Chennai, October 30th, 2008

Dear Customer,

The scope of change taking place within the Financial Services Industry is historical and forcing all of us to continuously improve and innovate. We at Polaris are no different and in order to continue to retain our leadership place in the market, we too are constantly exploring ways to innovate, improve and grow so we can continue to serve you well during these challenging times.

As a key example of our commitment to continued innovation and customer success, I am pleased to announce today that SEEC Inc., an established leader in the composite application and legacy modernization market has merged with Polaris. Together, the two companies will be in a unique position to comprehensively serve a dynamic industry. The combination of Polaris’ Intellect Banking Solution Suite and the SEEC Advantage Library of Business Component Software will create the world's largest library of software components tailored specifically to the Banking, Financial Services and Insurance markets – enabling customers to generate significant outcomes for their business more economically and rapidly than ever before. Additionally, as you know, Polaris pioneered the concept of Progressive Modernization or Smart Legacy Modernization. Together with SEEC’s market leading Application Manager Tool suite, we believe that the leverage we can deliver to our customers in regard to their modernization initiatives is even more compelling.

You may ask yourself what the combination of Polaris and SEEC might mean to you and your business. From an operating and relationship perspective, you should expect the same world class service that Polaris and SEEC are recognized for throughout the industry. We will continue to serve you with the same people and the same focus on results. However, from a business outcome perspective, you should expect a lot more – the largest library in the world of SOA based components used and re-used to create critical composite applications, unparalleled service capabilities, domain expertise and an expanded global footprint. Our singular focus today, and our commitment to you, is delivery of significant Business Outcomes to you through our combined solutions suite and predicated on our COPARIS Framework:

C Providing Better Customer Experience
O Enabling Efficiency in Operations
P Price Performance Ratio
A Providing Quality Analytics
R Identify and Build Risks in the process
I Easy Integration
S Secure

I am excited about our ability to help you deal with the dynamics of the market in the current year and convinced we can positively impact your business with the addition of SEEC. All of us here at Polaris are grateful for your continued trust in us and will continue to focus on building strong relationships and continuing to refine and expand our solutions approach.

I look forward to sharing with you in the coming months our continued plans and solution roadmaps for Polaris and SEEC as well as other initiatives we intend to undertake in an effort to provide additional value. Our Associates will strive hard to continue to know you, understand your needs and explore ways to generate valuable outcomes.

Warm Regards

Arun Jain
Chairman & CEO
Polaris Group