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VanceInfo Ranked Number One China-based Offshore Software Development Vendor for North American and European Markets

Posted on: Monday, 22 June 2009, 03:00 CDT

BEIJING, June 22 /PRNewswire-Asia/ -- VanceInfo Technologies Inc. (NYSE: VIT), an IT service provider and one of the leading offshore software development companies in China, today announced that the Company has been ranked number one among China-based offshore software development vendors for Europe and North America as measured by 2008 revenues, according to International Data Corporation ("IDC"). This is the second consecutive year that VanceInfo has been ranked number one by IDC in this category.

IDC is a leading global provider of market intelligence for the information technology, telecommunications, and consumer technology markets. The IDC research paper "China-Based Offshore Software Development 2009-2013 Forecast and Analysis" expatiates on the current status of the China-based offshore software development market as well as vendor rankings. According to the study, IDC calculates that the China-based offshore software development market reached US$2.4 billion in 2008, an increase of 22.1% over 2007. The market is expected to grow at a 23.0% compound annual growth rate (CAGR) from 2008 to 2013, with business originating from European and North American clients expected to grow faster at 30.6% CAGR.

"Under cost pressure, more sophisticated projects are to be released through offshore models. Companies with sound financial status, effective business strategies, and continuous innovation are taking this recession as an opportunity to stand out and establish a leading position in the increasingly competitive market," says Vivian Yu, senior analyst, Software and Services, IDC China.

Chris Chen, Chairman and Chief Executive Officer of VanceInfo, commented, "We are pleased that VanceInfo is once again ranked as the top China-based offshore software development company for North American and European markets. It further validates our leadership in this market and highlights our ability to expand market share. I would like to thank all of our employees for contributing to our healthy growth against the backdrop of a global economic slowdown. We will continue to strive for expanding relationships with domestic and multinational partners, delivering quality results for our clients, and consolidating our industry leading position. We look forward to achieving more top honors in the forthcoming years."

About VanceInfo

VanceInfo Technologies Inc. is an IT service provider and one of the leading offshore software development companies in China. VanceInfo was the first China software development outsourcer listed on the New York Stock Exchange.

The Company ranked number one among China-based offshore software development service providers for the North American and European markets as measured by 2008 revenues, according to International Data Corporation.

VanceInfo's comprehensive range of IT services includes research & development services, enterprise solutions, application development & maintenance, quality assurance & testing, and globalization & localization. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan, and China, targeting high-growth industries such as technology, telecommunications, financial services, manufacturing, retail, and distribution.

Safe Harbor

This news release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, should, expects, anticipates, future, intends, plans, believes, estimates, and similar statements. Among other things, the management's quotations contain forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include, but are not limited to, the company's dependence on a limited number of clients for a significant portion of its revenues, the economic slowdown in its principal geographic markets, the quality and portfolio of its services lines and industry expertise, and the availability of a large talent pool in China and supply of qualified professionals, as well as the PRC government's investment in infrastructure construction and adoption of various incentives in the IT service industry. Further information regarding these and other risks is included in VanceInfo's filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in the attachments is as of June 22, 2009, and VanceInfo does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

SOURCE VanceInfo Technologies Inc.

Source: PR Newswire

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