Luxoft Increases Co-Operation with Deutsche Bank to Exploit Their Successful CRM Solution

Business Wire, March 15, 2007

Joint initiative to commercialise innovative 'Client First' tool

HANNOVER, Germany and MOSCOW -- Luxoft, Russia's largest provider of high-end IT out-sourcing services, today announced that it is extending its co-operation with Deutsche Bank, one of the world's leading investment banks.

Luxoft President and CEO Dmitry Loschinin and Deutsche Bank's Daniel Marovitz, COO of Technology for Deutsche's Global Banking Division, made the announcement during CeBIT's German-Russian IT Summit, which promotes the cooperation between German and CIS countries (Russia, Ukraine, Belarus).

Luxoft will provide development resources in Russia and the Ukraine to enhance and further innovate Client First, a cutting-edge Client Relationship Management (CRM) package. Moreover, based on Deutsche Bank's experience with Client First, the two companies believe that the product has wide potential in the business community and will therefore work together to market it to organizations worldwide.

Client First provides an easy-to-use, real-time management of each client relationship by aggregating and centralizing data from many internal and external sources. The system currently serves over 5,000 Deutsche Bank employees across Europe, North America and Asia Pacific.

Client First is now a world-class CRM platform used in a number of different businesses across the bank. Luxoft's solution offered not only cost savings but also a pragmatic yet creative approach - a combination that was key to the success of the project.

Daniel Marovitz underlined the importance of an effective CRM tool: "Managing customer relationships is at the heart of our business, so a superior system is crucial. Our Luxoft team has continually shown that they are as committed to our success as we are, and that they are prepared to lead rather than simply follow. I believe we can now build on this partnership by jointly marketing Client First to other businesses."

Dmitry Loschinin emphasized that working with Deutsche Bank has been a truly collaborative partnership and that the commercialization of Client First is an exciting move: "We are taking an almost unprecedented step by working with Deutsche to sell a product that was specifically developed for just one client. We are confident that we can maintain the winning formula that has made the Deutsche-Luxoft team so successful."

About Luxoft

Luxoft, founded in 2000, is Russia's largest provider of high-end IT out-sourcing services with operations in the US, Canada, UK, Ukraine and the world's largest delivery capabilities in Russia and CIS.

Luxoft works with global enterprises and independent software vendors (ISVs) enjoying long-term relationships with industry leaders such as Boeing, Deutsche Bank, IBM, UBS, T-Mobile and Dell.

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

Luxoft was named the world's #1 IT Outsourcing Product Engineering vendor in the 2006 Black Book of Outsourcing and won the National Outsourcing Association's "Financial Outsourcing Project of the Year 2006" award. The company has also been recently recognized by Business Week as the top emerging outsourcing provider in Russia and Eastern Europe and was 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.