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<TYPE>EX-99.2
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<FILENAME>f84731a1exv99w2.txt
<DESCRIPTION>EXHIBIT 99.2
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                                                                    EXHIBIT 99.2



                                  [WIPRO LOGO]



FOR IMMEDIATE RELEASE

           WIPRO INCREASES STAKE IN SPECTRAMIND ESERVICES PRIVATE LTD.

BANGALORE, SEPTEMBER 2, 2002: Wipro Limited (NYSE:WIT) announced today that it
had entered into a definitive agreement to acquire the entire equity holding
that is owned by American Express Travel Related Services Company, Inc. in
Spectramind eServices Private Limited, comprised of equity shares and warrants,
for an aggregate consideration of Rs. 170 million ($3.5 million).

As part of the agreement, Wipro will acquire from American Express Travel
Related Services Company, Inc. equity shares representing 2% of the outstanding
equity shares of Spectramind eServices Private Limited, and warrants to purchase
equity shares of the company. These equity shares and rights to purchase equity
shares represent approximately 4.5% of the equity of Spectramind eServices
Private Limited on a fully diluted basis. On completion of the transaction,
Wipro's aggregate interest in the company will be approximately 92% of all
outstanding equity shares, which represents 81% of the company on a fully
diluted basis. Wipro's aggregate interest in Spectramind Limited, a limited
liability company incorporated under the laws of Bermuda and indirect parent of
Spectramind eServices Private Limited, is approximately 89% of the company on a
fully diluted basis.

The closing of the transaction is subject to customary closing conditions and
regulatory approvals.

ABOUT WIPRO LIMITED
Wipro Limited is the first P CMM Level 5 and SEI CMM Level 5 certified IT
Services Company globally. Wipro provides comprehensive IT solutions and
services, including systems integration, Information Systems outsourcing,
package implementation, software application development and maintenance, and
research and development services to corporations globally.

In the Indian market, Wipro is a leader in providing IT solutions and services
for the corporate segment in India offering system integration, network
integration, software solutions and IT services. Wipro also has profitable
presence in niche market segments of consumer products and lighting. In the Asia
Pacific and Middle East markets, Wipro provides IT solutions and services for
global corporations.

Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares
are listed in India on the Stock Exchange - Mumbai, and the National Stock
Exchange, among others.

For more information, please visit our websites at www.wipro.com,
www.wiprocorporate.com and www.wipro.co.in



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ABOUT SPECTRAMIND
Spectramind is one of India's largest third-party BPO services provider with a
wide range of both voice and non-voice based services. Spectramind offers a full
spectrum of end-to-end solutions to global organizations across a wide range of
industries. Spectramind has offices in the U.S. and two state-of-the-art service
facilities in New Delhi and Mumbai, India with a combined capacity of over 5,000
employees. For more information please visit our website at www.spectramind.com



FORWARD LOOKING AND CAUTIONARY STATEMENTS
Certain statements in this release concerning our future growth prospects 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 on 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, the
success of the companies in which Wipro has made strategic investments,
withdrawal of fiscal governmental incentives, political instability, legal
restrictions on raising capital or acquiring companies outside India,
unauthorized use of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our future operating
results are more fully described in our filings with the United States
Securities and Exchange Commission. These filings are available at www.sec.gov.
Wipro may, from time to time, make additional written and oral forward looking
statements, including statements contained in the company's filings with the
Securities and Exchange Commission and our reports to shareholders. Wipro does
not undertake to update any forward-looking statement that may be made from time
to time by or on behalf of the company.

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