IBS Completes Two Large Projects

MOSCOW, July 19, 2011 /PRNewswire/ --

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
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