X0202 3 2006-10-19 0 0001297989 ExlService Holdings, Inc. EXLS 0001372181 FINANCIAL TECHNOLOGY VENTURES (Q), L.P. 555 CALIFORNIA STREET, SUITE 2900 SAN FRANCISCO CA 94104 0 0 1 1 See Footnote 2 Common Stock, par value $0.001 per share 1694278 D In connection with the consummation by ExlService Holdings, Inc. (the "Company") of its initial public offering, the Company will effect a two for one stock split (the "Stock Split") of all of its outstanding shares of common stock. The amounts in this Form 3 reflect such Stock Split. (2) The Reporting Person may be deemed a member of a Section 13(d) group that owns more than 10% of the Company's common stock. The Reporting Person disclaims such group membership, and this report shall not be deemed an admission that the reporting person is a member of Section 13(d) group for purposes of Section 16 or for any other purpose. (3) Financial Technology Ventures (Q), L.P., By: Financial Technology Management, LLC, its general partner. /s/ Richard N. Garman (3) 2006-10-19