IBS Completes Two Large Projects

IBS Completes Two Large Projects

MOSCOW, July 19, 2011/PRNewswire-FirstCall/ --

    IBS IT Services ("IBS"), a subsidiary of IBS Group, announces completion
of two major projects that include deployment of an integrated budgeting
system across subsidiary offices of Polyus Gold, and development of a system
of websites for Russia's statistical agency, Rosstat.

    In June 2011, IBS completed the first stage of an integrated budgeting
system for Polyus Gold, Russia's leading gold producer and one of the
world's largest gold mining companies, with market capitalization of about
US$12 billion and 2010 revenues of US$1.75 billion.

    Polyus Gold's cross-border production management required the
development of an integrated budgeting system, and IBS was engaged to
implement a solution based on IBM Cognus TM1 after competitive bidding
process. As part of the project, IBS built a standard budgeting model for a
mining enterprise and a model to consolidate budgetary data at the corporate
headquarters level.

    Also in June 2011, IBS developed a system of websites for Rosstat, a
federal executive agency responsible for collecting, processing, and
publishing official statistics on social, economic, demographic,
environmental, and other developments in Russia.

    In order to expand the capabilities of Rosstat's website, IBS upgraded
the hardware and software platforms including a migration to IBM WebSphere
Portal Server 6.1. The existing software and contents were ported to new
more powerful hardware. This provided for improved website processing and
search times, a launch of value-added services and applications, and an
overall enhancement of user interface.

    IBS IT Services, a member of IBS Group, is the leader in the Russian IT
and consulting market. It is part of IBS Group Holding Limited (IBSG), along
with Luxoft. Its core lines of business span management consulting,
implementation of business applications, IT outsourcing, and IT
infrastructure. IBS headcount is about 2,700 employees including over 1,500
certified consultants and professionals. IBS customer base includes 34 of
Russia's top 50 companies. For more information on IBS, please visit
http://www.ibs-company.com.

    IBS Group is a leading software development and IT services provider in
Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT
Services, it offers a wide variety of information technology services, such
as software development, IT outsourcing, business and IT consulting,
business applications implementation. IBS Group is headquartered in Russia
and has business operations in Russia, Canada, Germany, Romania, Poland,
Switzerland, the UK, Ukraine, the USA, Vietnam and Singapore. IBS Group
employs more than 7,200 people worldwide. According to the preliminary
unaudited accounts for financial year 2010, IBS Group reported US GAAP
revenues of US$656m.

    IBS Group's Global Depositary Receipts are listed on the Regulated
Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg:
IBSG:GR; Reuters: IBSGq.DE). IBS Group is majority-owned by management with
portfolio investors holding 35% of the Group's share capital. For more
information on IBS Group, please visit http://www.ibsgr.com.

   
    Dmitry Muzicenko
    tel: +7-495-967-8000
    fax: +7-495-967-8099
    cel: +7-910-451-9302

Source: IBS Group Holding Limited

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