Second Consecutive Year on List Recognizes Luxoft’s Ability to Create Value for Clients, Stakeholders

Montvale, NJ, Feb. 13, 2006 – Luxoft, Inc., Russia’s leading software developer and IT services exporter, was named to the 2006 “Global Services 100” list of the world’s most innovative business and technology service providers by Global Services magazine.  The company was ranked as one of the “Top 5 to Watch in Central & Eastern Europe.”  This is Luxoft’s second consecutive year on the list, known last year as the Offshore 100.
Conducted by Global Services magazine and consulting firm neoIT, the study identified companies that demonstrated “excellence in the way they run their operations, address client needs through service offerings, manage their client relationships and manage their human capital,” said Rusty Weston, editor-in-chief, Global Services. Criteria included size, profitability, a multishore presence, demonstrated capabilities and staff training or certifications – but “what distinguishes GS100 companies is their ability to effectively integrate and combine these capabilities to create value for their clients and stakeholders,” Weston added.
In recent months, Luxoft was a finalist for several industry awards, including the Offshoring Operation of the Year at the National Outsourcing Awards, and was the only Russian company selected for three “Best of Class Categories” at Gartner’s Global Sourcing Summit. Recently, Business Week ranked Luxoft as the top Russian emerging outsourcing provider, based on input from Gartner Inc.
“We’re honored to be continuously recognized by Global Sources and Business Week as one of the world’s top outsourcing providers based on Luxoft’s ability to deliver high quality, industrial-strength software applications and solutions,” said Dmitry Loschinin, President and CEO, Luxoft.  “We are focusing on strategic initiatives, building client partnerships, regardless of their business sizes or industry affiliation. Our offerings include the Luxoft Product Development & Maintenance (PDM) service, which brings to ISVs and product companies quality processes, Agile methodologies, latest technologies, and delivery models; and LUXguide, our innovative and flexible engagement framework that accelerates project start up while enabling customers to avoid typical mistakes and ‘hidden costs.’”
For Luxoft, the past year has seen significant milestones.  Since 2000, Luxoft has averaged 100 percent revenue growth year over year.  With more than 1,500 employees across five offshore development centers, including a new facility in Kiev, Ukraine, Luxoft is among Eastern Europe’s largest players in the offshore software development market.  (In terms of valuation, Luxoft generates over 25 percent of the aggregate revenue from the 10 largest Russian software development services exporters.) 
About Luxoft
Luxoft, a global IT company, is Russia’s leading software developer and IT services exporter.  The company, which was founded in 2000, 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, Citibank, and Dell.  Luxoft also works closely with many mid-size growth companies.