Bleum Inc. announced today that it has been named the number one company in the Top 10 to Watch in China category as part of the first annual Offshore 100 ranking of top global suppliers by Managing Offshore and offshore outsourcing advisory expert neoIT. Bleum was also named among the top four companies in the Top Rookies in Global Outsourcing. An awards ceremony will be held on January 19, 2005 at neoIT’s Annual Global Outsourcing Conference at the Metropolitan Hotel in New York City. At the January awards event Eugene Kublanov, Vice President of Corporate Development for neoIT, and Rusty Weston, Editor of Managing Offshore, will present the findings of the study that ranked global ITO (information technology outsourcing) and BPO (business process outsourcing) suppliers. This is the first year that Managing Offshore and neoIT have issued the rankings. A complete list appears in the January 2005 issue of Managing Offshore and online at www.theoffshore100.com.

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Based in Shanghai, Bleum is uniquely positioned in China by combining a world-class, CMM Level 4 development process (with plans to reach Level 5 in early 2005), top development skills from China, international experience, all under U.S. management. Services range from managing dedicated offshore development centers to developing single applications to specific functions including software testing. Bleum is currently successfully managing development teams for leading U.S. and U.K. companies in the fields of financial services, information technology and telecommunications.

“We are honored to be included in such a prestigious list, and thrilled to have been ranked number one in the Top 10 to Watch in China category and to have been included in the top four Top Rookies in Global Outsourcing category” said Bleum CEO, Eric Rongley. “China is rapidly developing as a primary destination for companies outsourcing software development and Bleum has emerged as one of China’s most professional and trusted providers. By outsourcing to China, international companies are able to access the world’s fastest growing market of IT professionals and align their software outsourcing with their Asia/China business development.”

“The ranking reflects the growing strength of the global outsourcing industry,” stated Vice President of neoIT, Eugene Kublanov. “The Offshore 100 firms are witnessing the tangible effects of the offshoring trend representing over $90 billion in outsourcing revenues, and growing at a compounded annual rate of 20% from 2003 to 2005.”

Over 250 data points were analyzed from a wide range of service providers that included large multi-national firms, emerging BPO providers and small domestic IT services firms. The data points were clustered in four categories that included general company information, client data, operational capabilities and human resource policies. Respondents to the survey included firms from 13 countries around the world representing many of the most popular offshoring destinations such as India, The Philippines, China, Russia, Malaysia and Mexico.

“neoIT and Managing Offshore created the Offshore 100 to identify the global universe of ITO and BPO suppliers,” noted Managing Offshore’s Editor Rusty Weston. “The Offshore 100 is the first study of its kind that goes beyond an alphabetical database of global suppliers. We have created ranked sub lists from the universe of the Offshore 100 that identify leaders in various categories such as the top 5 companies to watch south of the border and the top 10 rookies to watch in 2005.”

About CMP’s Managing Offshore

CMP Media's Managing Offshore (www.ManagingOffshore.com) is a monthly newsletter for global-sourcing managers. Subscriptions to Managing Offshore include 12 monthly issues plus unlimited access to a library of previous issues, articles in HTML format, and bonus downloads such as exclusive research reports. Managing Offshore also produces the exclusive Managing Offshore Index, an interactive stock listing of 20 of the most influential providers of offshore services.

About neoIT

neoIT is the leading offshore advisory and management firm. neoIT focuses exclusively on assisting companies in maximizing their returns from the offshore sourcing of both information technology and business processes on either a project or enterprise wide basis. neoIT solutions deliver results in the form of cost savings, improved governance, reductions in sourcing process time and decreased risks with offshore supplier partnerships or own operations. neoIT‘s clients for offshore advisory and management include leading Global 5000 firms in financial services, insurance, healthcare, telecommunications, utilities, oil and gas, consumer goods, logistics, retail, entertainment, manufacturing and other industry sectors. For more information, visit www.neoit.com.

About Bleum Inc.

Based in Shanghai, Bleum is one of China’s leading providers of offshore software outsourcing services.Bleum is uniquely positionedby combining a world-class, CMM Level 4 development process (with plans to reach Level 5 in early 2005), top development skills from China, international experience, all under U.S. management. Services range from managing dedicated offshore development centers to developing single applications to specific functions including software testing. Bleum is currently successfully managing development teams for leading U.S. and U.K. companies in the fields of financial services, information technology and telecommunications. Bleum’s worldwide headquarters are in Shanghai, China and U.S. headquarters are in San Francisco, California. (Additional information is available at www.bleum.com).