Luxoft Honored with the Frost & Sullivan 2011 European Telematics and Infotainment Competitive Strategy Innovation Award

Moscow, New York, September 29, 2011 – Luxoft, a member of IBS Group and a leading global provider of advanced application and product development services, today announced that it has been honored with the Frost & Sullivan 2011 European Telematics and Infotainment Competitive Strategy Innovation Award.

Frost & Sullivan Award is presented to an organization that has excelled in uniqueness of strategy, market position and the ability to leverage competitive intelligence. Luxoft was recognized for its high-end software development work with the industry leaders including Harman, Elektrobit (EB) Wireless and NIS GLONASS as well as its vast experience in conceiving of, designing, testing and implementing new automotive infotainment innovations.

“Luxoft and its three major offerings—DroidBUZZ, DashCore and the upcoming apps connectivity solution for in-vehicle and mobile devices—are directly addressing major challenges that prevail in the current European automotive infotainment connectivity market. These include the need to keep passengers entertained without causing driver distractions, the ability to display important information on the dashboard and the freedom to integrate smartphones in a safe manner inside the car,” said Praveen Chandrasekar, Global Program Manager - Connectivity & Interiors, Telematics & ITS, Frost & Sullivan. “All of these innovations prove that Luxoft has shown immense understanding of the needs of global automotive manufacturers by responding with technically superior solutions.”

Luxoft’s growing global market dominance was also a key evaluative factor in its selection as the 2011 Competitive Strategy Innovation Award winner. With automotive sector revenue growth of nearly 40 percent in 2010 compared to 2009, Luxoft’s high-end software development expertise and broad service offerings clearly differentiates the company from the competition. Few others offer the depth and breadth of expertise as Luxoft, specifically in the areas of navigation, rear seat entertainment, head units, telematics services, as well as Android and Linux-based infotainment platform development.

“The automotive industry is fast-approaching a critical junction, where consumer demand for in-car connectivity options is far outpacing the rate at which automotive manufacturers are able to bring new innovations to market,” said Dmitry Loschinin, president and CEO, Luxoft. “Luxoft has invested heavily in its ability to serve as a strategic partner to help car manufacturers and suppliers bridge that gap. By offering high-end technology services that span geographies and cater to multiple areas of telematics and infotainment needs, companies can faster build, test and implement innovative solutions for the next generation of connected cars.”

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About the Award

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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, IBM, Harman, Avaya, Alstom, 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 of engagement models.

About IBS Group

IBS Group is a leading software development and IT services provider in Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development, IT outsourcing, business and IT consulting, business applications implementation. IBS Group is headquartered in Russia and has business operations in Russia, Canada, Germany, Romania, Poland, Switzerland, the UK, Ukraine, the USA, Vietnam and Singapore. IBS Group employs more than 7,600 people worldwide. In 2010 financial year, IBS Group reported US GAAP revenues of US$656mm.

IBS Group’s Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.DE). IBS Group is majority-owned by management with portfolio investors holding 35% of the Group’s share capital.