchestrating change efforts and crafting well-designed IT solutions through innovation, globalization, and adoption of emerging technology trends in SOA (Service Oriented Architecture) delivered though their collaborative and CMMi Level 5 matured global delivery processes, today announced that it is targeting enhanced revenues in the fiscal year 2007; growth through expansion of geographic presence in US markets, and investment in India to enhance its global delivery capacities to fuel organic growth and to further lift the growth trajectory - target inorganic growth avenues through strategic acquisitions in India and the US.

CTEL’s key value is in our process of solving transformational business problems, engaging and aligning stakeholders, and breaking the deployment into manageable streams of work, and driving execution in rapid spirals to demonstrate quick and constant stream of wins. CTEL’s proven Executive Workshop model supports rapid business and technical requirement collection, rapid prototyping of alternative solutions, aligning stakeholders, and mapping out high-level deployment plans. CTEL’s technology services leverage its deep expertise in middleware platforms built on the foundation of Service Oriented Architecture which help in simplifying the enterprise’s architecture, save ongoing O&M costs and enhance the organizations’ agility and readiness to globalize their business processes.

CTEL delivers these solutions through its CMMi Level 5 collaborative global delivery model that uses a solution delivery approach with a proven track record of managing business transformation and change successfully through alignment of stakeholders from the business, technology and the end user community. It includes partner technologies and services as necessary and delivers end-to-end solutions to customers through rapid iterative development spirals on-time and on-budget.

The company’s sales and onshore operations are headquartered at Cambridge, Massachusetts, with regional centers in Chicago, Jacksonville (Florida) & Topeka (in Kansas state). Cambridge Technology Enterprises’ value proposition to the global 2000 enterprises and government bodies in the US has received excellent response from the existing & new target customers.

“Our current order book position and the strong sales pipeline built up gives us the confidence to target the steep jump in the level of our operations”, said Mr Ramesh Reddy, CFO of Cambridge Technology Enterprises Limited, “also our survey to identify targets for strategic acquisitions and partnerships has yielded very encouraging results, and we are excited about the possibilities”, he added.

Elaborating on the future plans of the company, Mr Bhaskar Panigrahi, CEO, said “Our goal is to be a leading global provider of comprehensive SOA based solutions and services. To achieve this, we have developed a growth strategy to selectively pursue attractive technology alliances and acquisitions, continue to leverage our strategic alliances to acquire new customers, enhance Processes, Methodologies and Innovation Toolsets, and expand our geographic presence and thereby become the de-facto “go to” partner for any SOA application development".

“The key investments in India would be to build a SOA competency center with refined and matured CMMi Level 5 processes, IP creation through building a reusable services library that would be a key differentiator for the company, and sustaining and enhancing the delivery capacity”, Mr Bhaskar added.

Founders of Cambridge Technology Enterprises Limited have a successful track record of identifying an emerging technology trend ahead of time and capitalizing on its rapid hockey-stick growth wave by founding and building successful technology companies around that trend. Cambridge Technology Partners, I-Cube, Open Environment Corporation, Primix Solutions & C-Bridge Internet Solutions Inc., are a few of the successful companies founded by them. All these companies have made successful IPOs in the US markets and were listed on NASDAQ.

Cambridge Technology Enterprises Limited has been founded to capitalize on the emerging SOA and mobile computing trends, based on a single promise - to deliver the right business results on time and on budget.

Service-Oriented Architecture (SOA) is the latest step in the evolution of software, aiming at greater simplicity, less effort, and more speed through modularity and simplicity. Over time, this evolution has seen the redefinition of "units of work" within software applications from low-level technical items to elements closer to work understood in a business context: from handling internal demands for storage access and output drivers, then later by transaction monitor and database services (commits and so forth), to the new level of addressing business steps or tasks. Per Gartner, by 2006, more than 60 percent of the $527 billion IT professional services market will be based on the exploitation of SOA/Web services standards and technologies. By 2008, systems integrators' and software vendors' Web services and SOA-based investments will simplify many aspects of integration, resulting in major software requirements being met by the assembly of components rather than extensive coding.

About Cambridge Technology Enterprises Inc.
Headquartered at Cambridge, Massachusetts, CTE is ideally positioned at the heart of the technology innovation and thought leadership. This is coupled with the most outstanding partner alliances and matured software development skills and processes appraised at SEI CMMI Level 5 that enables it to implement improved services, and extend them to customers across their value chain.

CTE’s core competency lies in its collaborative global delivery model, a solution delivery approach that aligns business, technical, and user stakeholders; besides partner technologies and services as necessary; and delivers end-to-end solutions on a fixed price and fixed time frame

For more information, please visit www.ctepl.com, or e-mail us at info@ctepl.com.