Sberbank’s plans for this summer rollout are to extend access to the Virtual School of Sberbank to more than 20,000 management-level employees. The goals of this second phase will be to form a unique knowledge base, provide usage of a single standards model, spread and scale best business practices, and to set up and launch a new, unified corporate culture. The last phase of the initial rollout is scheduled for December.“Saba is pleased to have the opportunity to meet the needs of Russia’s largest bank, Sberbank,” said Leo Hanna, senior vice president and general manager, EMEA at Saba. “Our people-centric learning platform is enabling them to scale across branches and geographies to provide their employees with numerous new kinds of people development opportunities. We’re excited about our continued work with Sberbank as it leverages our robust solution to accelerate its workforce transformation through the use of formal and informal learning and training programs.” Supporting Resources
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This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, Sberbank’s plans for an initial three-phased rollout of Saba. The actual plans to rollout Saba, or the timing or outcome of the rollout, could differ materially from those expressed in any forward-looking statements. Readers should refer to the section entitled "Risk Factors" in the Form 10-K for the fiscal year ended May 31, 2011, and similar disclosures in subsequent reports filed with the SEC. In addition, Saba faces additional risks and uncertainties, including risks that could affect its ability to complete the restatement of its historical financial statements, file its delayed annual report on Form 10-K and periodic reports on Form 10-Qs, regain compliance with the NASDAQ listing requirements, and access credit facilities. The forward-looking statements and risks stated in this press release are based on information available to Saba today. Saba assumes no obligation to update them.