AppLabs Named as one of the Nation’s “50 Fastest-Growing Asian American Businesses” by the US Pan Asian American Chamber of Commerce Education Foundation

May 27, 2008

Hyderabad, India; London, UK; Philadelphia, Lindon USA; Monday, May 27, 2008: AppLabs, the world’s largest independent testing, quality management and certification solutions company, has been named by the US Pan Asian American Chamber of Commerce Education Foundation (USPAACC-EF) as one of its 50 Fastest-Growing Asian American Businesses. The official announcement will be made during the 23rd Anniversary CelebrAsian ‘08 Annual National Business Opportunity Conference, on May 27-29 at the Hilton Washington hotel in Washington, DC. A special presentation will take place at The White House on May 28 and at the Excellence Awards Gala Dinner at the Hilton Washington the same evening.

Commenting on the award Makarand Teje, President and CEO, AppLabs said “We are indeed honored and delighted to be named among the 50 Fastest-Growing Asian American businesses. This recognition is a testament to our dynamic entrepreneurial spirit, thought leadership in the software testing space and hard work of all AppLabs employees.”

“As world’s fastest growing independent software testing company, this award further strengthens our leadership position in the industry, and I am really looking forward to receiving this award on behalf of AppLabs.” said Doc Parghi, Senior Vice President of North America, AppLabs.

“We congratulate our 50 Fastest-Growing Asian American Businesses for generating robust growth over the years—yet another indicator that through innovation, hard work and ingenuity, Asian Americans are at the forefront as engines of growth in our national economy,” said USPAACC-EF National President & CEO Susan Au Allen.

To qualify for the ranking, companies must be owned by one or more Asian Americans (at least 51% ownership), among other eligibility criteria. Based on percentage revenue growth over three years, selection was determined through direct applications and nominations. All finalists and winners were independently verified by the accounting and consulting firm of BDO Seidman, LLP.

The Conference connects the largest number of Asian American suppliers with buyers from Fortune 500 corporations, the Federal government and small/minority-owned business community. Through pre-scheduled one-on-one matchmaking meetings, participants learn about contract opportunities in the era of globalization and outsourcing, different procurement trends and requirements to enhance competitiveness in the marketplace.

About USPAACC:

The US Pan Asian American Chamber of Commerce EF (USPAACC-EF) was formed in 1984 as a national, non-profit organization representing all Asian Americans and Asian American-related groups in business. USPAACC-EF promotes nurtures and propels economic growth by opening doors to contract, educational and professional opportunities for Asian Americans and their business partners in corporate America, the federal government, and the small and minority business community in the U.S. & Asia.

Headquartered in Washington, DC, USPAACC-EF has a nationwide reach through Regional Chapters in Northern and Southern California, New York, Texas, Illinois, Georgia, and Washington, DC-Maryland-Virginia in the National Capital Area.


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