StarSoft Posts Record Growth from New Client Business and Expanded Capacity with Launch of Development Centers in Russia and the Ukraine

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StarSoft Development Labs, an established leader in providing software outsourcing management expertise and services in Russia and Eastern Europe, experienced a period of record growth in 2005 with revenues increasing from $5.9 million in 2004 to $10.4 million in 2005, representing a 76% gain. Global headcount at StarSoft over the same period has grown from 300 to 500 employees. StarSoft's tremendous growth can be attributed to new business acquired on both sides of the Atlantic, and the expansion of operations with its long-term clients in various offshore development centers in Russia and the Ukraine.

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StarSoft Development Labs, an established leader in providing software outsourcing management expertise and services in Russia and Eastern Europe, experienced a period of record growth in 2005 with revenues increasing from $5.9 million in 2004 to $10.4 million in 2005, representing a 76% gain. Global headcount at StarSoft over the same period has grown from 300 to 500 employees. StarSoft's tremendous growth can be attributed to new business acquired on both sides of the Atlantic, and the expansion of operations with its long-term clients in various offshore development centers in Russia and the Ukraine.

StarSoft has added several new strategic accounts to its portfolio of U.S.-based clients. Throughout 2005, StarSoft collaborated with SirsiDynix of Provo, Utah, the global leader in strategic technology solutions for libraries, on the Horizon 8.0 project. This resulted in the world's largest, most productive outsourced Agile Java development project documented to date, according to Jeff Sutherland, a renowned expert on Agile methodologies.

“We are seeing an increase in the number of companies that recognize there are emerging options that can be strategically deployed to compliment in-house software development. The highly educated and skilled programmers in Russia are able to handle extremely complex programming projects that companies have been previously unwilling to outsource. This trend is evident in our significant growth and expansion. With over 15 years experience, StarSoft has unrivaled outsourcing management expertise, access to the best industry talent and a commitment to exploiting new development methodologies that dramatically improve software quality and time-to-market,” said Peter Vaihansky, Vice President of StarSoft Development Labs.

StarSoft recently announced the launch of a new development center in Kazan, a city with a population of 1.2 million and a well-known center of science and education in Central Russia. As part of the company’s strategy to provide its global clientele access to the world’s best educated workforce, StarSoft opened a new development center in Dnepropetrovsk, Ukraine in November 2005. Both new facilities are adding to StarSoft’s scalability, at the same time allowing the company to utilize the highly qualified workforce and competitive prices.

Several projects for StarSoft's existing customers (including Computer Science Corporation) have already launched in the Ukrainian office. The facility currently employs 50 engineers, with plans to boost that number to 100 by the end of 2006.

About StarSoft Development Labs, Inc.

StarSoft Development Labs has been providing software outsourcing services to American and European clients since 1991. Headquartered in Cambridge, Massachusetts, USA, StarSoft operates development centers in the Russian cities of St. Petersburg and Kazan, and in Dnepropetrovsk, Ukraine. StarSoft excels in developing complex e-business solutions, enterprise portals, and specialized business applications for healthcare, telecommunications, financial services, real estate, and other industry sectors. Clients include Computer Sciences Corporation (CSC), T-Mobile, IBM, Macromedia, Fellowes, ScriptLogic, SirsiDynix, and other Fortune 500 and mid-size growth companies. For further information, please visit http://www.starsoftlabs.com. For more information, please contact:

Cheryl Gale/Stephanie Rubino

March Communications

617-475-1571/617 475 1574

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