-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SLm9hxXSGIpxJIcMQ6XVis7YGtgQXULUIaiz5+teNrM98LPOY2aVHY0RvqLP6bf0
 +p6d0MvnDYm+u7L9bPYJ/g==

<SEC-DOCUMENT>0001145549-07-001459.txt : 20070817
<SEC-HEADER>0001145549-07-001459.hdr.sgml : 20070817
<ACCEPTANCE-DATETIME>20070817061600
ACCESSION NUMBER:		0001145549-07-001459
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070817
FILED AS OF DATE:		20070817
DATE AS OF CHANGE:		20070817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WNS (HOLDINGS) LTD
		CENTRAL INDEX KEY:			0001356570
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				330996780
		STATE OF INCORPORATION:			XX
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32945
		FILM NUMBER:		071063825

	BUSINESS ADDRESS:	
		STREET 1:		GATE 4, GODREJ & BOYCE COMPLEX
		STREET 2:		PIROJSHANAGAR, VIKHROLI (W)
		CITY:			MUMBAI
		STATE:			K7
		ZIP:			400 079
		BUSINESS PHONE:		91-22-55976100

	MAIL ADDRESS:	
		STREET 1:		GATE 4, GODREJ & BOYCE COMPLEX
		STREET 2:		PIROJSHANAGAR, VIKHROLI (W)
		CITY:			MUMBAI
		STATE:			K7
		ZIP:			400 079
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>u93091e6vk.htm
<DESCRIPTION>WNS (HOLDINGS) LIMITED
<TEXT>
<HTML>
<HEAD>
<TITLE>WNS (Holdings) Limited</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 6pt"><B>Form&nbsp;6-K</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Report of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16 of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the Month of August&nbsp;2007</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Commission File Number 001&#151;32945</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>WNS (HOLDINGS)&nbsp;LIMITED</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><I>(Exact name of registrant as specified in the charter)</I></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not Applicable</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><I>(Translation of Registrant&#146;s name into English)</I></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Jersey, Channel Islands</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><I>(Jurisdiction of incorporation or organization)</I></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Gate 4, Godrej &#038; Boyce Complex<BR>
Pirojshanagar, Vikroli (W)<BR>
Mumbai 400 079, India<BR>
&#043;91-22-6797-6100</B><BR>
<I>(Address of principal executive offices)</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Form&nbsp;20-F&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1):&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7):&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the Registrant by furnishing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under
the Securities Exchange Act of 1934.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Yes&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to registrant in connection with Rule
12g3-2(b): <B>Not applicable.</B>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">









<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="u93091exv99w1.htm">Ex-99.1 Press release of WNS (Holdings) Limited dated August 16, 2007</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company is incorporating by reference the information and exhibit set forth in this Form 6-K
into its registration statement on Form S-8 (Registration No: 333-136168).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Other Events</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On August&nbsp;16, 2007, WNS (Holdings) Limited issued a press release announcing that it has been
advised by First Magnus Financial Corporation, one of its customers in the mortgage business, that
they expect to stop substantially all work WNS does for them and that this event is expected to
have a material adverse impact on WNS&#146; financial performance and previously announced guidance.
A copy of the press release dated August&nbsp;16, 2007 is attached hereto as Exhibit&nbsp;99.1.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit</B>
</DIV>


<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">99.1</TD>
    <TD>&nbsp;</TD>
    <TD>Press release of WNS (Holdings) Limited dated August&nbsp;16, 2007.</TD>
</TR>
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunder duly authorized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Date: August&nbsp;17, 2007
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>WNS (HOLDINGS)&nbsp;LIMITED</B><BR>
<BR>
&nbsp;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000" align="left">/s/  Zubin Dubash
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>Name:</TD>
    <TD valign="top">&nbsp;&nbsp;</TD>
    <TD align="left">Zubin Dubash&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>Title:</TD>
    <TD valign="top">&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">99.1</TD>
    <TD>&nbsp;</TD>
    <TD>Press release of WNS (Holdings) Limited dated August&nbsp;16, 2007.</TD>
</TR>
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>u93091exv99w1.htm
<DESCRIPTION>EX-99.1 PRESS RELEASE OF WNS (HOLDINGS) LIMITED DATED AUGUST 16, 2007
<TEXT>
<HTML>
<HEAD>
<TITLE>Ex-99.1 Press release</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">For Immediate Release
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U><B>Exhibit&nbsp;99.1</B></U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="u93091u9309100.gif" alt="(WNS LOGO)">
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CONTACT:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><I>Investors:</I></U></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jay Venkateswaran</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior VP &#151; Investor Relations</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">WNS (Holdings) Limited</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#043;1 212 599 6960</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ir@wnsgs.com</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><I>Media</I></U><I>:</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Al Bellenchia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Torrenzano Group</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#043;1 212 681 1700 ext. 156</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">abellenchia@torrenzano.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>WNS Announcement on First Magnus</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>MUMBAI, INDIA, and NEW YORK, August&nbsp;16, 2007 &#151; </B>WNS (Holdings) Limited (NYSE: WNS), a leading
provider of offshore business process outsourcing (BPO)&nbsp;services announced today that following its
earnings call earlier today it was verbally advised by First Magnus Financial Corporation, one of
its customers in the mortgage business, that they expect to stop substantially all work WNS does
for them. First Magnus was expected to account for approximately 5% of WNS&#146;s revenue less repair
payments for the period between 1 July&nbsp;2007 and 31 March&nbsp;2008. WNS expects that this event will
have a material adverse impact on its financial performance and the guidance it had issued earlier
today. WNS is in the process of evaluating the impact
of these events in detail and will release revised guidance as soon as
possible.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>About WNS</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">WNS is a leading provider of offshore business process outsourcing, or BPO, services. We provide
comprehensive data, voice and analytical services that are underpinned by our expertise in our
target industry sectors. We transfer the execution of the business processes of our clients, which
are typically companies located in Europe and North America, to our delivery centers located
primarily in India. We provide high quality execution of client processes, monitor these processes
against multiple performance metrics, and seek to improve them on an ongoing basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our ADSs are listed on the New York Stock Exchange. For more information, please visit our website
at www.wnsgs.com.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Safe Harbor Statement under the provisions of the United States Private Securities Litigation
Reform Act of 1995 </U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This news release contains forward-looking statements, as defined in the safe harbor provisions of
the U.S. Private Securities Litigation Reform Act of 1995. These statements involve a number of
risks, uncertainties and other factors that could cause actual results to differ materially from
those that may be projected by these forward looking statements. These risks and uncertainties
include but are not limited to a slowdown in the U.S. and Indian economies and in the sectors in
which our clients are based, a slowdown in the BPO and IT sectors world-wide, competition, the
success or failure of our past and future acquisitions, attracting, recruiting and retaining highly
skilled employees, technology, legal and regulatory policy as well as other risks detailed in our
reports filed with the U.S. Securities and Exchange Commission. These filings are available at
www.sec.gov. We may, from time to time, make additional written and oral forward-looking
statements, including statements contained in our filings with the Securities and Exchange
Commission and our reports to shareholders. You are cautioned not to place undue reliance on these
forward-looking statements, which reflect management&#146;s current analysis of future events. We
undertake no obligation to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;#
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>u93091u9309100.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 u93091u9309100.gif
M1TE&.#EAR@!"`/<``/31JEE96>^P;>_O[]'1T<O+RW5U=:ZNKOSX\O+!C>VH
M7NVL:,7%Q?;V]O&Z?1,3$Z*BHOGY^?&T>/W\^NVJ8-;6UOOU[3$Q,?GSZ/GH
MU/;9N>ZM9?.]B/SV[_KZ^O#P\(B(B/"T=/?BR?+)FO+`B?+&E/&]A>RC5)F9
MF?;8M9*2DO32K+6UM>N<2*6EI??>P>^R<.>"&PL*"_;5L?76M.F-+7AX>)Z>
MGOGFT>J90>V<3(6%A>=\$5U=7>^U=B4E)>3DY/3T].RA4O/%D?74K1\?'[Z^
MOFQL;-W=W5965NF1-/3-HI:6EFEI:?"T;O+R\L_/S_W[^.'AX:NKJ\G(R,'!
MP=_?W[JZNK&QLNN:1&!@8/7.I>F0,>;FYD9&1GU\?,S,S&5E9?;<OOC@Q3T]
M/?GDS"`@(/CBR-C8V/KNX>J6/?KPXO&\@OG>P_/+GNF.*NB()?OV[O?AQTY.
M3OSRY@,#`XN+B^NA4NCHZ.^X?"@H*/KJV-K:VNZL8^VF6OS[]_/*G%%14?GQ
MY#HZ.OOQY4E(2.KJZOGDSBXN+OORY_CKV^RD5N/CXX"`@*BHJ/[]_,+"PF-C
M8_/-G^B&(!D9&$%!0?SU[.J4.H.#@_STZ_GKV>F.+^N=2O+#D.WM[?"W>>VG
M7/GRYO;:O/GLW.R?3/CGTNRE6/SY\^^V>/CCS.N@3NF3.//'EIR<G.B+*?WV
M[?+`AOKLW/"Z@+R\O.N=1NVG6.J60/CNW_3)F.=^%.ZO:NVK8_OX\?ONW_?J
MV.R:1NJ8/_/0JO+.I/3'E_WY]OGCRNZF6>NB52,C(_S\_/W]_?[^_I^?G_[^
M_>RE6OKKVO&X?1<6%^J4,^^S<U145/"O:NR?4?OT[/CMWNND5OW]^_KMW?GE
MST1#1+^_OX&!@?3'F2LK*_SPXG]_?MO;V_33K#<W-P<'!_74K_WZ]O70J.R:
M26%A8?OSZ:FIJ?SU[@\/#^F1+>N;1YR;G.RD6?3,H)N;FQL;&QP<''%Q<6]P
M;TM+2V]O;WM[>P```/___R'Y!```````+`````#*`$(```C_`/\)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,B1#R1O($%2&:!PV0<P(5,R`+)P`)@J
M*:M8>=3EHTHI#AL0@!E29@2$#:RPZ-=-SP-__LZ9&13&'@-#R3A*G5J0VCFD
M6*/9>Y3PPPUD6,/*X,<RH0HS89,&8(3I:EAX@2HT-&*N3M@Z6I`<K*"/C(RT
M@.]18]:%JF&.9`#[&Z3WH+(*210C130E883$@+L1T*)8!K7&"ID5`8RL`,%'
M:`)(7NV/D@V<AV-7W&<W;333!QL<^+$ZV@Z2!QF$4WP$"&?%T;XH6RB:-&Z!
M$(:S7OT@#)6?LK,_Y`</<!T6"`>H__@K648DN0>;IY6APM-Q[Y7(+4^H/FQI
M@<J0Z)D^_<&1"O-I)R!]:`&V`T)2A,%:'5Y4<5`$!AR55A%5?,`.=?QTL0Q]
MHZ5UWS]`1,(??]%\@\>`*!Y40%V`];!A0<L4L!]K>KASD!74D!<6&0,\H:!D
M=>B!0@,<.O>/!TQ(F%8=,CR`SP\_%!&-#+4!AH@['J2HI4!()*$C5F0$85`$
M6+A%G0H'>3-(E5@U\<\`[W56"!I%>FA:%W,H=LX/27S!!!98M-)($F:PB14\
M_7BRI98?]!,-8'J@1Y`AC?!7QSC8#:2,(WH8Z@\$;\:IV`/,9%I0?5C=1\6C
M@`W"#&@")?]C!0@_>%I'#WPLFJ('K7085C25$;1,!7GRUP.L_S0``B6`G:,7
MG-/500T841F$*E+W'>#I.1"8JJDA_=RCV"!7Z)JB-]+=A4FU`C7``F_\F0,>
M05+T\.5D`D$['3Q?*&JMKU@50<4_*BAF!K(%01&(8OC,8RZ*4IBCF!;`"60(
M"$IBY:D9K;#[3P65>&J`0!9:VHTW'@MTK3]FF%8P8-%0$:!!#>SPP#DXXRR#
M'J`^+&`$7GAZ`9T#)6@F4@]DC'0_3Q`$2;H:NR"0CR.>D^',_ZQ\GSV2&2"%
MMP09$8D77A1"=A*8$.#S@$UT9]O``U7@169!KQ>`A@-!4&!8E.#_IB]_B##S
MP8LJ`XRM:5-XZL\]!EQ!CB%!1$!XLDA`8;GE5C2`]=J',;.WQLP,M`P#^"S9
M!":&UT%&!=4N@PFK8>U3UM_3G3.'-Z9J;1H4\"XI0SAHN\``$H80R;G/8$@,
M6"`#->".H3+8`4FQ8>&#A?$#1.)V6-]42SM2,H@+&#Q-$%TX8"W_$X0!1WOW
M@![=L`/"`6B(>?RB4JA&6I8@&@#8`Q"PPA'N=0XF?$`@!"A$^_QAHWQ=*"WX
MT$(1A.8"XV7-<"PSS>@N,")_R(`2B`C`#EB`A">D['ZR"0(F](0394`!,V$Q
M0X7.`AA]E(4%%_"4I#X@HK3\0`7YV-ZA_R)!@&KI3B`10,&]^`,/<S3A!@2P
M(`IEDPP7+-`?4@O"%,"2%G-TP0,L&$2KU!8!)GP.*=&PWYMZ&)8?.((*U`M+
M$;[!B//9:2">.`*S.HB5WP4`!7S@WQ1CPX`]IL5->!@'`9,0%0($H'TRF$4R
M#*$/I?EC#@3YGC]^<(`@N$"(6+G`%'YRQ*+UHU-\U-@/#``%00Z2*D!`A&*Z
MT0`T],!0OA$($&Q@20.2(Q!+M$,F1;7)`SQF#IZ2`3OD4LJBH<`+5XS6/?*!
MALF]DB,1B"-6(J4FP(2C7,EJ1>^P$@8I)`]Z\\H7,7]0F0\X0I:`^:$GFCF0
M#T#"!H6X1S17@_\,%53LFE*QPZ@.P`S8@2\0H&'`W-)"!@*XX(S^N("D0A7/
MRB@#"#L`95*Z<05Z$B0(5%#!$>80#G@HSCMD`"=`I0(&6X'``+C\P@$%@H<F
MH.\*1]!H)/XY@`>V,5@>(``9/`4/&S`!@Q\""A"@,`40A($,/[@9:V1@`RFN
M-",?L*0_`@!#K/S@!H+T0%O2`@]FA"PMYP"!QWA8T8$$80?B2\L@^!'75#UG
M(1Y@A!%NT(]`(&*)6"E$':_*D4HH)AQ*4YV#"(("0R*E#D<8)]*P4)#LM74@
M<"0J(C2:5(=XH`M4@$`D)(N5<$!A<X2M"!,40]0P_/,?5QBJ;1;X@Q/_#;.M
MF1`#,9S'0>\8K``$0`$(,'&$2`0B``<H200,X0@R+#`:![!J:BM2A7W^:@=8
M<Z1UL>*%E&F2G?_(@"[DT`P\&`"PBBD")!J!#TI$`QXRP%D@I&N0+GS!H$BS
MQTRG>Q$DE(X_X"T(I?`KF488Y+O)384:?&`)9<!QNTBAT(\@J-*$(.F_87D`
M$U[+WXE\H+?3N0#<".*!&Y!6,0V\K0^36PQ7*$$,__@`"L)Q4OM0H1^=^0+8
M"O($.S@6:3?8;X<IX@%J\$<&24#8,JI@V'TM-I,^]6IERO"&7(2@%\E``S^T
M:B<62`81,E,(&+P$L^L-V2++6.UT*+$#-1*D_Z;\N0`4#,)6'T[Y#3S8Q`@0
M$`$6R)8UI<&#5L]!C0*<4"!=&$==4T6%0Y_Y(02(EAY<@-IDV`&]6`E$KBH;
M9:2`E\H\R`4%,@"B+_S8.<F8,%FIP0)O)0,(C:"Q8LB`!&L^&B(-('!8SM&-
MNQ9D"E`##%4+4]EUWID'/)A$`A#@@2K,P;KWJ0(&P1>.0&#"$5-P!PKX009*
M*.X<!MCQK1^B3;+N-"%@*'=8[M$*(:NSK:!&MCPT$(4/,.'$=HWQ$6I\CF@@
MXP?(P(=)5W,!RHZ[(B^3##Y4X.C^:10KB("$*]^]XG_$FP<Q\,,8)F"(<7#9
M'_=1!CGVD<K>-,*V!_^?B#<P#6:%!,$>,U+,'*IYX'4F]^(\@(,)$O$/!NPC
MFNG[AS)FH>M4GB,)U$HY12H`3^]X@<,D9H'R%-,(0QSDNY5I,;*1G0M2O.!-
M]Y:,P)IG@X=W\!R%8`%]E=Z0!AQ!,M'`!$-2(YES7.'005"UIX^]=8P+8`_+
MZ,*^#PN&@I!C$)@&T@]V4!:V4V0*EJR#.7R=FV\`-LD(\8`-(%4NG",;#K"P
M1,]C'I8`(&P`#!@$A#W=B"@Z_B+D8(;L9X\%=R<D"%"`P`UF[X("?`"U`L$]
M"F9_`$9$)1/ED(3RER\),71`Z%W`PNQE?P5#`/\?4MC!/BZ@!V28`1_>-\/_
M!;S0CP*L_?7HWT@$I$"`E'B#`5]+O_SG3__ZV__^^,\_0(4AC':,X1E1D'X3
M0`AEL`;TEPE;P`$*.`RD1A`#B`!<`1'K(``:,`D"0`<.T0$TL`6$\`@3L`5$
M\`H2@0"B0`(*2`(:@``&,0&6$(`3T0$C<`F=0'][<`>N``I]8`(X4!!$L`MC
MX((/H0,2T`'_!X0+$06LH`1+@``:(`]#('H100<.``><T`<P,`,JR(.RP',3
M,8`%2(.@L`"BUPS;L`0KD`%$D`!^X`H44`H94`+0X``:T`$O0`*=``/5`'@(
MD`+3$`*;(`'B,`3H(`<)``MLX`/UT`&QX`8D8`)L_T`$F2`0O2`$6;`%IO`)
M>P``T/`);)`&?U`.]2`0@``("%`/G\`!I2`04J@&&C`08T`"L.``<C@&%+`*
ML*`)(M`)<2@&[3`#G9"'LO`)GR``"6`)IR`+LD`"-%`"8I`!)N`#LE`.UZ`!
M)O`)K+`'X[8'?K`(&C`&>Y`!#J``GZ``NK`(-5`+*>`#G*`+)Z``<D`"7$`!
M"@`'"1`%`)`#IE`-?U@&.9`'2R`-JZ``+:`&9P`(Z^@'J\`&A"`043`"7,`)
MP"`&+R`$?O`)G)`'"``#%"`0?:`*[3"/"]"`4J@$G3`&W)`));`)M.`':J`+
M2V`,7.`#?.@'/D`+H#`&T_]0`_+`#3%0`P+I"B,P`3&@!`I@`ED`"R6@!!N`
M"IU``Z;0CCD`#MEX!Y-P"9>`"IJ0`J0`!QN``[C@#*F`#JN@"RN0`)O`"K*@
M!!/P#V'8`360`P(AA/P8C9P`#8^@`35``WF@"YI``[N@#@2A":`P"0XP"@FP
M"*GP"$20"^VP`'W`D2W0`0M`"NV@#:KH`)-0`VI``:*0`)R0`J<`#3K0!L/0
M!X0P`Z0@"S/P"4J`#@*P"18P`9.P`!VP#;8@#U'``YW("EF`"R3`"0"``[<`
M#:M``H`@!`F0C:8@!.60`F6``#@PF"1P"L-`#ZFP!)MP`M,@`$*`#@D`E_]0
M#;3_F0O3$)<2,)?EH`HD\`]M4`,:0`+.L`0)L`LIX(`F``Q$L`9Y0`'8R`T\
MX`N."9F2^9@#(85<8`(I,`:)T`G9\'4<,)JX8)I;8`L*$`+<J0$"H`H"$0^T
M.0%W8`L(P`-+\`HCT`)$H)7'L``CH`L^"0,*`)BWM@>@L`&]T`$(@``T(`1P
ML`NE,`QW(`;JH`2LD`BGT`X($`RD(!!.0)N30`&O8`F_<)XY$(WJR9ZNH`$K
M<`EPD`6=P(4#,01"H`'M8`*F<`:GD`(Q$`HP<`(WZ@>1N0`;0!!2>`GET`$=
MD`Y#0`LS\`\/V@:XH`":``"+0`/O<`J6L`8"<`("(0T+_Y`&Q;`*"S`!/+`%
M,"@/1-`!H^`&69`%DYF"'7`*V;@(7#H"PK":NB``+9``"7`)>4`#"G`,)0``
MK,`-(T`+2DJ;%'"6G<`%(7`&P$"EZ]D&<+`"6[`*7+`!`-`.DP.F*;@"G"`+
M*[`!)_`(G;`*2[`$7/"F<5J@#E`#3C`"]?".>LJGH[D$JN`&*:``"^`&`.`&
MAR``P+"H=U`"QK`*,":B)&H+":`!6U`/BW`")``,,```(_!UM]8+TR`/0G`,
MNX`*J$`$J>`#J%`/SO"CKGH'BQ`"A^`&NB`0"6`""%`,"B`$BT`*)'`(&S`"
M8@`#;O`/AV`-*5`".;"I)[`"Z?]`$.7@`W(0!8F0!PN["%_'#7YP!\Y`"@+`
M"R8`"P21":S`":1P#*!0#[@@`%_G!@)P"&6PG7*P!`IP!_3@`ZE``AOY#])0
M`\>@``"PEK:`#AW0@[@`"(MP#(L`"'M@`B>P"(L``.,V`8*@"'Y["VL@"*>@
M#.V0!KS0#J.``,T0!SA0!A;P"'&``0)A`1C`%0B@"!:P!HD0!1A@`;P@"''P
M#^F`#;?P"3!0"NC@![)@@`-Q"J%P"LWP#U&`BZ$P$!@@`H*``8+P"!@0N@/Q
M")_[MW$0!Z_[#Q8@".GP")D;!=K0#B)0"G$P`>T@N?_`!:#@"P2A"!#XN:=P
M"J4@`MM'(!`3L`:I@`U_H'\;T0$DH`#HH`X"P`K7\$IJ``//A[X/,P9L(`$2
B,`S/<$T)``#$8+\"/,`$7,`&?,`(G,`*O,`,W,`$$1``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
