Udayan Maroo, former CFO, Reliance Communications, joins advisory panel of Octaware Technologies

Mr. Maroo's insights will help shape Octaware's key financial strategies. End Quote

(1888PressRelease) January 22, 2015 - Mr. Udayan Maroo who till recently was working as CFO of the Rs. 22,000Cr Reliance Communications, joins Octaware's Advisory board. In addition to routine CFO responsibilities, Mr. Maroo was involved with Investor Relations and restructuring of Group companies. He has been featured in the "The 50 CFOs to watch" worldwide in 2012. Prior to his 3-plus year stint as a CFO, Mr. Maroo was a Finance Director and Company Secretary of Gharda Chemicals Ltd. for nearly 3 decades.

"We are extremely pleased that Mr. Maroo has agreed to join our advisory board," said Aslam Khan, President of Octaware Technologies. "As a senior Chartered Accountant and a Company Secretary in senior corporate roles, he comes with extensive experience in finance and corporate laws, He understands the challenges and pressures faced by finance executives in Industry. Given the increased competition of the IT world, having professionals like Mr. Maroo on board of our advisory panel will help Octaware Technologies in key financial strategies."

"I am very excited to join the advisory board of Octaware Technologies comprising of industry veterans", said Mr. Maroo, expressing his pleasure. He further added, "I believe, Octaware with its' young team of technopreneurs exemplifies the broad-based strategic company and potential for immense growth. As a member of Octaware's advisory panel, I hope to help the young team of entrepreneurs in further developing their potential and their drive to achieve results."

About Mr. Udayan Maroo:
Mr. Udayan Maroo is a respected Finance professional with nearly 4 decades of experience. Mr. Maroo commenced his career at PC Hansotia and Co. (Deloitte, Huskins and Sells) with whom he worked for 6 years, before a very successful 28 year stint with Gharda Chemicals. At Gharda, Mr. Maroo was intimately involved in successfully scaling up this technocrat led company to sales of over Rs. 1000 Cr. Mr. Maroo has to his credit, the tax-beneficial establishment and responsibility of operations of overseas branches and companies, valuation and structuring of IPR rights, successful negotiation of sale of a large division to a multi-national company, raising foreign currency loans, hedging of forex risks and establishment of an EOU. Several of these initiatives were done for the first time ever in an Indian context. Besides actively pursuing his career, he is an adjunct faculty at the prestigious Management School S.P. Jain Institute of Management and Research.

Mr. Maroo was appointed as a member of two high power committees formed by the Institute of Chartered Accountants of India.

About Octaware:
Octaware Technologies is a software development, enterprise solutions and consulting firm known for excellent project management, exceeding expectations of customers and delivering high quality solutions. With offices in Mumbai, Seattle, Dubai, Doha, Riyadh, Singapore, Lagos, Harare and development centers in Mumbai and Pune, Octaware is dedicated to help clients improve their business productivity by building and implementing high-quality, comprehensive and cost-effective solutions to meet the client's business requirements.

Contacts
Sujatha Rajan - Corporate Communications
Octaware Technologies Pvt. Ltd.
(M) : +91-8898068677
(E) : sujatha ( @ ) octaware dot com dot

Corporate Office Address:
204, Timmy Arcade, Makwana Road, Marol,
Andheri (East), Mumbai, Maharashtra,
India. 400059
Website: www.octaware.com.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "anticipate", "expect", "will" and similar expressions generally identify forward-looking statements. These statements reflect our current expectations and are subject to a number of risks and uncertainties including, but not limited to, change in technology and general market conditions. Actual results and developments may differ materially from those contemplated by these statements. Due to the many risks and uncertainties, Octaware cannot assure that the forward-looking statements contained in this press release will be realized.

The above-noted options may or may not be exercised. The factors identified above are not intended to represent a complete list of the factors that could affect the Company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update forward-looking statements, except where required by law.

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