IBS Completes Two Large Projects

MOSCOW, July 19, 2011 -

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 href="www.ibs-company.com/">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 href="www.ibsgr.com/">www.ibsgr.com.

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

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