International Association of Outsourcing Professionals Names Luxoft as Rising Star in 2007 Global Outsourcing 100 and a Top Service Provider in Western Europe

New York and Moscow, April 24, 2007 – Luxoft, Russia’s largest provider of high-end IT outsourcing services to clients such as Deutsche Bank, IBM, UBS, T-Mobile and Dell, today announced it was named a Rising Star in the 2007 Global Outsourcing 100. In making the annual ranking of the top outsourcing service providers by the International Association of Outsourcing Professionals (IAOP) for the second year in a row, Luxoft earned the top spot among Russian firms, placing fifth among the Rising Stars.

In addition to being included in the 2007 Global Outsourcing 100 and recognized as a Rising Star, Luxoft figured prominently in the 25 sub-lists that focus on geography, capabilities, and expertise. Luxoft was among the IAOP’s top 13 firms and the only Russian company in the areas of:

• Financial Services – Banking
• Discrete Manufacturing
• Technology (Hardware and Software)
• Product Research, Development, Manufacturing
• Information and Communications Technology Management
• Western Europe

Selection to the Global Outsourcing 100 was based on a variety of factors including size, revenue growth, customer experience as demonstrated through the value being created at the company's top customers, depth and breadth of competencies as demonstrated through industry recognition, relevant certifications, and investment in the development of people, processes, and technologies.

“Getting selected for the Global Outsourcing 100 is not easy,” said Jag Dalal, Managing Director, Thought Leadership, IAOP and chairman of the judges' panel. “The application process was rigorous as was the competition among the applicants. The judging was based on a set of measurable standards as well as evaluation by a panel of industry recognized leaders in outsourcing. Every company that made the list should be proud of its accomplishment. These are the organizations businesses should carefully consider during their selection and due diligence process.”

“By making this list for the second year in a row, Luxoft takes its place along side the world’s top global sourcing providers,” said Dmitry Loschinin, CEO and President of Luxoft. “Deep vertical industry knowledge, efficiency in complex outsourcing engagements, and record high employee retention of 94% combined with flexible delivery models and outstanding customer satisfaction make Luxoft the leading choice for high-end IT outsourcing partnerships.”

About Luxoft

Luxoft, founded in 2000, is Russia’s largest provider of high-end IT out¬sourcing services with operations in the US, Canada, UK, Ukraine and the world’s largest delivery capabilities in Russia and CIS.

Luxoft works with global enterprises and independent software vendors (ISVs) enjoying long-term relationships with industry leaders such as Deutsche Bank, IBM, UBS, T-Mobile and Dell.

Luxoft's software development processes meet the highest quality standards, and the company was the first in Europe to achieve Level 5 CMMI quality certification. Luxoft runs research and development centers in Moscow, St. Petersburg, Dubna and Omsk in Russia as well as centers in Kiev and Odessa, Ukraine and Vancouver, Canada.

Luxoft was named the world's #1 IT Outsourcing Product Engineering vendor in the 2006 Black Book of Outsourcing and won the National Outsourcing Association's "Financial Outsourcing Project of the Year 2006" award. The company has also been recently recognized by BusinessWeek as the top emerging outsourcing provider in Russia and Eastern Europe and was the only IT Company to be recognized with a Russia's Best Employer 2006 awards given by the Russian Chamber of Commerce and other leading Russian employment and business agencies.

About IAOP

The International Association of Outsourcing Professionals (IAOP), with 40,000 corporate, professional, and associate members worldwide, is leading the effort to transform the world of business through outsourcing. Its client-side members are, on average, responsible for $60 million per year of outsourcing spending with some overseeing outsourcing programs in the billions of dollars.

Through professional and ethical standards, the Certified Outsourcing Professional (COP) Program, educational programs including The Outsourcing World Summit®, and recognitions such as The Outsourcing Hall of Fame and The Global Outsourcing 100, IAOP is advancing one of the 21st century’s most important new management fields - outsourcing. To learn more, visit www.outsourcingprofessional.org.

About The Global Outsourcing 100

The Global Outsourcing 100, produced annually by the International Association of Outsourcing Professionals (IAOP), is devoted to featuring the best of today's leading outsourcing service providers and tomorrow's rising stars. Along with its publication by IAOP, the list will appear in the special advertising feature produced by IAOP in the April 30, 2007 FORTUNE 500 issue of FORTUNE® magazine. Companies must demonstrate excellence in categories such as size and growth, customer experience, depth and breadth of competencies, and management capabilities. Because of the rigorous application and judging process employ, The Global Outsourcing 100 defines the standard for excellence in outsourcing service delivery.

The 2007 Global Outsourcing 100 appears in the Fortune 500 issue of Fortune Magazine’s April 30 special advertising feature produced by the IAOP.