ExlService Holdings, Inc. — Director's Dealing 2012

Jan 25, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ExlService Holdings, Inc. (EXLS)
CIK: 0001297989
Period of Report: 2012-01-05

Reporting Person: Talwar Vikram (Director, Chairman)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.001 per share	37500	Direct
Common Stock, par value $0.001 per share	840413	Indirect
Common Stock, par value $0.001 per share	0	Indirect
Common Stock, par value $0.001 per share	130223	Indirect

Footnotes

F1: Owned by Vikram Talwar.

F2: Owned by Vikram Talwar 1994 Trust.

F3: Reflects a distribution of 80,508 shares from the Vikram Talwar 2008 Grantor Retained Annuity Trust 2 pursuant to the trust agreement.

F4: Owned by Vikram Talwar 2009 Grantor Retained Annuity Trust.