IBS Group Holding Ltd : IBS Group Subsidiary Announces Closing of Initial Public Offering and Full Exercise of Over-Allotment Option

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

IBS Group Subsidiary Announces Closing of Initial Public Offering and Full Exercise of Over-Allotment Option

Ramsey, the Isle of Man, July 01, 2013 -Luxoft Holding, Inc, a subsidiary of IBS Group Holding Limited ("IBS Group"), announced today the closing of its initial public offering of 4,705,880 Class A ordinary shares at $17.00 per Class A ordinary share, which includes the exercise in full by the underwriters of their option to purchase up to 613,810 additional Class A ordinary shares. 2,046,035 of the Class A ordinary shares were offered by Luxoft, and another 2,659,845 Class A ordinary shares, which includes the over-allotment, were offered by its parent, IBS Group Holding Limited. Luxoft's ordinary shares are listed on the New York Stock Exchange under the trading symbol "LXFT".

UBS Limited, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, VTB Capital plc and Cowen and Company, LLC are the joint bookrunning managers for the offering. A copy of the final prospectus related to the offering may be obtained when available from UBS Securities LLC, by telephone at 1-888-827-7275 or by mail at Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171; from Credit Suisse Securities (USA) LLC, by telephone at 1-800-221-1037, by mail at Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by email at [e-mail]; from J.P. Morgan Securities LLC, by telephone at 1-866-803-9204 or by mail at Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; from VTB Capital plc by telephone at  [phone] or by mail at 452 Fifth Avenue, 23rd Floor, New York NY 10018; or from Cowen and Company, LLC, by telephone at 1-631-274-2806 or by mail at Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.

A registration statement relating to these securities was declared effective by the United States Securities and Exchange Commission on June 25, 2013. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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)

For more information about IBS Group please visit www.ibsgr.com or contact

Investor Relations: Andrei Novikov IR Director tel: [phone] (ext.3095) [e-mail]

Media Relations: Ekaterina Beskhizhko PR Manager tel: [phone] (ext.2963) [e-mail]

Disclaimer
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.