St.Petersburg, Russia and Simi Valley, CA -- (ReleaseWire) -- 10/25/2007 -- Reksoft, the software outsourcing company, headquartered in St. Petersburg, Russia, and NovaStor, the leading provider of software solutions for data availability and protection, announced that they extended their partnership in software development.

NovaStor develops and markets data protection and availability software. The wide range of products offered by NovaStor is used by private users, small- and medium-sized companies and large international organizations alike. NovaStor's product portfolio covers the following application areas: data protection, data recovery and the long-term, legally-compliant storage of data.

Reksoft was first involved in cooperation with NovaStor in spring 2007 and has successfully completed the first project for the customer. The current projects encompass development of an advanced functionality for NovaStor data protection systems to leverage 3rd party, remote or online storage solutions.

"We, at NovaStor, pay the utmost attention to keeping the engineering quality of our products up-to-date in the highly competitive market and want to constantly ensure that they have the most comprehensive and flexible capabilities. We have found in Reksoft a software engineering partner with the striving for excellence, who provides us with faster time-to-market and excellent quality. We are glad to pursue our cooperation with them," said Chris Harvey, NovaStor CTO.

"We are very proud to extend our relationship with NovaStor after the piloting stage. Staying ahead of the curve on the latest technologies and best practices was always a key priority for Reksoft and this helped us a lot in meeting the stringent requirements set by NovaStor. Having such a pronounced company as NovaStor in our US customer portfolio is a great honour for Reksoft and we are set to deliver outstanding results," confirmed Reksoft CEO Alexander Egorov.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Reksoft, the software outsourcing company headquartered in St. Petersburg, Russia, announced that its US customer Trusted Opinion Inc. successfully launched www.TrustedOpinion.com.

St.Petersburg, Russia and Palo Alto, CA -- (ReleaseWire) -- 07/17/2007 -- Reksoft, the software outsourcing company headquartered in St. Petersburg, Russia, announced that its US customer Trusted Opinion Inc. successfully launched www.TrustedOpinion.com.

Trusted Opinion is an advanced social networking and recommendations site, allowing community members to get reliable advices, ratings, and recommendations from the people they can trust. Members will find reviews on movies, DVDs, and television series, and can discover other members who share their common interests. TrustedOpinion.com is different because it shows every member a unique score for every item based on the opinions of those closest to them in their social network. TrustedOpinion.com is the only recommendation site that avoids commercial bias by always weighing friends' opinions higher than those of a stranger. As each member's trusted network expands, the recommendations become more personalized and relevant.

TrustedOpinion.com was founded by serial entrepreneur Shahar Smirin, who after searching for a reliable trusted recommendations online, realized there was no place to get recommendations like people do "in real life". TrustedOpinion.com was designed to mirror the way people get trusted advice: from their circle of friends.

TrustedOpinion.com is the result of a multi-year research and development project, started from overall studies in social networking, and supporting experiments with early versions of the social recommendations engine™. In November 2006, while still private beta, it was nominated as one of the "Hottest Web 2.0 Internet sites". The portal was publicly launched in February'07 and just in few months achieved 100,000 registered members and continues to grow by >200% a month.

Reksoft has been providing software engineering services for the TrustedOpinion.com portal, along with remote systems management service for the portal production site, located in the USA. The portal follows the Web 2.0 ideology and simplicity, smartly balancing Flash and AJAX. "We have considered outsourcing our core development to dedicated team at Reksoft while staying focused on marketing and business growth to achieve our primary business goals. We have found it very efficient and cost effective," says TrustedOpinion.com's Founder and CEO Shahar Smirin.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Reksoft Sponsored a Report on Russia - as an Offshoring Location

St.Petersburg, Russia -- (ReleaseWire) -- 05/10/2007 -- Reksoft is proud to be among the industry leaders who sponsored the research by IDC on Russia as an offshore software outsourcing location.

IDC, the market intelligence agency, together with Russoft, the Russian IT services exporters association, released a white paper titled "Russia as Offshore Software Development Location: Should You Consider This Your Next Move?" The White Paper is based on in-depth, executive-level interviews with Western European and US-based companies that have used Russian software and services companies for offshore development projects.

The research finds that such factors as stability of relationship, technical expertise, and relatively low staff turnover are the key advantages of Russian software development companies. Though price is often behind the initial supplier choice, these factors strongly influence the quality of service and the strength of relationship that customers value in their dealings with Russian outsourcing providers. Participating companies pointed to the availability of highly educated engineers, their strong technical backgrounds, and sound methodologies.

Softer factors often mentioned included a closer cultural fit with US and Europe than Asian suppliers, similar work ethics, a clearer understanding of business issues, and similar time zones. English-language skills do not represent a problem, and are continuing to improve as English fluency is increasingly emphasized in the educational system.

It is worth mentioning that not a single company complained on IPR or infrastructure issues, but many spoke about the "clear understanding of business issues" by Russian software engineering providers.

"Several factors work as Russia's differentiators on the world market, such as the large pool of highly skilled professionals with mathematics and science backgrounds, capable of solving complex and math-intensive problems, and the ability of Russian companies to manage high-end, complex projects," said Vladimir Kroa, Regional Director for IT Services Research, IDC Research in the joint IDC and Russoft press release. "Also, Western European and American organizations often perceive Russia as being a closer cultural fit than countries like India, China, or the Philippines."

The full version of the report is available here - http://www.reksoft.com/misc/reksoft_co/files/176/IDC%20-%20White%20Paper%20-%20Final.pdf

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St.Petersburg, n/a -- (ReleaseWire) -- 02/16/2007 -- Reksoft, the software outsourcing and systems integration company headquartered in St. Petersburg, Russia, announced that it successfully accomplished the pilot phase of a project at one of the world's largest STM publishing house - Springer Science+Business Media.

Springer's main publishing fields are science, medicine, engineering, economics, architecture, construction and transport. The company owns 70 publishing houses in Europe, Asia and the USA and publishes 1,700 journals and 5,000 new book titles every year, plus databases, online services, conferences and seminars. Behind all of this are some 5,000 employees working in more than 20 countries around the world.

Springer's Content Management Department was the prime customer of the workflow system that ensures the highest data quality, establishes clear responsibilities for information and process flow, reduces the complexity of processes and harmonizes processes at Springer's worldwide locations.

Springer began with the journal production processes area. The original solution which automated the journals production workflow was developed based on the EMC Documentum platform. Following its success, Springer decided to extend the process for book production. The system automates all of the book production processes: from initiating a book and preparing content to proofs, to creating hard copies and digital content and finally, to distribution. The system will be based on the Documentum platform.

"For Springer it was very important to have flexibility with respect to capacity for experienced and high qualified Documentum developers. Reksoft provides us with excellent Documentum expertise, the capability to work in a joint international team and the flexibility to add new and qualified project members in a short time frame," said Werner Fischer, Executive Vice President IT at Springer.

Although Reksoft engineers joined the project in the middle of the development process, the project communications were built up promptly thanks to the excellent knowledge transfer process, thereby ensuring the smooth course of the project. A further challenge was the geographic spread of the team members in Germany, the United States, the Netherlands and Russia, but this challenge was easily mastered and at the end of January 2007 the first phase of the project was completed. The system is expected to be rolled out into operations in a few months and the number of jobs created will be in the hundreds.

"For any Russian outsourcing company it is a unique experience to be involved in the development and roll-out of enterprise-level systems for end customers. Reksoft is the first among Russian companies to provide outsourcing services on specific Documentum technologies, I am proud that Reksoft will be able to demonstrate its experience as a systems integrator on this project, thereby delivering superior value to the customer," said Alexander Egorov, Reksoft CEO.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St.Petersburg, Russia -- (ReleaseWire) -- 01/18/2007 -- Reksoft, a software outsourcing vendor headquartered in St. Petersburg, Russia, announced that it opened its first office in Germany.

Reksoft, a CMMI Level 4 and ISO certified company, started operations in 1991 and is now in the Top Five list of providers of application development and outsourcing services in Russia. Reksoft is distinguished by CMP Media in its "Global Services 100" list, and is included in the "Top Offshoring Providers" by International Association of Outsourcing Providers.

In 2002 Reksoft launched an expansion strategy focusing on the key markets of Western Europe. The first step was to open an office in Stockholm, Sweden, two years ago. Building on the foundation of its Swedish operational success, Reksoft launched a Reksoft GmbH division in Munich, Germany, with the primary goal of being "right next door" to German clients. Today, the majority of Reksoft customers are located in either Northern Europe or German-speaking countries. A representative list includes TietoEnator, FirstHop, UPM Kymmene and Saxo Bank in the Nordics; Fujitsu Siemens Computers, T-Systems and Francotyp-Postalia in Germany; Swisscom Mobile, Sicap and Aastra Telecom in Switzerland.

"Last year proved that the German market is set to grow in terms of an increasing number of German companies outsourcing their IT functions. We have had a very successful year of cooperation with our Germany-based clientele in 2006, and expect more customers from this region coming in to use our services with the purpose of both getting access to specific technology skills and reducing costs," admitted Ekaterina Zabelinskaya, Director, International Business Unit, Reksoft, - "Total IT spending in Germany is forecast by EITO to climb by 3,4% in 2006 with outsourcing being the main growth engine of the market, driven by an increasing search for cost reduction and flexibility. German companies will rely heavily on outsourcing services in 2007 and this fact means that we are in the right place at the right time."

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St.Petersburg, Russia -- (ReleaseWire) -- 10/24/2006 -- Reksoft, the software outsourcing vendor with a primary resource base in St. Petersburg, Russia, announced that it achieved the highest partner status of EMC Documentum - Velocity2 Content Management Program Premier Partner.

Reksoft has been a Documentum partner since 2001. In the last five years, Reksoft has built up the largest competence center for Documentum technologies in Russia, and has completed over a dozen of enterprise-scale projects. A number of software packages based on the Documentum platform were developed by Reksoft with modules for managing HR, banking business processes, GMP, as well as for contract management and archiving.

The clients that have selected Reksoft as their systems integration partner for the implementation of the Documentum platform are well-known Russian and International enterprises. Among them are such leaders as MTT, Nomos Bank, Petersburg Transit Telecom, Peterstar, Philip Morris, Sibneft, UralSvyazInform, and UTK.

About Reksoft (http://www.reksoft.com):
Since 1991 Reksoft provides offshore software development services with a key focus on Telecommunications, Hospitality & Travel, and Financial Services sectors. Reksoft has been delivering software outsourcing solutions for the past 15 years, winning a loyal customer base of such leading enterprises as Aastra Telecom, Dirol Cadbury, First Hop, Frankotyp-Postalia, Fujitsu Siemens Computers, Philip Morris, ProSieben, Saxo Bank, Siemens Switzerland, SoftBrands Hospitality, Swisscom Mobile, T-Systems and UPM. Currently the company counts 300+ employees and has completed the FY2005 with $ 9 mln. in revenue. In Russia Reksoft expands its services offering system integration and IT consulting services for information lifecycle management and enterprise resource planning systems.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St. Petersburg, Russia -- (ReleaseWire) -- 10/06/2006 -- Reksoft, the software outsourcing vendor with a primary resource base in St. Petersburg, Russia, announced that it successfully passed the formal assessment against the requirements for SEI CMMI-SE/SW Maturity Level 4.

Capability Maturity Model® Integration (CMMI) - SE/SW is a process improvement approach that provides organizations with the essential elements of effective processes. The model was developed by the SEI (Software Engineering Institute, Carnegie Mellon University) for assessing a company's software engineering capability and the maturity of its processes.

Reksoft has always considered it important to instill the best practices in quality management and has put a lot of effort into improving the effectiveness of its internal processes, while continuously striving to make them more transparent for customers. After claiming ISO 9001:2000 back in 2000, Reksoft did not put on hold its drive for perfection and initiated the CMMI-based process improvement program, about a year and a half ago.

The final assessment was carried out by Q-Labs, a US consulting company and official partner of Software Engineering Institute. "During the whole appraisal process I have witnessed Reksoft commitment to utmost quality and their determination to reach the higher level of customer satisfaction", commented lead assessor David Dayton.

Reksoft CEO Alexander Egorov noted on the achievement, "Reaching this CMMI® Maturity Level rating will help Reksoft to continuously improve the software engineering processes as well as the quality of the services delivered, and further enhance its standing as a premier provider of software outsourcing services in the global marketplace. Now, our prospective clients will not just have to take our word for it, all of our processes have been subjected to zealous investigation, and have been fount to match the highest customer expectations, and we are proud of that".

The combination of vertical and technology know-how with scalable and efficient process brings sustainable benefits to our customers. By adopting CMMI practices Reksoft ensures its capability to deliver end-to-end software solutions aligned with our customers' business needs, while maintaining fast time-to-market and low total cost of engagement.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St. Petersburg, Russia -- (ReleaseWire) -- 09/05/2006 -- Reksoft, the software outsourcing vendor with primary resource base in St. Petersburg, Russia, announced that it successfully developed an innovative software solution to raise the efficiency of Germany's leading manufacturer of franking machines, Francotyp-Postalia.

As an innovative, total solutions provider, Francotyp-Postalia offers a full range of mail center solutions, notably post processing machines. The company manufactures all kind of franking machines from compact entry devices to high performance mailing systems serving the perfect solution for organizations in every size. With more than 900 employees worldwide and sales and service subsidiaries in Austria, Belgium, Canada, Germany, Italy, The Netherlands, United Kingdom and USA, the company is proud to have more than 260,000 installed franking machines worldwide.

Reksoft and Frankotyp-Postalia GmbH cooperation started in 2005, when Reksoft was chosen from among other providers of software development services from Eastern Europe. The core idea of the project launched by the customer was to improve the performance of operations and it was requested that Reksoft focused solely on the software part of the system, leaving hardware and mechanics untouched.

"Reksoft R&D team demonstrated an excellence in developing the solution we needed. This result increases the performance of our machines and speaks for the high quality of technology knowledge and engineering skills, - says Werner Kampert, Frankotyp-Postalia GmbH Manager, R&D, Software & Hardware. - We are now in the process of running another project with Reksoft and look forward to excelling our relationship in the future".

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

Since 1991 Reksoft provides offshore software development services with a key focus on Telecommunications, Hospitality & Travel, and Financial Services sectors. Reksoft has been delivering software outsourcing solutions for the past 15 years, winning a loyal customer base of such leading enterprises as Aastra Telecom, Dirol Cadbury, First Hop, Fujitsu Siemens Computers, Philip Morris, ProSieben, Saxo Bank, Siemens Switzerland, SoftBrands Hospitality, Swisscom Mobile, T-Systems and UPM. Currently the company counts 300+ employees and has completed the FY2005 with $ 9 mln. in revenue.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St.Petersburg, Russian Federation -- (ReleaseWire) -- 08/18/2006 -- Microsoft Gold Certified Partner Reksoft (St. Petersburg, Russia) announced that it had earned Custom Development Solutions Competency.

"Custom Development Solutions" is a new competency developed by Microsoft this year is designed for companies who is delivering unique customized software solutions through software development and enterprise integration, software application quality assurance (testing) and enterprise application architecture.

Reksoft, with one of the most experienced teams in Microsoft technologies in Russia, uses a wide spectrum of Microsoft technologies and frameworks - .NET 2.0, SharePoint collaboration services, BizTalk, Microsoft Dynamics-NAV and Microsoft CRM. This technology portfolio allows Reksoft to deliver end-to-end IT solutions, fully adjusted to end customer needs. As an example, Reksoft pioneers emerging Microsoft technologies, such as Microsoft Office 12, Windows Workflow Foundation and SharePoint Services v.3 in a number of projects for Fujitsu Siemens Computers.

Reksoft has been Microsoft partner since 2002 and has had so far two proven competencies: "ISV/Software Solutions" and "Microsoft Business Solutions", the latter stressed Reksoft experience in deploying Microsoft Dynamics-NAV and Microsoft CRM - customer relationship management.

Reksoft competency in ISV/Software Solutions proved the company's ability to develop and market packaged software solutions based on Microsoft technologies. One of the top examples was call accounting and billing solutions of the Barsum product line, developed by Reksoft and spun off in the end of 2005.

In 2005 Reksoft was awarded Microsoft Gold Certified Partner Status, the top level of Microsoft solutions partnerships.

About Reksoft (www.reksoft.com):
Since 1991 Reksoft provides offshore software development services with a key focus on Telecommunications, Hospitality & Travel, and Financial Services sectors. Reksoft has been delivering software outsourcing solutions for the past 15 years, winning a loyal customer base of such leading enterprises as Aastra Telecom, Comverse, Dirol Cadbury, First Hop, Frankotyp Postalia, Fujitsu Siemens Computers, Philip Morris, ProSieben, Saxo Bank, Siemens Switzerland, SoftBrands Hospitality, Swisscom Mobile, T-Systems and UPM. Currently the company counts 300+ employees and has completed the FY2005 with $ 9 mln. in revenue.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Reksoft Russian IT Quarterly: A View on the Annual Progress of Russian Software Outsourcing Industry

St. Petersburg, Russia -- (ReleaseWire) -- 07/07/2006 -- A new issue of Reksoft Russian IT Quarterly newsletter is now available.

The beginning of summer was marked by the annual conference on software outsourcing in Russia held in Moscow. The Russian Outsourcing and Software Summit brought together hundreds of industry players, analysts and prospectives. With this being my 5th year at the Summit, I see plenty of evidence speaking for the maturation of the Russian IT outsourcing industry, and will share some of my observations on the progress of the industry, commenting on the changes that took place since the last year's Summit.

To read the full newsletter, please follow this link - http://www.reksoft.com/misc/reksoft_co/files/139/rus_it_quarterly_jul_2006.pdf

About Reksoft:

Since 1991 Reksoft provides offshore software development services with a key focus on Telecommunications, Hospitality & Travel, and Financial Services sectors. Reksoft has been delivering software outsourcing solutions for the past 15 years, winning a loyal customer base of such leading enterprises as Aastra Telecom, Dirol Cadbury, First Hop, Frankotyp Postalia, Fujitsu Siemens Computers, Philip Morris, ProSieben, Saxo Bank, Siemens Switzerland, SoftBrands Hospitality, Swisscom Mobile, T-Systems and UPM. Currently the company counts 300+ employees and has completed the FY2005 with $ 9 mln. in revenue.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St.Petersburg, Russia -- (ReleaseWire) -- 05/10/2006 -- Reksoft is proud to announce to have been included into The Top Offshoring Providers list prepared by the International Association of the Outsourcing Professionals (IAOP).

IAOP unveiled The Top Offshoring Providers, one of the sub-lists developed from The Global Outsourcing 100, on May 1st. The list features outsourcing providers who serve U.S. customers and do so primarily from locations outside the U.S., Canada, the UK, and Western Europe. Out of 30 offshore outsourcing service providers, two are located in Russia and Reksoft is honored to be one of them.

"The pioneer of Russia's software outsourcing market, with the development center in St. Petersburg, Russia, Reksoft has 15 years of experience serving large international companies in Western Europe and U.S., providing them with the cutting-edge technology expertise and strong vertical knowledge. We believe that the fact that Reksoft has been named in The Top Offshoring Providers by IAOP best reflects our efforts to become one of the premier software development companies in the region", commented Alexander Egorov, Reksoft CEO.

In the beginning of 2006 Reksoft was positively distinguished by CMP, being one of the two Russian IT services companies named in the Global Services 100 list of top global outsourcing suppliers.

The Top Offshoring Providers list will be published in the FORTUNE magazine on May 29th and is now available at IAOP website -
www.outsourcingprofessional.org/content/23/152/1233

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

St.Petersburg, Russia -- (ReleaseWire) -- 05/10/2006 -- Reksoft is proud to announce to have been included into The Top Offshoring Providers list prepared by the International Association of the Outsourcing Professionals (IAOP).

IAOP unveiled The Top Offshoring Providers, one of the sub-lists developed from The Global Outsourcing 100, on May 1st. The list features outsourcing providers who serve U.S. customers and do so primarily from locations outside the U.S., Canada, the UK, and Western Europe. Out of 30 offshore outsourcing service providers, two are located in Russia and Reksoft is honored to be one of them.

"The pioneer of Russia's software outsourcing market, with the development center in St. Petersburg, Russia, Reksoft has 15 years of experience serving large international companies in Western Europe and U.S., providing them with the cutting-edge technology expertise and strong vertical knowledge. We believe that the fact that Reksoft has been named in The Top Offshoring Providers by IAOP best reflects our efforts to become one of the premier software development companies in the region", commented Alexander Egorov, Reksoft CEO.

In the beginning of 2006 Reksoft was positively distinguished by CMP, being one of the two Russian IT services companies named in the Global Services 100 list of top global outsourcing suppliers.

The Top Offshoring Providers list will be published in the FORTUNE magazine on May 29th and is now available at IAOP website -

www.outsourcingprofessional.org/content/23/152/1233

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm