DataArt Launches Dedicated Financial Technology Group

April 28, 2005, St. Petersburg, Russia. – During its annual corporate conference in St. Petersburg, Russia, DataArt announced formation of a dedicated DataArt Finance group. The newly formed group will strengthen DataArt's technology offerings in the investment management and hedge fund space in the U.S. and Europe.

DataArt offers a unique set of solutions: advanced technology expertise coupled with significant cost savings through the use of its offshore software resources. The core of the offering is enterprise application development, system integration and mathematical research. "DataArt makes customized software a viable alternative for Investment Management organizations, as compared to costly off-the-shelf products or in-house development options," said Alexei Miller, DataArt's Executive Vice President.

Other conference presenters highlighted DataArt's success in life sciences, e-learning and telecommunications sectors. The two day event was attended by company's key clients and leading U.S. outsourcing experts - representatives of Unisys, Outsourcing Institute and Media First. In their speeches, guests addressed the issues of compliance, certifications and a growing interest to Russian outsourcing overall.

"Russian IT providers are becoming a growing competition to India", said Eugene Goland, President of DataArt. "We shouldn't copy anyone's path: Russian providers are ideal for solving complex problems and it has always been our strong selling point."