Other Events
1.	Publication of CEO’s Interview
On December 21, 2006, The Economic Times, Mumbai published an article
regarding WNS (Holdings) Limited (the “Company”), including an interview with
Neeraj Bhargava, Director and Chief Executive Officer of the Company. The
following statements were attributed to Neeraj Bhargava in the interview and
quoted in the article. “We”, “the company” and “WNS” refer to WNS (Holdings)
Limited.

•	We have been growing much faster than the industry, and in the last four
years we have done four acquisitions. We now have a cash reserve of $90
million (raised from the IPO) and we intend to do more acquisitions in the
coming years.

•	The company is well on track to achieve these targets [these targets is
referring to the previous guidance that the Company has given of reaching
slightly over $208 million in revenues for the fiscal year ending March 31,
2007, with net income before amortization of intangible assets and share-based
compensation expense of $30.5 million to $32.5 million].

•	The travel vertical will touch $100 million in revenues by next year.

•	We have some customers in each of these verticals but the practice has not
reached critical size [“these verticals” is referring to the new verticals
like logistics, media and entertainment, manufacturing and retail].

•	Based on the customers, WNS is different from its competitors like Genpact,
Progeon and FirstSource. Otherwise in terms of horizontals, the company
provides transaction processing (60% of revenues), customer support services
(30% of revenues) and analytics (10% of revenues).

* * * * *
The context in which the foregoing statements were made was that the Company
raised $78 million, net of underwriting discounts and commissions and offering
expenses, from the IPO, and the Company’s travel vertical is expected to touch
$100 million in revenues in the future.

* * * * *


2.	David Tibble’s Change of Responsibilities

Effective January 3, 2007, David Tibble, co-founder of the Company and
chairman of WNS UK, resigned as an executive officer of the Company.  Mr.
Tibble will, however, continue to be a non-executive employee of the Company
through March 31, 2007 and support and provide guidance to the Company's sales
staff. Other terms and conditions of Mr. Tibble's employment will remain
unchanged until his retirement.

3.	AVIVA exercises Call Option – Sri Lanka Operations

As previously disclosed, AVIVA, one of our major customers, has a call option
provided under our contract with AVIVA, exercisable at its own discretion on
or after June 30, 2007 by giving 6 months notice to us, requiring us to
transfer to AVIVA our delivery center in Sri Lanka and all our employees
located at such delivery center ("AVIVA Sri Lanka Facility"). On January 1,
2007, AVIVA exercised its call option requiring us to transfer the AVIVA Sri
Lanka Facility to AVIVA effective July 1, 2007. For fiscal 2006, AVIVA Sri
Lanka Facility accounted for 3.32% of our revenue and 4.55% of our revenue
less repair payments. Our contract with AVIVA also grants a call option to
AVIVA, exercisable by December 31, 2007, to require us to transfer the
relevant projects and operations of our larger facilities at Pune to AVIVA. We
have not received any notice from AVIVA with respect to AVIVA’s call option
regarding the larger facilities at Pune.


Special note regarding forward looking statements

This report 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’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.