Scandent Solutions Corp. Ltd. Merger Approved

$275MM knowledge-based strategic global outsourcing company will be the largest listed BPO company, and amongst the top 10 IT + BPO companies on the Indian stock exchanges

Bangalore, India – March 16, 2006: Scandent Solutions Corp Ltd. today announced that the merger between Scandent Solutions Corp. Ltd., the information technology solutions firm, and Cambridge Holdings LLC., a knowledge-based business processing outsourcing firm, has been approved by the Honorable High Court of Karnataka. The resultant company, to be named Cambridge Solutions Ltd., will be one of the leading knowledge-based IT and BPO firms with unparalleled expertise in insurance and financial services.

“With this merger, Cambridge Solutions Ltd. will be uniquely positioned to offer clients a synergistic combination of IT and BPO solutions through an integrated global delivery model,” said Chris Sinclair, Executive Chairman and CEO of Cambridge Solutions Ltd. “The larger global footprint and an enhanced portfolio of services combined with a higher combined turnover, gives us the leverage to target a larger base of customers across segments.” The combined turnover of the new entity will be close to US $275 million (or Rs. 1230 crores).

The management team of Cambridge Solutions Ltd. will be led by Chris Sinclair, executive chairman and CEO; Satyen Patel, executive vice chairman; Richard Gros, executive vice president, global human resources; Pradeep Chaudhry, senior vice president/financial controller; and Dilip Keshu, chief strategy and corporate development officer.

The merged company’s international business model will launch the next generation of strategic global outsourcing. A recent study by the Indian National Association of Software and Service Companies (NASSCOM) and McKinsey, estimates that the Indian IT and BPO industry will continue its rapid growth at the rate of 25 percent a year, reaching $300 billion by 2010. Forrester Research predicts that 64 percent of companies going offshore will adopt an indirect engagement approach, hiring firms like Cambridge Solutions which provide all the benefits of off-shoring while minimizing any risks. Cambridge’s combination of knowledge-based process improvement and lowered costs can save companies up to 60 percent.

As a company focused in the Knowledge Process Outsourcing (KPO) space, 93 percent of Cambridge’s services are high-end knowledge-based processes in verticals that include insurance and financial services. With in-depth knowledge of their client’s business, Cambridge’s employees are empowered to make more than $3 billion in payout decisions for clients annually.

With Cambridge’s integrated global delivery network, companies can scale up or down depending on market needs, keeping costs low while achieving higher quality levels in services and productivity. Cambridge is also the outsourcing company to offer a strong presence in the client’s home country. Consequently, communication and efficiency is improved and the risks associated with outsourcing are minimized.

Cambridge Solutions Ltd. will be traded publicly on the Indian stock exchanges and will have revenues of close to $275 million a year, more than 3,500 employees, 82 offices on four continents, and more than 2,000 clients (including Fortune 500 companies). These clients include well-known names such as Bally Total Fitness, Corporate Express and Southwest Airlines; government entities including the U.S. state of Tennessee and Victoria and New South Wales (Australia) Work Cover Authorities; and international financial services companies including MasterCard, Bank of America, Citibank, J. P. Morgan, Lehman Brothers, NASDAQ and SWIFT. Cambridge was recently named one of the top three best performing BPOs by Global Services media and neoIT, a leading offshore outsourcing advisory firm and will be listed in Fortune Magazine on their Offshore 100 list.

An integrated brand and corporate identity program will be launched to communicate Cambridge’s positioning to a wide range of audiences in all corners of the globe. A new logo and marketing materials, international advertising campaign, and global public relations outreach communicates both visually and verbally how Cambridge is the bridge for companies to realize their vision for success. The company’s brand promises to take companies where they need to be by bridging the gap between finite resources and superior performance.

International headquarters of Cambridge Solutions Ltd. will be in Bangalore, India and U.S. headquarters in Greenwich, Connecticut. Regional offices will be in the United Kingdom, India, Australia, and Singapore.

About Cambridge Solutions Ltd.
Cambridge Solutions Ltd. (HQ: Bangalore, India; USHQ: Greenwich, CT.) will be a strategic global outsourcing fir m with deep expertise in:

With offices in the USA, UK, India Singapore, and Australia, Cambridge will serve Fortune 500 firms and international financial services companies. Cambridge was named one of the top three performing BPO companies by Global Services media and neoIT, a leading offshore outsourcing advisory firm, in 2006. For more information, visit: www.cambridgesolutiolnsltd.com.

About Scandent Solutions Corporation Ltd.
Scandent is a broad based IT services company that offers business consulting, application implementation, software engineering, maintenance and support services. It is promoted by Scandent Group, which has in its fold IT (Scandent Solutions) and BPO (Cambridge) companies that collectively employ over 3,500 professionals serving customers on 4 continents through over 70 locations worldwide. Scandent strives to deliver differentiated solutions with impeccable quality.

The IT services of the firm include strategy, application implementation, software engineering and support solutions. BPO services focus on process consulting; transaction processing including mortgage application and renewal; medical billing; finance, accounting, and banking back office support; insurance claims administration and processing; inbound and outbound contact centers to support all of these activities; and other transaction processes that require knowledge-based decision making.

On September 5, 2005, the Board of Directors of Scandent Solutions decided to merge the company with Cambridge Services Holdings LLC. The resultant entity will be renamed as Cambridge Solutions Ltd.

Safe Harbor
Certain statements in this release are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services, including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns in fixed price, fixed time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, etc. The company does not undertake to update any forward looking statement that may be made from time to time by or on behalf of the company.

Scandent Solutions Corp. Ltd.
Satyen Patel, Exec Vice Chairman
Phone: (91)-99456-89631
satyen.patel@scandent.com