Majesco Moves Stock Exchange Listing to NASDAQ

Majesco joins the world’s most powerful and influential cloud
platform brands on NASDAQ

MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco (NYSE American: MJCO), a global provider of cloud insurance
software solutions for insurance business transformation, today
announced that its board of directors has approved the switching of the
listing of its common stock from the New York Stock Exchange – American
to The NASDAQ Stock Market LLC®. Effective February 26, 2019,
the company is expected to commence trading on the Nasdaq Global Stock
Market under the symbol NASDAQ: MJCO.

“As a software company that moves fast and thrives on change, we’re
excited about the transfer to NASDAQ, home to many of the world’s
leading cloud providers,” said Majesco CEO Adam Elster. “Majesco’s
mission is to build the future of insurance by providing cutting-edge
technology, expertise and leadership to help insurers deliver value and
innovation as quickly as their business and customers demand. Listing
our common stock on NASDAQ is another important step in our plan to grow
our cloud business and create sustained value for our customers and
shareholders.”

Majesco recently reported third
quarter financial results
, reflecting the growing success of its
cloud strategy with a 51% increase in cloud revenues year-over-year for
the quarter, now representing 42% of the company’s total revenue.

About Majesco

Insurance business transformation is a journey of change and
revitalization, a renaissance of Insurance. Approximately 160 insurance
companies worldwide in P&C, L&A and Group/ Employee Benefits are
transforming their businesses with Majesco’s solutions. Our market
leading software, consulting and services uniquely underpin the entire
insurance value chain and are designed to empower insurers with the
agility, innovation and speed needed to meet their transformation
opportunities. Majesco’s solutions include policy management, new
business / underwriting, rating, billing, claims management,
distribution management, BI/ analytics, predictive modeling, digital
platform with mobile and portal, testing services, cloud services,
bureau and content services, transformation services, consulting
services and more. For more details on Majesco, please visit www.majesco.com.

Cautionary Language Concerning Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act. These forward-looking statements are made on the
basis of the current beliefs, expectations and assumptions of
management, are not guarantees of performance and are subject to
significant risks and uncertainty. These forward-looking statements
should, therefore, be considered in light of various important factors,
including those set forth in Majesco’s reports that it files from time
to time with the Securities and Exchange Commission and which you should
review, including those statements under “Item 1A – Risk Factors” in
Majesco’s Annual Report on Form 10-K.

Important factors that could cause actual results to differ materially
from those described in forward-looking statements contained in this
press release include, but are not limited to: integration risks;
changes in economic conditions, political conditions, trade protection
measures, licensing requirements and tax matters; technology development
risks; intellectual property rights risks; competition risks; additional
scrutiny and increased expenses as a result of being a public company;
the financial condition, financing requirements, prospects and cash flow
of Majesco; loss of strategic relationships; changes in laws or
regulations affecting the insurance industry in particular; restrictions
on immigration; the ability and cost of retaining and recruiting key
personnel; the ability to attract new clients and retain them and the
risk of loss of large customers; continued compliance with evolving
laws; customer data and cybersecurity risk; and Majesco’s ability to
raise capital to fund future growth.

These forward-looking statements should not be relied upon as
predictions of future events and Majesco cannot assure you that the
events or circumstances discussed or reflected in these statements will
be achieved or will occur. If such forward-looking statements prove to
be inaccurate, the inaccuracy may be material. You should not regard
these statements as a representation or warranty by Majesco or any other
person that we will achieve our objectives and plans in any specified
timeframe, or at all. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this presentation. Majesco disclaims any obligation to publicly update
or release any revisions to these forward-looking statements, whether as
a result of new information, future events or otherwise, after the date
of this press release or to reflect the occurrence of unanticipated
events, except as required by law.

Contacts

Corporate
Ann Massey
SVP-Finance
(973) 461-5190
ann.massey@majesco.com

Media
Tara Dilzer Alexander
Director, Marketing
Communications and Creative Services
(718) 916-6873
tara.dilzeralexander@majesco.com

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