Outsourcing Leader Luxoft Takes Top 3 Vendor Position for Emerging European Market Category in Global Services 100 Ranking

New York & Moscow, Feb 1, 2007 — Adding to its strong list of industry accolades, Luxoft -- one of Russia’s leading providers of IT outsourcing services to companies like IBM, Dell, Deutsche Bank, T-Mobile and others -- announced today it has been named again to the 2007 “Global Services 100” list and this year took the number three slot in the Top 10 Emerging European Market providers category.

The ranking, compiled by Global Services Magazine and consulting firm neoIT recognizes the world’s most innovative business and technology service providers and was announced at the Global Services Conference 2007 in New York City on January 31, 2007. Over 140 organizations from more then 18 countries were evaluated in the areas of operations, service capabilities, customer relations, and human resources.

“Luxoft’s goal is to make outsourcing a winning investment for our clients by providing the highest quality people and technical skills, strong global coverage and a laser focus on delivering high value results in complex engagements,” said Dmitry Loschinin, President and CEO, Luxoft. “It is a great honor to have our efforts recognized by our industry peers and thought leaders with the Global Services 100 ranking and to be named one of the top three providers in the Emerging European Market category.”

The Global Services 100 distinction comes on the heels of Luxoft winning the National Outsourcing Association’s “Financial Outsourcing Project of the Year 2006” for its work with Deutsche Bank and receiving a “Best Employer of Russia” 2006 award from the Russian Chamber of Commerce and Industry.

Luxoft has also been recently called out by BusinessWeek as a top outsourcing provider in Russia and Eastern Europe and NeoIT recently released a report predicting that the Russian IT Outsourcing market -- of which Luxoft is a key driver -- will grow by 40 – 50% this year.

About Luxoft

Luxoft, founded in 2000, is a global software developer and IT services exporter with operations in the US, Canada, UK, Ukraine and Russia. Luxoft has the world’s largest delivery capabilities in Russia and CIS.

Luxoft provides a full range of custom software development services and enjoys long-term relationships with clients including some of the best-known global business leaders, such as Boeing, Deutsche Bank, IBM and Dell. Luxoft also works closely with many mid-size growth companies and independent software vendors (ISVs).

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 Russian development centers in Moscow, St. Petersburg, Dubna and Omsk as well as centers in Kiev and Odessa, Ukraine and Vancouver, Canada.

Luxoft won the National Outsourcing Association’s “Financial Outsourcing Project of the Year 2006” for its work with Deutsche Bank and the company has recently been recognized by BusinessWeek as a top emerging outsourcing provider in Russia and Eastern Europe. Luxoft was also ranked as the top IT services company on the Rising Star list in the IAOP’s Global Outsourcing 100 and was featured in Global Services Magazine’s Global Services 100 which recognizes the world’s most innovative business and technology service providers. Luxoft was also 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.