Reksoft Selected as Nearshore Development Partner by Siemens Switzerland

St. Petersburg, Russia - April 6th, 2006 - Siemens Switzerland, the Swiss affiliate of the world’s largest electronics equipment manufacturer Siemens AG, and Reksoft, one of the leading offshore software development companies in Russia, signed the framework agreement on cooperation in individual software development and maintenance projects.
Reksoft, based in St. Petersburg, Russia, is a 260-strong software outsourcing company. According to the current agreement Reksoft will be engaged in a number of specific projects for Siemens Switzerland.
Alexander Egorov, Reksoft CEO, admitted: “We are incredibly honored to have won the trust of a nearshore partnership with such a supreme technology leader as Siemens Switzerland. We are happy to offer an adequate and cost efficient resource base and look forward to bring out our best in optimizing Siemens Switzerland’s delivery chain and hope to secure multiple outsourcing benefits for our new European partner.”

Additional information:
About Siemens Switzerland (http://www.siemens.ch):
Siemens, headquartered in Berlin and Munich, is one of the world’s largest electrical engineering and electronics companies. Siemens provides innovative technologies and comprehensive know-how to benefit customers in 190 countries. Founded more than 150 years ago, the company is active in the areas of Information and Communications, Automation and Control, Power, Transportation, Medical, and Lighting.
About Reksoft (http://www.reksoft.com):
Since 1991 Reksoft provides offshore software development services with a key focus on Telecommunications, Hospitality & Travel, and Finance sectors. Reksoft has been delivering software outsourcing solutions for the past 15 years, winning a loyal customer base of such leading enterprises as Ascom, Dirol Cadbury, First Hop, Fujitsu Siemens Computers, Philip Morris, ProSieben, Saxo Bank, Swisscom Mobile, T-Systems and UPM. Currently the company counts 260+ employees and have completed the FY2005 with $ 9 mln. revenue.

Media Contact:
Svetlana Vronskaya
Director, Corporate Communications
Reksoft
Tel: +7 812 325 21 00
email: vronskaya@reksoft.com
www.reksoft.com