Satyam at top spot for best corporate practices

Mumbai, Apr 3: Satyam Computers today informed the Bombay Stock Exchange (BSE) that they have earned the top spot in two categories in the 2007 Investor Relations Global Rankings by MZ Consult.

The Company was ranked number one in India and among the top 5 in the Asia-Pacific region in the financial disclosure procedures category.

In the corporate governance category, Satyam was ranked number one in the Asia-Pacific region.

The Global IR Rankings are based on a comprehensive methodology developed by MZ Consult, an investor relations and financial communications firm. The ranking system entails extensive research by several respected companies and investors which includes input from audit, corporate governance and legal experts such as KPMG Independent Auditors, Linklaters and JP Morgan, Satyam disclosed.

The annual survey, which began in 1999, now includes 145 companies from 33 countries. The criteria for financial disclosure procedures include operating information, income statement, balance sheet, cash flow analysis etc. Analysis was based primarily on the quality of information provided in participating organizations' quarterly financials and earnings releases, Satyam explained.

''We are pleased to be recognized for the excellence of our financial earnings release and financial disclosure practices,'' Chief Financial Officer (CFO) Srinivas Vadlamani said in a statement.

''Our practices are designed to provide complete, accurate, timely information in clear formats. The Best Corporate Governance Practices ranking highlights the company's capabilities in creating, maintaining, and managing value, while balancing stakeholder interests,'' he added.

UNI