Ranked №2 on list of “Rising Stars”

Montvale, NJ, March 7, 2006 – Luxoft, Inc., Russia’s leading software developer and IT services exporter, announced it was named one of 35 Rising Stars on the 2006 Global Outsourcing 100 list, the first-ever selection of the world's top outsourcing service providers by the International Association of Outsourcing Professionals (IAOP). The list was unveiled at the 2006 Outsourcing World Summit, Feb. 20-22, 2006, in Orlando, FL. 

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. Judges, including outsourcing gurus Jagdish Dala and Michael F. Corbett also looked at management capabilities as reflected in the experience and accomplishments of the business's top leaders and its investment in management systems that ensure outsourcing success.

“IAOP is pleased to recognize Luxoft as one of the world’s top outsourcing service providers for 2006,” said Corbett, IAOP Executive Director. “By making the list of Rising Stars, Luxoft has demonstrated a track record of growth and vision.”

Earlier this month, Luxoft was also named to the Global Services 100 list of the world’s most innovative business and technology service providers by Global Services magazine. In recent months, Luxoft was the only Russian company selected as a finalist for several industry awards, including the National Outsourcing Association’s Offshoring Operation of the Year, and three Best of Class Categories awards at Gartner’s Global Sourcing Summit. In January, based on ranking input from Gartner Inc., Luxoft was named by BusinessWeek as the top emerging outsourcing provider among the companies from Russia and Eastern Europe .

“Luxoft is proud of our track record and the wide industry recognition of the value we bring to our clients. We put significant effort in developing rigorous discipline and processes, understanding our clients’ goals and needs, and delivering high quality, industrial-strength software applications and solutions,” said Dmitry Loschinin, President and CEO, Luxoft. “But we would not be successful without the great people who work at Luxoft. We devote a lot of resources to hiring and growing the best people in the industry, and have a uniquely high staff retention rate, which benefits our clients and leads to extremely high client retention rate of 90 percent.”

For Sergey Yaskevich, Director of IBM Global Services in Russia, Luxoft’s track record has been a key to the growth of the relationship with IBM. “The quality of Luxoft’s work has been outstanding by every measure,” said Yaskevich. “Luxoft personnel has been committed to the success of IBM and has consistently delivered high-quality work. It is this kind of long-term partnership that we look for in an outsourcing relationship.”

About Luxoft

Luxoft, a global IT company, is Russia’s leading software developer and IT services exporter. The company, which was founded in 2000 and is a member of the IBS Group, has operations in the US, UK, Ukraine and Russia.

Leveraging a unique, proven offshore engagement model, Luxoft provides a full range of custom software development services for IT solutions on various platforms and technologies. 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 offshore development centers in Moscow, St. Petersburg, Dubna, Omsk and Kiev. Luxoft enjoys long-term business relationships with clients across IT, Manufacturing, Energy, Aviation, Finance and Government sectors including some of the best-known global Fortune 500 corporations such as Boeing, Deutsche Bank, IBM, and Dell. Luxoft also works closely with many mid-size growth companies.