HiSoft Announces Completion of Largest Investment in IT Outsourcing Space and Appointment of New CEO -- Positioned for the Next 5-year Vision

HiSoft Announces Completion of Largest Investment in IT Outsourcing Space and Appointment of New CEO -- Positioned for the Next 5-year Vision

July 12, 2006

    BEIJING, July 12 /Xinhua-PRNewswire/ -- HiSoft
Technology International, a leading IT services provider
with offices in China, Japan, and the U.S., announced today
the completion of Series-B International Financing.  This is
the largest investment in China's IT outsourcing service
industry to date.   The investment is led by Granite Global
Ventures (GGV) with new investment from Draper Fisher
Jurvetson ePlanet Ventures, Mitsubishi UFJ Securities (HK)
Capital Limited and Sumitomo Corporation Equity Asia
Limited.  The Company also announced the appointment of Mr.
Loh Tiak Koon as the company's new Chief Executive Officer
and a member of the Company's Board of Directors.

    Loh will succeed Mr. Li Yuan-Ming, a key founder,
Chairman and Chief Executive Officer of HiSoft since 1996.
Li, who will remain Chairman of the Board, recruited Loh to
join the Company.  The visionary Li shared, "HiSoft is
celebrating its 10th anniversary this year, we are very
proud that we have achieved our first 5-year vision of
being the top 10 companies in this space in Dalian and the
second 5-year vision of being the top 10 in China.  With
Mr. Loh on board, his wealth of international experience
will help propel the Company forward in the global market,
and to achieve our third 5-year vision of being top 10 in
the World." 

    Loh brings with him over 20 years of global market
experience in leading IT companies.  Before joining HiSoft,
Loh was Hewlett-Packard's Corporate Vice-President
responsible for Hewlett-Packard's China and Hong Kong
services business, which includes technical services,
integration, outsourcing and consulting.  A highly
competent leader, Loh has demonstrated his ability to
leverage companies and steer them into new growth mode,
resulting in significantly improved shareholder value.
During his leadership as Chief Executive Officer of Vanda
Systems & Communications Holdings Limited, Vanda
Systems merged with Hutchinson Global Communications and
PowerCom to become a technology powerhouse.  Loh was also
Chief Executive Officer of Cap Gemini in Asia Pacific.  He
started his career at IBM, and subsequently Lotus
Professional Services, serving various senior management
and sales positions in the Asia Pacific region.  

    "HiSoft has a highly-skilled workforce and mature
delivery capabilities, which build upon our experience as
the first Global Development Centre (GDC) for GE in China,
and on our track record running offshore development
centres for other multinationals.  We are in the best
position to offer world class outsourcing and off-shoring
services to international companies which target China as a
domestic market and as an alternative service base to their
providers in India," said Loh. 

    The new round of financing follows the Series-A
investments in HiSoft in 2004, when investments were made
by Granite Global Ventures (GGV), Intel Capital, Granite
Global Ventures, International Finance Corporation (IFC)
and JAFCO Asia.  Series-B investment will be used to
further strengthen HiSoft's management and delivery teams
as well as to pursue organic and inorganic growth.

    With strong teams, proven processes and systems, and a
strong financial backing, HiSoft is well poised to achieve
its 5-year vision of being top 10 in the World. "As we
progress, our clients will benefit from the value of
partnering with a World Chinese leader, our shareholders
will enjoy the financial returns, our competitors will see
a leader who define a healthy industry in China and our
employees will be proud and rewarded members of a
successful company!" said the confident Li and Loh.

    About HiSoft 

    HiSoft Technology International Ltd. is an IT service
provider with offices in China, Japan, and the U.S. With
over 1,800 IT resources, comprehensive solutions platform,
and mature delivery model, HiSoft has rapidly grown to
become one of China's leading IT Service Company.  HiSoft
focuses on localization & testing, application
development & management, and enterprise solutions
consulting & implementation. For more information,
please visit http://www.hisoft.com or contact us at
[e-mail] .

    For more information, please contact:

     Greg Ho
     HiSoft Technology International Ltd. 
     Tel:   [phone]
     Email: [e-mail] 

SOURCE  HiSoft Technology International Ltd.