Reksoft Becomes Part of TechnoServ A/S

Reksoft, an expert software outsourcing provider with primary development centers in St.Petersburg, Russia, announced today that it joined TechnoServ A/S, one of the largest IT companies in Russia.

Reksoft was founded in 1991 and developed into the premier software outsourcing provider with 400 headcount and offices in Russia, Germany and Sweden. The company won the trust of Dirol Cadbury, Fujitsu Siemens Computers, Siemens, Mazda, Philip Morris, TietoEnator. Reksoft earned 22.6 mln. USD in FY 2007 and has had the CAGR of 41% over the last five years.

According to the latest IDC analytics, TechnoServ A/S is the second largest IT services provider in Russia. It accomplished the FY 2007 with 1.2 bln USD in revenues and has more than 1500 employees in Russia and the CIS. The alliance with TechnoServ A/S will strengthen Reksoft financial sustainability and accelerate the provider's geographical expansion both to become closer to our clients and to develop new delivery locations in Russia and Eastern Europe.

Under the agreement, Reksoft will continue to operate independently and Alexander Egorov, Reksoft CEO since company's inception, will stay in his position. MTVP, an Estonian-registered venture capital fund, which had invested in Reksoft in November 2005 and stayed in the Board of Directors of Reksoft since then, exited the company. "Among tens of different Russian IT companies we have worked with, Reksoft has one of the best managements, well-established processes, quality assurance and strong corporate culture", says Allan Martinson.

"We are excited about the future cooperation with this new partner. The management of TechnoServ and Reksoft shares a common vision on the future development of our joint business and we will further increase the value to our existing customers and partners. We appreciated all the help and support that MTVP provided and I am sure that we will cooperate in the coming years," confirms Alexander Egorov, Reksoft Chief Executive Officer.

Additional information:

About Reksoft (http://www.reksoft.com):

Reksoft is an expert offshore software development services provider with a key focus on Telecommunications, Hospitality & Travel, and Financial Services sectors. Reksoft has been delivering software outsourcing solutions for the past 17 years, winning a loyal customer base of such leading enterprises as Aastra Telecom, Airwide Solutions, Dirol Cadbury, First Data International, Francotyp-Postalia, Fujitsu Siemens Computers, NovaStor, Philip Morris, SoftBrands Hospitality, Swisscom Mobile, TietoEnator, T-Systems. Currently, the company counts 400 employees and has completed the FY2007 with $ 22.6 mln.

Media Contact:

Svetlana Vronskaya, Reksoft
Tel: +7 812 325 21 00/+7 921 954 79 92
email: vronskaya@reksoft.com

About TechnoServ A/S (http://www.technoserv.ru/en):

TechnoServ A/S is the leading provider of products and technologies and the largest Russian company dedicated to system integration, IT-services and creation of engineering facilities. TechnoServ A/S was founded in 1992 to market, install and support big computer systems. Now companys solutions span various areas of IT-industry and engineering including IT-infrastructure, networking, applications, as well as IT-audit, consulting and outsourcing. Based in Moscow, TechnoServ A/S is represented by offices in Ekaterinburg, Krasnodar, Nizhny Novgorod, Novosibirsk, Saint-Petersburg, Kiev (Ukraine) and Tashkent (Uzbekistan). TechnoServ A/S is a powerful team of over 1500 employees. Since 1992 TechnoServ A/S has developed and brought to life over 3000 big projects.

Media Contact:

Andrey Konyaev, TechnoServ A/S
Tel: +7 495 727 0989
email: konyaev@technoserv.ru

About MTVP (http://www.mtvp.ee):

Martinson Trigon Venture Partners is a private equity partnership focusing exclusively on technology, media and telecom ('TMT') related investment opportunities in Russia, Baltic States and other Central and Eastern European countries. The investment portfolio includes Invisible CRM, Hostex, TVCorp, Rate Solutions, TimeOut Solutions, Apaja, Noviy Disk.

Media Contact:

Allan Martinson, MTVP
Tel: +372 5 039 581
email: allan.martinson@mtvp.ee