SAN FRANCISCO, California, October 29 /PRNewswire/ --     Red Herring Magazine announced today that Manthan Systems has been short
listed forerunners of the Red Herring 100 Asia 2008 awards. The 100 winners
will be announced at the Red Herring 100 Asia event in Hong Kong, on December
2-3, 2008.

The 200 finalists are based in 16 countries/regions including China,
India, Japan, Singapore, South Korea, Australia and Vietnam. "The 200
finalists we selected from across 16 countries and regions are all excellent
contenders," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "They are
exceptional companies who thrive on innovation and strongly define the
important role of technology in Asia's economy and throughout the world."

"We're happy to be selected among the most innovative technology
companies for the second year in a row," said Manthan CEO, Mr. Atul Jalan.
"With a strong market performance in the last 2 quarters, we have maintained
a growth of over 100% y-o-y. In these difficult times, many of our customers
are realizing the true value of our decision making technologies. It gives us
great pleasure to witness our vision to enable retail decision-making create
transformational results in the way retailers adopt analytics, improve
analytic maturity, and eventually compete better."

The finalists and winning companies will be celebrated at the Red Herring
100 Asia event in Hong Kong, on December 2-3, 2008. Red Herring 100 Asia is
an exclusive event honoring 100 cutting-edge private technology companies
from across the Asia-Pacific region. The event brings together an elite
roster of entrepreneurial and global venture investment firms to showcase
excellence in innovation. It features two days of keynote discussions,
roundtable panels and intimate networking events designed for participants to
make connections and learn what it takes to achieve the best in business and
technology in Asia.

About Manthan Systems

Manthan Systems is a producer of analytic solutions for global retail and
CPG organizations. Manthan's breakthrough solutions help retailers become
more profitable by improving their decision-making process, practices and
technologies. Manthan's portfolio of solutions covers the entire spectrum of
decision-making with cutting edge products in retail business intelligence,
to specialized analytics services for various areas. Manthan's experience
spans a range of retail segments and formats having worked several fortune
500 retailers. For more information, visit http://www.manthansystems.com and
http://www.arc-bi.com.

Mr. Ajith Nayar
    Manager Marketing
    Email - media.contact@manthansystems.com
    Tel No: +91-80-2299-0585
    Fax No: +91-80-2299-0586