RELEX Group summed up its work in fiscal year 2007-2008

In its eighteenth fiscal year RELEX Group has demonstrated a steady financial growth, both in gross revenue and profit, far exceeding the planned growth. The overall growth is 41% relative to the previous fiscal year. For comparison, in 2006-2007, RELEX demonstrated a 29% growth.

A major share of the RELEX Group revenue is generated from custom software development. This year RELEX experts indicate that the number of Russian clients is growing, and the company is performing almost as many projects for them as for overseas customers.

Another strategically important activity of the RELEX Group is DBMS Linter development. In fiscal year 2007-2008, besides government organizations that traditionally use Linter, some application software development companies have shown interest in the system. Several partnership agreements have been signed in order to integrate applications with DBMS Linter. The Linter sales have risen by 18%. Besides, our dealer network has been working more efficiently, increasing its sales by 40%.

Considering the overall growth of financial showings, we should mention that in 2007-2008, for the first time during the last ten years, the increase in the number of employees at RELEX was less than 7%, and the staff attrition rate lowered 1,5 times, despite the rapid development of the IT market in the region.

According to the RELEX Board of Directors, among the key factors of growth are the steady client base and a stable portfolio of projects that allows planning further development of the company. Today among the RELEX customers are major state and private Russian companies, such as "Surgutneftegaz", "Open Technologies", MMG, "Morinsis-Agat", FGUP NIITP, the Russian Federal Nuclear Center etc.

Gennady Filatov, Vice-President of RELEX: "We are satisfied with the company's work and growth figures. The most encouraging fact is that RELEX is not only demonstrating stable growth, but also increasing the growth rate from year to year. Some statistics for confirmation: starting from year 1998 marked by an economic crisis in Russia, the growth rate of RELEX Group has never been below 15%, and during the last five years it has been 25% and higher. Thus, we can say for sure that RELEX is growing faster than the Russian IT market".