Sify Reports NASDAQ Staff Deficiency Letter

  Sify Reports NASDAQ Staff Deficiency Letter

Business Wire

CHENNAI, India -- February 25, 2013

Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in Managed
Enterprise, Network and IT Services in India with growing global delivery
capabilities (the “Company”), today announced that on February 20, 2013, it
received a NASDAQ staff deficiency letter (the “NASDAQ Letter”) indicating
that the Company fails to comply with Listing Rule 5605(c)(2) which requires a
listed company to have an audit committee comprised of at least three
independent members.

As disclosed on the Company’s report on Form 6-K filed with the United States
Securities and Exchange Commission on January 31, 2013, Mr. S. R. Sukumara, an
independent director and audit committee member, passed away on January 26,
2013. Since Mr. Sukumara’s passing, the Company’s audit committee has been
comprised of two independent members.

The NASDAQ Letter provides that, consistent with NASDAQ Listing Rule
5605(c)(4), NASDAQ will grant the Company the following cure period to regain
compliance with the audit committee membership requirements: (i) until the
earlier of the Company’s next annual shareholders’ meeting or January 26,
2014, or (ii) if the Company’s next annual meeting of shareholders is held
before July 25, 2013, until July 25, 2013.

The Company is in the process of identifying an independent director to be
appointed to the Company’s audit committee in order to regain compliance with
NASDAQ Listing Rule 5605 prior to the expiration of the cure period granted by

About Sify Technologies

Sify is among the largest integrated Managed Network, IT and Software services
companies in India, offering end-to-end solutions with a comprehensive range
of products delivered over a common telecom data network infrastructure
reaching more than 1000 cities and towns in India.

A significant part of the company’s revenue is derived from Corporate
Enterprise Services, which include Network and IT services, Connectivity,
Security, Network management services, Enterprise applications, Hosting and
Remote Infrastructure Management Services. A varied product portfolio at
multiple price points allows Sify to also cater to the burgeoning demands of
the SMB/SOHO community and the retail consumer; much of it on the cloud

Sify is a recognized ISO 9001:2008 certified service provider for network
operations, data center operations and customer support, and for provisioning
of VPNs, Internet bandwidth, VoIP solutions and integrated security solutions,
and ISO / IEC 20000 - 1:2005 and ISO/IEC 27001:2005 certified for Internet
Data Center operations. Sify has also built a credible reputation in the
emerging Cloud Computing market and is today, regarded as a domain expert.
Sify has licenses to operate NLD (National Long Distance) and ILD
(International Long Distance) services and offers VoIP backhaul to long
distance subscriber telephony services. With the Sify Cable landing station
and the partnerships inked with several cable companies globally, Sify in
present in almost all the spheres of the ICT eco system.

The company has an expanding base of Managed Services customers, both in India
and overseas, and is also India’s first enterprise managed services provider
to launch a Security Operations Center (SOC)to deliver managed security

Sify Software develops applications and offers services to improve business
efficiencies of its current clients and prospective client bases. Sify also
offers services in the specialized domains of eLearning for-profit,
not-for-profit and government institutions both in India and globally. The
business also operates two of the most popular portals in India, and

For more information about Sify, visit

Forward Looking Statements

This press release contains forward-looking statements within the meaning of
Section27A of the Securities Act of 1933, as amended, and Section21E of the
Securities Exchange Act of 1934, as amended. The forward-looking statements
contained herein are subject to risks and uncertainties that could cause
actual results to differ materially from those reflected in the
forward-looking statements. Sify undertakes no duty to update any
forward-looking statements.

For a discussion of the risks associated with Sify’s business, please see the
discussion under the caption “Risk Factors” in the company’s Annual Report on
Form 20-F for the year ended March 31, 2012, which has been filed with the
United States Securities and Exchange Commission and is available by accessing
the database maintained by the SEC at, and Sify’s other reports
filed with the SEC.


For further information, please contact:
Sify Technologies Limited
Mr. Praveen Krishna
Investor Relations & Corporate Communications
+91 44 22540777 (extn.2055)
Grayling Investor Relations
Ms. Trúc Nguyen (ext. 418)
Mr. Christopher Chu (ext. 426)
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