• The Scheme of Arrangement was sanctioned by the Isle of Man High Court of Justice at 2.00 p.m. on November6,2014.
  • T he court order sanctioning the Scheme of Arrangement is expected to become effective on November 7,2014 with the registration with the Isle of Man Registrar of Companies.
  • The IBS Group GDRs are expected to be cancelled on or around November7,2014; a delisting from the Frankfurt Stock Exchange is expected to occur shortly thereafter.

Ramsey, Isle of Man, November6,2014-IBS Group Holding Limited ("IBS Group Holding") announces that the proposal to reorganize the IBS group by means of a scheme of arrangement under Section 157 of the Isle of Man Companies Act 2006 (the "Scheme") was sanctioned by the Isle of Man High Court of Justicetoday . At the court hearing, in which it was proposed to sanction the Scheme and the court order was sought, any shareholder of IBS Group Holding shares other than those held by BXA Investment Ltd. and Croyton Limited (the "Scheme Shares") or a holder of the global depositary receipts of IBS Group Holding (the "IBS Group GDRs" and together with the Scheme Shares the "Scheme Securities") was allowed to appear to support or oppose the approval by the Isle of Man Court or to make a representation to the Isle of Man Court in relation to the Scheme. At the end of the court hearing the Isle of Man High Court of Justice sanctioned the Scheme and the sought court order was issued.

IBS Group Holding now announces that:

(a)  T he court order is expected to be registered with the Isle of Man Registrar of Companies on November 7,2014. Simultaneous with the registration of the court order, the Scheme will become effective (the "Scheme Effective Date") and the Scheme Shares will be cancelled.

(b)  It is expected that the IBS Group GDRs which are listed on the regulated market of the Frankfurt Stock Exchange (general standard) (ISIN: US4509391037) will also be cancelled on or around November 7, 2014 following which the IBS Group GDRs are expected to be delisted from the Frankfurt Stock Exchange .

(c)  The settlement of the Scheme and delivery of the shares in Luxoft Holding, Inc is expected to take place on or before November20,2014 .


About IBS Group Holding Limited

IBS Group Holding is a leading software development and IT services provider in Central and Eastern Europe. Through its two principal subsidiaries, Luxoft Holding, Inc 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 Holding has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA, Vietnam and Singapore. IBS Group Holding's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F).

About Luxoft Holding, Inc

Luxoft Holding, Inc is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large, multinational corporations. Luxoft Holding, Inc's services consist of core and mission critical software development and support, product engineering and testing, and technology consulting. Luxoft Holding, Inc's solutions are based on its proprietary products and platforms that directly impact clients' business outcomes and efficiently deliver continuous innovation. The Class A common shares of Luxoft Holding, Inc are listed on the New York Stock Exchange (NYSE: LXFT US).

For more information about IBS Group Holding please visit http://www.ibsgr.com or contact

Investor Relations:

Andrei Novikov

IR Director

tel: +7 (495) 967 8000 (ext.3095)

anovikov@ibs.ru

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THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND YOU SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES ON THE BASIS OF INFORMATION CONTAINED IN THIS ANNOUNCEMENT. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO PURCHASE, OTHERWISE ACQUIRE, ISSUE, SUBSCRIBE FOR, SELL OR OTHERWISE DISPOSE OF ANY SECURITIES, NOR ANY SOLICITATION OF ANY OFFER TO PURCHASE, OTHERWISE ACQUIRE, ISSUE, SUBSCRIBE FOR, SELL OR OTHERWISE DISPOSE OF, ANY SECURITIES.

IN GERMANY AND AUSTRIA THE OFFER OF LUXOFT HOLDING, INC SHARES IS BEING MADE SOLELY BY MEANS OF, AND ON THE BASIS OF, A SECURITIES PROSPECTUS WHICH HAS BEEN APPROVED BY THE GERMAN FINANCIAL SUPERVISORY AUTHORITY (BAFIN). THE SECURITIES PROSPECTUS HAS BEEN PUBLISHED BY IBS GROUP HOLDING AND IS AVAILABLE ON THE IBS GROUP HOLDING WEBSITE.

THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS DOCUMENT AND/OR THE ACCOMPANYING DOCUMENTS IN OR INTO JURISDICTIONS OTHER THAN ISLE OF MAN, GERMANY OR AUSTRIA, MAY BE RESTRICTED BY LAW AND THEREFORE THIS DOCUMENT AND/OR THE ACCOMPANYING DOCUMENTS MAY NOT BE DISTRIBUTED OR PUBLISHED IN ANY JURISDICTION EXCEPT IN COMPLIANCE WITH ANY APPLICABLE LAWS AND REGULATIONS. PERSONS INTO WHOSE POSSESSION THIS DOCUMENT AND/OR THE ACCOMPANYING DOCUMENTS COME SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTIONS. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES UNLESS THEY ARE REGISTERED UNDER THE US SECURITIES ACT OR ARE EXEMPT FROM SUCH REGISTRATION. THE LUXOFT HOLDING, INC SHARES WILL NOT BE, AND ARE NOT REQUIRED TO BE, REGISTERED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION ("SEC") UNDER THE US SECURITIES ACT OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAW OF ANY OTHER JURISDICTION AND MAY NOT BE OFFERED OR SOLD IN THE U.S. OR TO U.S. PERSONS (AS DEFINED IN THE SECURITIES ACT) UNLESS THE SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENT OF THE SECURITIES ACT IS AVAILABLE.

THE SECURITIES ISSUED PURSUANT TO THE SCHEME WILL BE ISSUED IN RELIANCE UPON THE EXEMPTION FROM REGISTRATION PROVIDED BY SECTION 3(A)(10) THEREOF. THE APPROVAL OF THE ISLE OF MAN HIGH COURT OF JUSTICE CONSTITUTES THE BASIS FOR THE SCHEME SHARES TO BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT, IN RELIANCE ON THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT PROVIDED BY SECTION 3(A)(10).

THE SCHEME SHAREHOLDERS MUST RELY ON THEIR OWN EXAMINATION OF THE TERMS OF THE SCHEME, INCLUDING THE MERITS AND RISKS INVOLVED. THE SCHEME CIRCULAR HAS NOT BEEN FILED WITH OR REVIEWED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES AUTHORITY AND NONE OF THEM HAS APPROVED, DISAPPROVED, PASSED UPON OR ENDORSED THE MERITS OF THE SCHEME OR THE ACCURACY, ADEQUACY OR COMPLETENESS OF THE SCHEME CIRCULAR. IT IS UNLAWFUL TO MAKE ANY REPRESENTATION INCONSISTENT WITH THE PROVISIONS OF THIS PARAGRAPH.

NO CLEARANCES HAVE BEEN, NOR WILL BE, OBTAINED FROM THE SECURITIES COMMISSION OF ANY PROVINCE OR TERRITORY OF CANADA; NO PROSPECTUS IN RELATION TO THE LUXOFT HOLDING, INC SHARES HAS BEEN, OR WILL BE, LODGED WITH, OR REGISTERED BY THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION; AND NO REGISTRATION STATEMENT HAS BEEN, OR WILL BE, FILED WITH THE JAPANESE MINISTRY OF FINANCE IN RELATION TO THE LUXOFT HOLDING, INC SHARES. ACCORDINGLY, SUBJECT TO CERTAIN EXCEPTIONS, THE LUXOFT HOLDING, INC SHARES MAY NOT, DIRECTLY OR INDIRECTLY, BE OFFERED OR SOLD WITHIN CANADA, AUSTRALIA OR JAPAN OR OFFERED OR SOLD TO A RESIDENT OF CANADA, AUSTRALIA OR JAPAN.

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