New York and Moscow, June 10, 2009 – Luxoft, a global provider of high-end application and product development services, today announced that it is the #1 IT Outsourcing Service Provider in Eastern and Central Europe in the 2008 Black Book of Outsourcing.

In addition, company was ranked No. 2 in the “Top Ten Software Testing and Quality Assurance” category and No. 3 in the “Top Ten Telecommunication Industry” category of this prestigious award program.

Developed in 2004, Black Book of Outsourcing annual survey is recognized as the only independent industry standard for customer satisfaction in the global services industry. Over half of the responses are gathered from CXO-level and governance respondents.

For eight weeks each spring, the Brown-Wilson Group (recently acquired by market research company Datamonitor) – which authors The Black Book of Outsourcing – surveys outsourcing users and C-level officers to gain a buy-side decision-maker perspective on the global services industry. After a stringent external auditing process, the client experiences responses of nearly 24,000 buyer executives determined the final ranking.

“This award carries a great significance for Luxoft, as it represents a direct voice from our customers on our ability to successfully manage every aspect of outsourcing relationships and to provide technology-driven business solutions that meet and exceed our client’s strategic needs.” said Dmitry Loschinin, President & CEO, Luxoft.

Earlier this year Luxoft was ranked #1 European ITO Leader in the 2009 “Global Services 100” ranking of most innovative technology services companies, conducted by Global Services magazine and consulting firm neoIT. Luxoft has also enhanced its range of services offered in the telecom sector by opening a global Network Operations Center (LuxNOC) in Bucharest, Romania in May of this year.

About Black Book of Outsourcing
The Black Book of Outsourcing is an annual, independent, non biased ranking of outsourcing vendors by users, clients and analysts that ranks global software companies. The ranking is compiled by Brown & Wilson Group, Inc. and is based on a number of factors, including client satisfaction and relationships, innovation, and implementation to help the global outsourcing industry.

About Luxoft
Luxoft, a member of the IBS Group, is an emerging global leader in application and product engineering outsourcing services for enterprise IT organizations and software vendors. Luxoft builds lasting partnerships with its clients, such as Boeing, Deutsche Bank, UBS, Dell, IBM, Sabre and other global leaders, based on the culture of engineering excellence, innovation, and deep domain expertise. Luxoft offers global delivery capability through its network of state-of-the-art delivery centers in North America, Central & Eastern Europe, and Asia. Luxoft’s customers benefit from the right mix of technology skills, industry knowledge, best-of-breed processes and methodologies, and a choice

Luxoft, Russia’s largest provider of high-end IT outsourcing services to clients such as Deutsche Bank, IBM, UBS, T-Mobile, and Dell announced today that it is the winner of Frost & Sullivan’s 2007 Global Outsourcing Growth Excellence & Customer Value Leadership Award and a finalist in the Outsourcing Excellence Awards sponsored by Everest Group and Forbes Magazine.