CBay Systems Makes Deloitte’s List of 500 Fastest Growing Technology Companies in North America & Maryland Fast 50
Rapid Growth Recognized for the Second Year in a Row

Mumbai, Maharashtra, India, Wednesday, October 19, 2005 -- (Business Wire India)

CBay Systems, a leading provider of healthcare business process outsourcing (BPO) services and the largest provider of Indian transcription technology and services to the US healthcare market today announced that it was again named to the Deloitte Technology Fast 500. The ranking measures the 500 fastest growing technology companies in North America, based on percentage revenue growth over the past five years, during which CBay Systems grew 779 percent.

CBay addresses various issues in the healthcare space, primarily focusing on medical transcription. The company’s HIPAA-compliant solutions leverage Internet technologies to provide integrated dictation capture, transcription and web-based document management services to hospitals, clinics and doctors.

"Making the Deloitte Technology Fast 500 for the second year in a row is commendable in today’s highly competitive technology industry," said Tony Kern, deputy national managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. “Achieving sustained revenue growth of 779 percent over five years is a tremendous achievement. We congratulate CBay Systems on being one of the 500 fastest growing technology companies in North America."

Inclusion on the nation-wide Fast 500 list follows CBay’s recent acknowledgement as a member of the Deloitte Technology Fast 50 in Maryland. This list highlights the 50 fastest growing technology companies in the state of Maryland for 2005.

CBay’s Chairman & CEO, Raman Kumar said, “It is an honor for CBay to be recognized for the second year in a row, but we are especially proud of these awards, as they communicate our explosive growth and ever-increasing customer base, providing concrete evidence of our superior product and commitment to customer service.” He also added, “We have 41 centers in our network in India, employing over 5000 people and the number is increasing every month, to cater to our expanding customer base in the US.”

Fast 500 Selection and Qualifications

The Fast 500 list is compiled from Deloitte’s 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. Entrants must be headquartered in North America and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.

About CBay

CBay Systems is a leading provider of healthcare technology and business process outsourcing (BPO) services and the largest global provider of transcription services to the healthcare industry. CBay’s more than 5,000 highly trained medical language specialists and customer service professionals spread out in 41 production centers situated across 10 states in India serve 650+ health systems, hospitals, clinics and physician practices 24 hours a day, 365 days a year, using HIPAA compliant web-based technologies with a commitment to the highest standards of quality, service and value. CBay is headquartered in Annapolis, Maryland with the Indian corporate office in Mumbai. For more information, visit www.cbaysystems.com.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.