Cognizant Technology Solutions Corporation To Join The NASDAQ-100 Index Beginning December 29, 2004

The Class A common stock of Cognizant Technology Solutions Corporation (NASDAQ: CTSH) of Teaneck, New Jersey, will become a compo nent of the NASDAQ-100 Index® (NASDAQ: NDX), effective at the beginning of trading Wednesday, December 29, 2004. It will replace PeopleSoft, Inc.'s common stock (NASDAQ: PSFT), which is expected to be acquired by Oracle Corporation (NASDAQ: ORCL) on or after that date. The Class A common stock of Cognizant will also be included in the NASDAQ-100 Index Tracking StockSM (NASDAQ: QQQQ).

With a market capitalization of approximately $5.3 billion, Cognizant Technology Solutions Corporation delivers full life cycle solutions to complex application development, maintenance, and re-engineering problems through its on-site/off-shore model. The Company's core competencies include data warehousing, Web enabling, Internet, object-oriented development, and legacy platforms.¹

The NASDAQ-100 Index, launched in January 1985, is one of the most widely followed benchmarks in the world. The NASDAQ-100 Index Tracking Stock represents ownership in the NASDAQ-100 Trust. The Trust holds a portfolio of equity securities that compose the NASDAQ-100 Index and aims to provide investment results that generally correspond with the performance of the Index.

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¹Source: Bloomberg