MOSCOW, March 23 /PRNewswire/ --

- IT to Be Russia's Next Natural Resource

Russia is set to leap-frog onto the list of the world's top ten leaders in information technology through a groundbreaking government program that will put the IT industry on an accelerated development track. The initiative will systematically leverage Russia's historical technical superiority to break the dependency on energy exports as the country's principal source of national income.

At 25% annual growth and with software exports growing at 40%-50% annually, IT is already outpacing every other sector of the economy. The government will add impetus through a comprehensive tax and legal reform. It will include free economic zones and the creation of a national network of technoparks to replicate the success of California's Silicon Valley and India's Bangalore.

"With the right push IT can become Russia's next natural resource," says Leonid Reiman, Minister of Information Technology and Communications (Mininformsvyaz), who is spearheading the government effort. "IT will catalyze other industries and become a key engine of national economic and social development."

Mr. Reiman will put the government's plan on foreign display for the first time at the 8th Annual Russian Economic Forum in London April 10-12. A press conference is scheduled for 11:00 a.m. April 12 at the Queen Elizabeth II Conference Center.

Mr. Reiman will be available for interviews upon request. Please contact Mininformsvyaz Public Relations specialist Maria Drinberg: m.drinberg@minsvyaz.ru.

Press Conference

11 a.m., April 12, 2005

Queen Elizabeth II Conference Center

London, UK

Maria Drinberg of Ministry of Information Technology and Communications, +7-095-102-9847, or m.drinberg@minsvyaz.ru