IBS Group Member Improves Financial Management of Russian and Overseas Assets for Europe's Largest Internet Company

IBS Group Member Improves Financial Management of Russian and Overseas Assets
                    for Europe's Largest Internet Company

  PR Newswire

  RAMSEY, Isle of Man, December 13, 2012

RAMSEY, Isle of Man, December 13, 2012 /PRNewswire/ --

    Please refer to relevant legal information at the end of the document

IBS Group , a leading software development and ITservices provider in Central
and Eastern Europe, today announces that IBS IT Services, a member of IBS
Group, has completed a joint project with Mail.Ru Group, Europe's largest
Internet company, and SAP, a global leader in corporate performance management
applications, to enhance financial management at Mail.Ru Group. A unified
SAP-based management system will help streamline management processes at
Mail.Ru Group and more than 20 of its offices, including those outside Russia,
and ensure greater transparency and control of business.

The system created by IBS IT Services and Mail.Ru Group embraces all of the
company's key financial and economic processes and comprises three solutions:
Operational Accounting, Budgeting, and Reporting. The first facilitates
operational accounting for business transactions, procurement, and outgoing
payments. The transaction component is closely linked to Mail.Ru Group's IT
systems, including a sales management system for online games and advertising.
The budgeting subsystem allows annual plans to be generated broken down into
business units, and implementation monitored based on operational accounting
data. The reporting subsystem is designed to prepare tailored management and
financial accounts. As a whole, the system allows records maintenance and the
preparation of RAS and IFRS financial statements, tax returns, consolidated
IFRS financial statements, and consolidated management accounts.

" Russian companies entering the global market have to reinforce their
business processes. As a company with strong international credentials, IBS
Group offers its customers best-in-class solutions, expertise and support
throughout the world. The system, newly created for Mail.Ru Group, complies
with customers '  global standards and observes local accounting policies and
procedures, " said Alexander Saksin, Director of IBS Corporate Management
Systems Department .

The new system cuts down the time needed to prepare consolidated financial
statements three times. This is particularly important given rigorous
regulatory policies and the requirements of the London Stock Exchange (LSE),
where Mail.Ru Group's GDRs are listed, regarding the timeliness and quality of

" As we set ambitious business goals and have to meet higher expectations as a
public company, we seek to enhance transparency and manageability of all the
company ' s financial processes. The new financial management system that we
have launched jointly with IBS brings our financial business processes in line
with the best global practices, " said Ruslan Aksyaitov, Deputy Financial
Director of Mail.Ru Group.

Mail.Ru Group's unified operational financial management system currently
covers six Russian legal entities within the group, including Mail.Ru and
Odnoklassniki, as well as its online games units. It also covers about 10
foreign offices, where budget limit controls and cash flow management
functions were introduced. SAP BPC and SAP BO FC-based tools for collecting
and consolidating reports were deployed for all of the Group's companies.
Despite the large project scope, it took just seven months to launch the

As an SAP Partner since 1998, IBS Group boasts one of the largest SAP ERP
practices in the Russian market. IBS IT Services, a member of IBS Group, has
implemented more than 150 SAP projects and has extensive credentials in
implementing these solutions for global companies.

About IBS Group Holding Limited

IBS Group is a leading software development and IT services provider in
Central and 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 and IT services outsourcing, IT infrastructure
and business applications implementation. IBS Group has business operations in
Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA,
Vietnam and Singapore. IBS Group employs more than 8,300 people worldwide. In
the year ended March 31, 2012, the Group reported US GAAP consolidated
revenues of USD816.3 million. IBS Group's Global Depositary Receipts are
listed on the Regulated Market (General Standard) at the Frankfurt Stock
Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F)

About Mail.Ru Group

Mail.Ru Group (established in 1998) is a leading Internet company in the
Russian-speaking Internet markets (Russia is Europe's largest Internet market
measured by number of users. Source: comScore, September 2011). Mail.Ru
Group's sites reach approximately84% of Russian Internet users on a monthly
basis (comScore, December2011) and the Company is in the TOP 5 largest
Internet businesses, based on the number of total pages viewed (ComScore,

In line with the Communitainment (Communications + Entertainment) strategy the
Company is moving rapidly to build an integrated communication and
entertainment platform.. The Company operates two of the three largest Russian
language online social networking sites (Odnoklassniki and Moi Mir (or "My
World")) (TNS, December2011). The Company also operates the two largest
Instant Messaging networks in Russia (Mail.Ru Agent and ICQ), Russia's leading
email service and Russia's largest Internet portal Mail.ru (by daily and
monthly visitors, TNS, December2011), and the Company operates Russia's
largest online games platform.

The Company holds equity stakes in VKontakte (39.99%) and Qiwi (21.35%). The
Company also holds small minority stakes in Facebook, Zynga, and Groupon as
well as a number of large Russian and Ukrainian Internet companies.

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps
companies of all sizes and industries run better. From back office to
boardroom, warehouse to storefront, desktop to mobile device - SAP empowers
people and organizations to work together more efficiently and use business
insight more effectively to stay ahead of the competition. SAP applications
and services enable more than 195,000 customers (includes customers from the
acquisition of SuccessFactors) to operate profitably, adapt continuously, and
grow sustainably. For more information, visit http://www.sap.com


The information contained in this press release is not for publication,
distribution or release, directly or indirectly, in any jurisdiction where
such publication, disclosure or release would be unlawful. This press release
does not constitute an offer for the sale of securities in the United States
of America, Canada, Australia, Japan or any other jurisdiction in which an
offer would be subject to legal restrictions.

Contact: For more information about IBS Group please visit
http://www.ibsgr.com or contact: Investor Relations: Andrei Novikov, IR
Director, tel: +7(495)-967-8000 (ext.3095), anovikov@ibs.ru. Media Relations:
Ekaterina Beskhizhko, PR Manager, tel: +7(495)967-8080 (ext.2363),
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