Luxoft Wins Telecommunications Outsourcing Award at the Fifth Annual NOA Awards Ceremony

New York, NY; October 30, 2008 - Luxoft, a global provider of high-end application and product development services, today announced it has won the National Outsourcing Association’s award for Telecommunications Outsourcing Project of the Year at the NOA awards ceremony held on Thursday, October 23, 2008.

The NOA awards aim to reward organizations for success in outsourcing projects, as well as raising awareness for the importance of best practices in outsourcing. The awards acknowledge achievements in IT outsourcing, business process outsourcing, as well as sector specific achievements in telecommunications, finance and utilities.

Luxoft won the award for its work with Aepona, a leading telecommunications software provider. Luxoft worked with the company to develop a leading-edge ‘mash-up’ portal application – the ‘Network Gateway’, which simplifies the delivery of new and existing applications for telecommunications companies. The Gateway also works to future-proof providers for the next generation of network technologies and to ease the process of network upgrade, expansion and reconfiguration.

Martyn Hart, chairman of the NOA commented, “At the NOA, we strive to raise awareness of best practices in the outsourcing industry – the awards are core to this strategy. Our winners and the runners-up have ably demonstrated excellence in outsourcing and have highlighted the importance of best practice and standards being met in the industry. These achievements make an excellent contribution to the Body of Outsourcing Knowledge (the BOOK) that the NOA holds on behalf of the industry.”

Luxoft’s telecom practice provides a wide spectrum of software development services to various industry players from North America and Europe ranging from independent software vendors (ISVs), to mobile operators and ISPs, as well as service and content providers. Luxoft’s telecom team is comprised of more than 700 engineers with extensive expertise in R&D, product engineering, custom application development, testing, and is located in three development centers in Kiev (Ukraine), Bucharest (Romania) and St. Petersburg (Russia). Luxoft focus on development of innovative solutions based on the most recent technologies.

Among Luxoft’s clients are the leading companies of the telecom industry, such as AePONA, Nortel Networks, Avaya, Alcatel Lucent and Trapeze Networks.

Dmitry Loschinin, CEO of Luxoft, commented: “We’re very happy to have gained recognition for our work with Aepona. Having strong expertise in vertical markets is important for vendors who want to develop strategic relationships with their partners. This award recognises our telecommunications experience and ability to deliver complex, mission-critical software solutions to our clients.”

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, Deutsche Bank, UBS, Dell, IBM, 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.

Luxoft is the recipient of the 2007 Frost & Sullivan Global Outsourcing Growth Excellence & Customer Value Leadership Award, as well as the Applied Innovation Award from the IAOP and Wipro, ITAA and Forbes (together with Deutsche Bank). For more information visit: www.luxoft.com.

About the National Outsourcing Association (NOA)
The NOA is the UK’s only outsourcing trade association. Advocating best practice, the NOA represents outsourcing end users, vendors and other companies which support outsourcing, such as legal firms, consultancies and HR. The NOA is involved in research, events, education and public affairs. The vast quantity of information that the NOA has collected is referred to as BOOK (the Body Of Outsourcing Knowledge).

For more information on the NOA please go to: www.noa.co.uk