Lawrenceville, NJ -- (ReleaseWire) -- 10/23/2007 -- EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, has - for the fourth year running - been included in the Software 500 list, Software Magazine's 25th anniversary ranking of the world's largest software and services providers.

This year, EPAM has been named among the top 10 companies in the $30 M - $100 M revenue range and in its four years on the Software 500 list EPAM has increased revenue by 75% moving up 128 positions to reach No. 227 in 2007.

"The 2007 Software 500 results show that growth in the software and services industry was healthy from 2006 to 2007, the ranking year," said John P. Desmond, editor of Software Magazine and Softwaremag.com. According to the survey, the worldwide application development, maintenance and management services sector demonstrates growth of 3.5%. Compared to last year, when the total Software 500 revenue was $381 billion, the 2007 survey evidences $394 billion in the total revenue for 2006. "The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners. It is a quick reference of vendor viability. That is content of value," Desmond said. This year the prestigious ranking has been augmented with 132 new fast growing companies.

"Repeatedly making the list of the world's largest software and services providers is indicative of EPAM's notable business progress," commented Arkadiy Dobkin, EPAM CEO and President, on the company's recognition. "EPAM's proven performance is not confined only to financial growth indicators. A significant influx of quality software engineering talent and a blue-chip customer base also benchmark EPAM's success as an employer as well as a premium software engineering outsourcing partner. We would like to extend our gratitude to the EPAM partners, clients, and employees for their invaluable contribution in helping EPAM become a market leader."

ABOUT DIGITAL SOFTWARE MAGAZINE, THE SOFTWARE DECISION JOURNAL, AND SOFTWAREMAG.COM
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for nearly 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies, now in its 25th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co. http://www.softwaremag.com

ABOUT EPAM SYSTEMS
New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Oracle/Hyperion. http://www.epam.com

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Lawrenceville, NJ -- (ReleaseWire) -- 09/12/2007 -- EPAM Systems, Inc., the leading global software engineering outsourcing provider with offshore software development centers in Central/Eastern Europe and Russia, announced today that EPAM Russia Business Application Development Center has been independently assessed by Software Engineering Institute-certified experts and rated at the Capability Maturity Model Integration (CMMI) Level 4.

The EPAM development center in Belarus achieved this appraisal in 2003 and was one of the pioneer software development organizations in Eastern Europe with CMMI assessments. The attainment of this high rating by EPAM Russia sets EPAM apart from its regional competitors in the number of certified development locations.

The scope of the assessment included business application development, process improvement and human resource functions. It was performed by a team headed by Jacques Joubert, SEI authorized SCAMPI (Standard CMMI Appraisal Method for Process Improvement) Lead Appraiser. RUSSEE, SEI Partner company, provided consulting services.

Speaking on the occasion, Mr. Joubert noted: "I was very pleased to assess the EPAM organization where I found an ambience of friendship and productive collaboration. I was first impressed by not only the commitment to success but also the matching ability to execute, which is every bit as good as at Western Europe's leading organizations where I am used to lead appraisals. For me EPAM's most impressive achievement is the institutionalization of quantitative management in all aspects of projects enforced through their internal SDLC tools and the large eco-system of exceptional extensions from industry base-line systems. During the appraisal, I was also particularly impressed by the professionalism of EPAM's SCAMPI team members."

About EPAM Systems

New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
http://www.epam.com

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Lawrenceville, NJ -- (ReleaseWire) -- 08/31/2007 -- EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central/Eastern Europe and Russia, has won an International Stevie® Award as the "Best MIS & IT Organization" in The 2007 International Business Awards program.

The International Business Awards are the only global, all-encompassing business awards program honoring great performances in business. Companies from all over the world were eligible to compete in any of more than 40 categories. Recipients of 98 International Stevie Award trophies were selected from more than 1,000 nominations received from companies and individuals from more than 30 countries including Australia, Belgium, Canada, China, Cyprus, the Czech Republic, Denmark, France, Germany, India, Indonesia, Italy, Luxembourg, Singapore, South Africa, South Korea, Spain, Switzerland, Syria, Thailand, The Netherlands, Turkey, the U.S.A., and the United Kingdom.

Already in its first year of participation EPAM was honored with this prestigious Award having received the highest average scores from the Awards' Board of Distinguished Judges & Advisors who acknowledged EPAM's unmatched technical advancement and MIS & IT best practices.

Balazs Fejes, EPAM CTO, commented upon the achievement: "We are very proud that our company's success and leadership were awarded with a Stevie, the trophy of The International Business Awards. Our focus on delivering high-end software on a global scale obliges our internal MIS & IT to be truly effective, reliable and innovative. Our Global IT Infrastructure's security, efficiency and compliance with the world's top standards are what made EPAM the winner of this Award. Our huge investment into development of Best-in-Class internal systems is repaid a hundredfold winning new and expanding relationships with the existing clients and letting EPAM successfully deliver the most complex software engineering projects."

Complete lists of International Stevie winners and other details are available at www.stevieawards.com/iba.

About The Stevie Awards

Hailed as "the business world's own Oscars" by the New York Post (April 27, 2005), Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, The Stevie Awards for Women in Business, and the Selling Power Sales Excellence Awards. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.

About EPAM Systems

New-Jersey based EPAM Systems is independently recognized as a leading global provider of software development outsourcing services. With offshore software development centers in Russia, Hungary, Belarus, and Ukraine, EPAM offers the largest resource pool in Central/Eastern Europe and Russia combined with the strongest onsite management and delivery capabilities in North America and Europe.

In "The 2007 Global Outsourcing 100" EPAM was rated the top Central/Eastern European and Russian ITO service provider and was the only CEE/Russian IT outsourcer included in the Leaders category. EPAM is also the sole CEE/Russian IT outsourcing company listed on "The 2007 Top 50 Best Managed Outsourcing Vendors".

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
http://www.epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Lawrenceville, NJ -- (ReleaseWire) -- 06/28/2007 -- EPAM Systems, Inc., the leading global offshore software engineering outsourcing provider with development centers in Central and Eastern Europe, for the second year running has made the list of the annual "2007 Top 50 Best Managed Global Outsourcing Vendors" compiled by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm, author of "The Black Book of Outsourcing". Singled out from the pool of 1480 qualified global outsourcing vendors, the current year rankings identify the top 50 vendors via scoring as assessed by the clients and incorporate the results of The Black Book's electronic survey conducted with the purpose to draw out the outsourcing service purchasers' experience with regard to service providers globally.

EPAM's clients responded that the company is their top-choice provider for the second year running. With majority of its development workforce located across Central and Eastern Europe (including Russia, Belarus, Hungary, and Ukraine), EPAM is the only regional outsourcing service provider who has retained a consecutive 2007 inclusion into the 50 Best Managed rating. Having demonstrated consistent strength in four survey areas such as human capital performance, C-Level commitment, corporate direction, and leadership impact, the company has been specifically commended for responsiveness to the client needs, which "sets EPAM apart as the top-ranking Russian outsourcing company". EPAM has also been noted as a "leading choice with IT offshore development buyers" with "strong consultative approach in solving engagement issues".

Besides naming the 50 best managed outsourcing vendors, the study, recognized as the only industry standard for unbiased customer satisfaction in the global services market, also delves into industry trends and client-vendor relationships and serves as a guide for the companies that are shopping for an outsourcing supplier, as well as for the suppliers helping them identify weaknesses and areas for growth. Brown-Wilson Group, in coordination with its research effort, ranked outsourcing vendors according to responses by nearly 17,000 executives and others involved in outsourcing decision-making about their experience and satisfaction with their current suppliers. The survey participation was voluntary and anonymous.

A closer look at leading outsourcing vendors as identified by the "The Black Book of Outsourcing" study - including the top-ranked outsourcing advisors and the most desirable locations for outsourcing – has been published in the Dow Jones flagship publication, The Wall Street Journal Online.

"Reconfirming our status of one of the best 50 global outsourcing vendors named to the list together with many undisputable market leaders is a great honor for us," stated Arkadiy Dobkin, EPAM CEO and President. "Our clients' recognition reflected in the survey results attests to EPAM's strong capabilities to deliver optimal business value that extends beyond the cost-saving benefits associated with IT outsourcing from Russia and other locations in Central and Eastern Europe".

About the Black Book Top Outsourcing Vendors & Top Advisors Rankings
The Black Book initiative sponsors the only annual, independent, non-biased ranking of 300 outsourcing advisors and 4,500 vendors as completely scored from over 20,000 outsourcing users' and clients' ballots. The Top 50 Best Managed Global Outsourcing Vendors ranking is based on a twenty-six measures of leadership excellence, including client satisfaction with senior management direction, leadership impact on outsourcing results, business transformation practices, client relations management, and indicators of C-Level officer commitment. Sublists in twelve categories of outsourcing, cover over 500 outsourcing functions, in 40 industries, from multiple organization sizes and locations. Sublists are rankings based on eighteen criteria of operational excellence and client satisfaction with outcomes. Surveys are conducted each year, currently in its fourth update, beginning in March with results announced in June.
http://www.brown-wilson.com
http://www.theblackbookofoutsourcing.com

About EPAM Systems
Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
htt://www.epam.com

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Lawrenceville, NJ -- (ReleaseWire) -- 06/20/2007 -- EPAM Systems, Inc., the leading global offshore software engineering provider with development centers in Central and Eastern Europe, has been rated among North America's largest IT solution providers, integrators and services companies by CMP Technology's VARBusiness magazine. Assessed by the gross worldwide revenue to be included in the definitive VARBusiness 500 listing, EPAM has been honored with the "Top Technology Practices Award for Business Intelligence Software" at the 7th Annual VARBusiness 500 Conference and Awards event.

The VARBusiness 500 companies were selected based on 2006 fiscal year revenue generated by the sale of IT goods (software and hardware), software licensing, custom software sales, as well as professional services and managed services with the combined annual revenue making up $344 billion. The financial data of the reviewed companies was vetted and cross-checked against independent sources, including Hoovers and Dun & Bradstreet.

For the first time in its 12-year history the 2007 VARBusiness 500 has welcomed a record number of newcomers – 113. Ranked 281 for its first year on the list, EPAM has also been included in the 50 Fastest-Growing 2007 VARBusiness 500 Companies, demonstrating rapid growth with a 2005 to 2006 revenue increase of 75.0%.

The VARBusiness 500 has been accompanied by a special research conducted among the companies, nearly 55 percent of which provided detailed account of their technology focus, peer and vendor partnerships, growth opportunities, staffing trends, and vertical specializations.

"Current technology and market drivers are resulting in exponential increases in the volume of data that corporations need to leverage to their advantage. It is ever more critical that these organizations have timely and effective means to store, manage, and report on this data, so it can truly be used as "Business Intelligence," noted Arkadiy Dobkin, EPAM CEO and President. "This award is a further testament to EPAM's BI and KM capabilities that deliver tangible results to many clients across North America and Europe. We are proud to be recognized among top services providers in this area."

About VARBusiness

For the past 20 years, VARBusiness' strategic resources have been the gateway to the commercial and public sector (or government) Solution Provider community. The VARBusiness integrated platform of media opportunities provides strategic insight for technology integrators through industry-defining research, in-depth editorial, channel events and innovative Web services, enabling these IT professionals to make educated decisions for their businesses, partnerships and customers. VARBusiness offerings lead vendors and distributors to unprecedented access to the most powerful strategic Solution Providers in the market. VARBusiness has been the recipient of numerous industry awards for both editorial content and design.
http://www.varbusiness.com

About EPAM Systems

Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. In 2006 EPAM was selected No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the "Top 50 Best Managed Outsourcing Vendors" study. In April 2007, EPAM was rated the top Eastern European ITO service provider within "The 2007 Global Outsourcing 100" and included in the Leaders category as the only regional IT outsourcer.

The company possesses the largest resource pool in Central and Eastern Europe and boasts the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.
http://www.epam.com

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Lawrenceville, NJ -- (ReleaseWire) -- 05/18/2007 -- EPAM Systems, Inc., the leading global offshore software development services company with development centers in Central / Eastern Europe and Russia, has been named one of the world's best outsourcing service providers on "The 2007 Global Outsourcing 100" annual rating developed by the International Association of Outsourcing Professionals (IAOP). Additionally, EPAM is listed among the top outsourcing providers serving Software and Technology companies.

"The Global Outsourcing 100" and its sub-lists, featuring both today's Leaders and tomorrow's Rising Stars, have been specifically elaborated for companies seeking new and expanded relationships with the best companies in the outsourcing industry. The list includes companies from around the world providing the full spectrum of outsourcing services: information technology and business process outsourcing, as well as facility services, real estate and capital asset management, manufacturing, and logistics. The outsourcing service providers are ranked according to 18 criteria, including revenue, growth, number of employees, the skills and training of their workforce, number of technical and business certifications they secured, the track record of the management team, and quality of customer service.

Recognized for such strengths as size and growth, customer references, as well as management capabilities, EPAM Systems has made a leap from a Rising star in 2006, ranking 79, to a Leader in 2007, ranking 55, being the only software development outsourcer from Eastern Europe and Russia featured in the Leaders list.

"Being acknowledged by the International Association of Outsourcing Professionals as one of the world's top offshore outsourcing providers for two years in a row is a great honour for EPAM," commented on the company's recognition Arkadiy Dobkin, EPAM CEO and President. "We are very proud to be awarded the Leader status this year which attests to our demonstrated capability to provide value to our customers through mature software development outsourcing processes."

About IAOP
The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 500 organizations from around the world representing almost every industry segment and functional activity. These members are responsible for more than $60 million in annual outsourcing spending. In total, more than 40,000 individuals working in the field of outsourcing are members or users of the association's services.

http://www.outsourcingprofessional.org

About EPAM Systems
Founded in 1993, EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in software development outsourcing. Both in 2005 and 2006 EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by Global Services Magazine and neoIT. In 2006 EPAM was also named No.1 of "Top 10 ITO Offshore: Eastern/Central Europe" and No.3 of the global "Top 10 ITO: Specialty Application Development" within the Top 50 Best Managed Outsourcing Vendors study.

The company possesses the largest resource pool in Central / Eastern Europe and Russia and the strongest onsite presence in the US and EU: its offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft, and Hyperion.

http://www.epam.com

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EPAM wins as the No.1 of “Top 10 ITO Offshore: Eastern/Central Europe” and the No.1 of "Top 10 ITO: Portals & Enterprise Content Management" within “Top 50 Best Managed Outsourcing Vendors” survey

Lawrenceville, NJ -- (ReleaseWire) -- 03/19/2007 -- EPAM Systems, Inc., the leading global offshore software development services company with development centers in Central and Eastern Europe, has been honored with a series of awards from the "Top 50 Best Managed Outsourcing Vendors" initiative. The rank was based on a comprehensive survey and analysis of 872 outsourcing vendors in 63 countries conducted by Brown-Wilson Group, a not-for-profit outsourcing management consulting firm, the author of "The Black Book of Outsourcing".

Following its inclusion in "50 Best Managed Outsourcing Vendors", EPAM has been selected the best-of-breed software engineering services provider in the sub-lists of "Top 10 ITO Offshore: Eastern/Central Europe" and "Top 10 ITO: Portals & Enterprise Content Management". In addition, the company has been listed in such categories as "Top 10 ITO: Specialty Application Development" and "Top 10 ITO: Data Warehousing, Data Mining & Business Intelligence" outranking a number of IT and offshore software development stalwarts globally.

"We were impressed with the outcome of the survey that had yielded remarkable responses helping to screen the 50 global top performing vendors, with the alignment of forces sometimes significantly differing from that of the mainstream," said Doug Brown, the co-author of "The Black Book of Outsourcing". "The notable fact is that we stayed completely unbiased and only had to tally the satisfaction ratings. EPAM's clients had stated their choice by rating the company so highly. The admirable position within a number of sub-categories of the "Top 50 Best Managed Outsourcing Vendors" testifies to the company's outstanding capability to deliver offshore software development services and solutions to the client's best satisfaction. Congratulations!"

"Responsiveness to customer needs and focus on providing premier offshore software development services are among the main priorities that drive our company's performance," commented Arkadiy Dobkin, EPAM CEO and President on EPAM's success. "We are extremely grateful to our clients and partners, who have shown trust in EPAM and afforded us the unique opportunity to be of service and value to them".

About Brown-Wilson Group
The Brown & Wilson Group has established the reputation of being the world's leading offshoring advisory, and the producer of the trusted annual ranking of the Top 50 "Best Managed" Global Outsourcing Vendors.

The Black Book of Outsourcing 2006 survey was distributed electronically to customers, employees, buyers, contractors and users worldwide. The respondents answered 26 questions on leadership impact, influence, management performance, client satisfaction, employee satisfaction and organizational excellence amongst IT outsourcing and BPO companies. Additionally, the surveyed expressed their views on innovation, growth, internal management practices and global results.

http://www.brown-wilson.com
http://www.theblackbookofoutsourcing.com

About EPAM Systems
EPAM Systems is independently recognized as a global service provider that demonstrates leadership, innovation and outstanding performance in Information Technology Outsourcing. Founded in 1993, EPAM leads in software outsourcing technical excellence, quality assurance and proven experience of delivering leading edge services for clients globally. The company's offshore software development centers located across Russia, Hungary, Belarus, and Ukraine work in synergy with the client facing support and delivery operations in US, UK and Germany.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperion.

http://www.epam.com

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The new status provides greater opportunity for EPAM to build new relationships and expand its market reach

Lawrenceville, NJ -- (ReleaseWire) -- 12/04/2006 -- EPAM Systems, Inc. (www.epam.com), a leading global software services company, independently recognized as the #1 IT outsourcing provider in Central and Eastern Europe, has been included in the Hyperion Global Partner Program and awarded the "Hyperion Affiliate Consulting Partner" status by Hyperion Solutions Corporation (NASDAQ: HYSL), the global leader in Business Performance Management software.

EPAM has been a proven vendor to Hyperion since 2002, providing development, testing, maintenance, and consulting services to the company. As a result of the joint effort, in May 2006 the two companies signed a multiyear contract by which EPAM is to continue supporting Hyperion's specialized solutions development, as well as providing key integration services.

As a Hyperion Affiliate Consulting partner, EPAM shall enjoy a broader scope of service delivery capabilities that will involve the Hyperion products implementation and consulting. This translates into greater opportunity for EPAM to build new relationships and expand its market reach. The awarded status also emphasizes the companies' commitment to consolidate their strengths to help customers achieve breakthrough performance by capitalizing on Business Performance Management (BPM) solutions and Business Intelligence (BI) software.

"The Hyperion Affiliate Consulting Partner status is a remarkable milestone in our evolving relationship with Hyperion. It is an honor for us to become a part of the Hyperion Global Partner Program and be recognized by Hyperion as a company "committed to superior customer service and seeking to maximize market opportunities through a collaborative and flexible approach to partnering," commented Arkadiy Dobkin, EPAM CEO and President." We are happy to be able to leverage our knowledge of the Hyperion technology and products to promote, build, and provide the benefits of BPM solutions and BI software to customers."

About Hyperion

Hyperion Solutions Corporation (Nasdaq Global Select: HYSL) is the global leader in Business Performance Management software. More than 12,000 customers in 90 countries rely on Hyperion both for insight into current business performance and to drive performance improvement. With Hyperion software, businesses collect, analyze and share data across the organization, linking strategies to plans and monitoring execution against goals. Hyperion integrates financial management applications with a business intelligence platform into a single management system for the global enterprise.
www.hyperion.com

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperion.
www.epam.com

For further information, please contact: press@epam.com

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Lawrenceville, NJ -- (ReleaseWire) -- 11/01/2006 -- EPAM Systems (www.epam.com), the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, has made the top 300 of the Software 500, Software Magazine's 24th annual ranking of the world's largest software and services providers.

The Software 500 helps CIOs, senior IT managers and IT staff research and shortlist business partners. The ranking is based on companies' total worldwide software and services revenue for 2005. Although the overall Software 500 results show that growth in the software and services industry was flat from 2004 to 2005, the ranking year, EPAM has demonstrated strong revenue growth and made a leap to the 272nd position.

"The fact that EPAM has been recognized among the world's foremost software product and services vendors for the third consecutive year and advances to a higher position year after year testifies to EPAM's maturity in delivering high quality software engineering outsourcing services," said Arkadiy Dobkin, EPAM CEO and President. "It also confirms our ability to successfully manage the company's rapid growth while consistently exceeding the expectations of our growing customer base".

The Software 500 is searchable by primary business sector on www.Softwaremag.com, free to all site registrants.

About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for nearly 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies, now in its 24th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
www.Softwaremag.com

About EPAM Systems
EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers with development centers in Central and Eastern Europe on the "Global Services 100" list by neoIT and Global Services Magazine. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Hungary, Belarus, and Ukraine.
EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperion
www.epam.com

For further information, please contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

London, UK -- (ReleaseWire) -- 10/31/2006 -- EPAM Systems (http://www.epam.com) announced that it became the only software development company from Central and Eastern Europe named a finalist of NOA's "IT Outsourcing Service Provider of the Year" award category. The other two shortlisted contestants included Wipro Technologies and LogicaCMG, with Wipro winning the award.

NOA (National Outsourcing Association) is a UK independent 'not-for-profit' body whose objective is to leverage effective outsourcing by promoting best practices, service and innovation in the application and development of outsourcing. The 2006 NOA Awards for Best Practice in Outsourcing are presented in association with the OUT Group and Outsource Magazine and reward innovation and achievement by suppliers, users and integrated teams within the outsourcing industry. The recognition follows evaluations by an independent panel of judges who selected the winners demonstrating outstanding excellence in outsourcing with measurable outcomes.

Commenting on the NOA awards, Karl Robb, Executive Vice-President of EPAM Systems Inc., and President of EPAM Europe, said: "Our staff feels proud and much honored to be listed as a finalist for the most coveted category of NOA's awards. As Central and Eastern Europe's largest IT outsourcing provider with primarily large, complex, mission-critical software engineering projects within Telcos, Financial institutions, Airlines and larger software vendors, this independent recognition based on objective judgments of professional bodies provides one valuable form of benchmark against which we can verify our own performance. This also demonstrates that a Central and Eastern European NearShore provider competes successfully with the large Indian providers as well as the European and US multi-nationals for both value and results."

National Outsourcing Association (NOA)
The NOA is an independent body whose objective is to ensure effective business management through the promotion of best practice, service and innovation in the application and development of outsourcing. The NOA's role is to lobby UK government, OFCOM and the European Union on matters affecting the collective interests of its members and to deliver information on market developments and lessons learned from business outsourcing.

The NOA communicates the significant benefits and strategic lessons of outsourcing to a wider audience, through conferences, seminars and publications.
www.noa.co.uk

About EPAM Systems
EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, William Hill, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, BEA Systems, Microsoft and Hyperion
www.epam.com

For further information, please contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

EPAM becomes stronger in both client facing and delivery capabilities as well as in senior management capacity across North America, Europe, and the former Soviet Union region

Lawrenceville, NJ and Boston, MA -- (ReleaseWire) -- 10/02/2006 -- EPAM Systems, Inc. (http://www.epam.com), a leading global software services company, independently recognized as the #1 IT outsourcing provider in Central and Eastern Europe for the last two years, and Vested Development, Inc. (http://www.vdiweb.com), one of the Top 5 Russian Software Outsourcing vendors, have announced a strategic merger.

The combined company, which will operate under the EPAM Systems name, will employ over 2,200 software professionals across eight countries and exceed a $70 million revenue run rate. By combining the operations of the companies, EPAM becomes stronger in both client facing and delivery capabilities as well as in senior management capacity across North America, Europe, and the former Soviet Union region.

Arkadiy Dobkin, EPAM Chairman, CEO and co-founder, who will continue leading EPAM's operations, said: "This merger enhances EPAM's position as the leader in Central and Eastern Europe and allows EPAM to offer the strongest alternative to the current mainstream outsourcing destinations. For many years it was anticipated that the CEE region would provide a sizeable and scalable global player. This expectation has finally materialized, and we are proud that EPAM leads this wave. Critical for staff retention in an increasingly global employment market this will present even broader and larger professional growth opportunities for our employees."

Anatoly Gaverdovsky, VDI CEO, who will be heading EPAM's operations in Russia, commented on the agreement: "By combining our separate but complimentary areas of specialization and by broadening the geo-diverse talent pools, the merged company will significantly boost scalability for delivering complex software engineering projects, enhance expertise in vertical and horizontal solutions, and grant greater access to the entire regional resource pool for all our clients worldwide. For example, our office in Boston will compliment EPAM's client facing capabilities in New Jersey and Minnesota, and provide additional client and delivery support for one of the most important IT focus regions in the United States today, while our deep and highly experienced client facing operation in Moscow will better position EPAM to apply its expertise accumulated in the US and Europe to serve the increasing number of multinational companies operating in Russia and the CIS as well as large Russian corporations."

"Within the Western European markets, EPAM was already established as the #1 "NearShore" provider, but the addition of VDI's multiple Russian development locations combined with the new but rapidly growing Ukrainian operations of both EPAM and VDI, represents not only the largest resource pool available to European clients, but far and away the most balanced distribution of resources across CEE countries" – added Karl Robb, Executive VP of EPAM Systems and President of EPAM's EU business unit. Mr. Robb continued to add: "This makes EPAM the only company with significant development capacities in Hungary, Russia, Belarus and Ukraine providing all of our clients with unmatched access to the best resources across the entire region and also the most effective risk mitigation against potential localized inflation, resource shortages or geo-political risks, all of which are considered critical issues by the largest clients when evaluating which global vendors to work with".

About EPAM Systems
EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of Top 5 IT Outsourcing providers in Central and Eastern Europe on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.
www.epam.com

About Vested Development Inc.
Vested Development, Inc. (VDI) is a global onsite/offshore software development services firm with over eleven years experience in partnering with technology providers like Microsoft, IBM, and Hummingbird, as well as vertical corporations like Nestle, Mars, and many others to accelerate software development using ISO 9001-certified process methodologies.

With extensive vertical industry experience, VDI collaborates with clients to ensure development of quality business solutions. Over 400 highly skilled development resources, located across North America, Russia, and Ukraine, enable VDI to take full advantage of multiple time zones to compress delivery cycles and reduce costs while simultaneously improving quality, flexibility, and time to market.
www.vdiweb.com

For further information, please contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Based on 2 years' net sales, EPAM ranks 44 the growth rate of 143.44%

Lawrenceville, NJ -- (ReleaseWire) -- 08/24/2006 -- EPAM Systems, the leading Software Engineering Outsourcing provider with delivery centers in Central and Eastern Europe, announced today that the company has been identified by CMP Media's CRN, a vital source of information for VARs and technology integrators, as a Fast-Growth 100 company for its stellar growth and remarkable business success.

CRN's Fast-Growth 100 identifies the 100 fastest growing solution providers across all specialty areas and business models. The profiles and data developed by CRN's editorial staff provide insights into the models and technology which are proving to be the most lucrative. In the list of the Fast-Growth 100 companies whose activities range from IT consulting services to the design and implementation of networks and infrastructure EPAM Systems ranks 44 with the growth rate of 143.44% (based on 2 years' net sales, ending December 31, 2005).

"As the channel's vital resource, CRN is solely focused on the Solution Provider community. This list, created by our editorial team, recognizes the Solution Providers that have worked tirelessly to support their customers. We salute them on their superior growth," said Dan Dignam, publisher of CRN. "What makes this list so unique, and compelling, is that it represents such a large cross-section of the channel universe. What's more, this is a dynamic list. While 25 companies that were on CRN's 2005 Fast Growth 100 ranking made the grade again this year, sheer ingenuity and investment savvy propelled 75 new solution providers to growth rates worthy of the final cut."

About CRN

CRN provides Solution Providers and Technology Integrators with the crucial information and analysis they need to drive their company's sales. As an advocate for and voice of the Channel, Solution Providers turn to CRN first for immediate information. With more than 20 years of experience, CRN is the most trusted source for 117,000 channel professionals. CRN can be found on the Web at http://www.crn.com.

About CMP Media

CMP Media is a marketing solutions company serving the technology, healthcare and lifestyles industries. Through its market-leading portfolio of trusted information brands, CMP Media has earned the confidence of more professionals and enthusiasts in these fields than any other media company. As a result, CMP is the premier provider of access, insight and actionable programs designed to connect sellers and buyers in each of these industries in ways that yield superior return on investment. CMP Media is a subsidiary of United Business Media (http://www.unitedbusinessmedia.com), a global provider of news distribution and specialist information services with a market capitalization of more than $3 billion.
http://www.cmp.com

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger, and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.
www.epam.com

For further information, please contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Consulting Magazine calls the top 25 consulting industry professionals “the business world’s hot wires of knowledge transfer”

Lawrenceville, NJ -- (ReleaseWire) -- 06/02/2006 -- EPAM Systems, a leading Software Engineering Outsourcing provider (http://www.epam.com/aboutus-pr-02092006.htm) with delivery centers in Eastern Europe, today announced that Arkadiy Dobkin, EPAM President and CEO, was named one of the Top 25 Most Influential Consultants of the Year (http://www.consultingmag.com/rankings_top25.htm) by Consulting Magazine. Awarded for his outstanding achievements, Arkadiy Dobkin was listed among peers from IBM, TATA, Unisys, Accenture, Deloitte Consulting and others.

The top 25 consulting professionals were selected by a group of top consulting industry leaders forming the magazine's board of advisors that annually considers accomplishments of several hundred nominees representing firms from around the world in order to profile the strategists, technologists and management thinkers that can be defined as "the business world's hot wires of knowledge transfer".

"This year's nominees represent the breadth and depth of experiences consulting careers offer today," says Jack Sweeney, editor-in-chief of Consulting Magazine. "Our Top 25 consultant ranking is now helping expose how consultants are today energizing the world's economies".

An acknowledged pioneer of the Eastern European IT outsourcing services industry, Mr. Dobkin serves on the Board of Russoft, association of software development companies from the former Soviet Union region and in November 2004 was spotlighted as a key industry influencer in the Foreign Relations category of CRN's "Top 25 Executives" issue.

"It is an honor to receive such recognition from Consulting Magazine, but in reality, this award belongs to all EPAM people as an acknowledgement of their strong commitment to deliver outstanding results to our clients," Mr. Dobkin says. "Seeing EPAM listed among consulting industry leaders represents a great achievement for the entire region. It is clear evidence that Central and Eastern Europe are gaining global acceptance for high-value IT services in the world market".

For two consecutive years (2005 and 2006), EPAM was recognized as the Leader in Central and Eastern Europe (http://www.globalservicesmedia.com/showArticle.jhtml?articleID=177102584) and included into the global selection of "Top 10 Specialty Application Development Leaders" in the annual "Global Services 100" listing of the world's leading ITO, BPO, and customer care service providers (http://www.epam.com/aboutus-pr-02092006.htm).

About Consulting Magazine and ConsultingMag.com
Consulting Magazine is the flagship publication of the consulting profession. The magazine features the latest information on consulting careers, thought leadership, and corporate strategies. Consulting Magazine and ConsultingMag.com are published by Kennedy Information, the authority in the consulting space since 1970. Consulting Magazine also organizes Kennedy Information's Consulting Summit -- the largest annual gathering of consulting leadership in North America.
www.consultingmag.com

About EPAM Systems
EPAM Systems is a global provider of software engineering outsourcing services. Founded in 1993, EPAM maintains global headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in the UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton ,and technology leaders such as SAP, Hyperion, BEA Systems, and Microsoft.
www.epam.com

For further information, please contact press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

EPAM shall continue to support Hyperion’s specialized solutions development and key integration efforts utilizing its proven software project implementation and consulting experience

Lawrenceville, NJ -- (ReleaseWire) -- 05/16/2006 -- EPAM Systems (http://www.epam.com), the #1 software engineering services provider in Eastern Europe, and Hyperion Solutions Corporation (NASDAQ: HYSL), the global leader in Business Performance Management software, have signed a multiyear contract by which EPAM will be providing development, testing, maintenance and consulting services to Hyperion.

More than 11,000 customers rely on Hyperion software to provide visibility into how their businesses are performing and to help them plan and model to improve that performance. Using Hyperion software, customers collect data, organize and analyze it, then communicate it across the enterprise. Hyperion offers the industry's only Business Performance Management solution that integrates financial management applications with a business intelligence platform into a single system.

Since 2002, EPAM has been a proven vendor to Hyperion and to Brio Software prior to its acquisition by Hyperion. This relationship has resulted in the development of numerous software solutions for Hyperion that have met with significant market success. Under the new contract, EPAM shall continue to support Hyperion's specialized solutions development as well as key integration efforts utilizing EPAM's proven software project implementation and consulting experience.

"We are impressed with EPAM's continuous ability to engage highly skilled engineers that support the on-time delivery of enterprise grade solutions," said Matthew Bradley, vice president corporate engineering, Hyperion. "EPAM's unique experience working with leading software vendors, while understanding industry-specific businesses, has provided tangible benefits to Hyperion".

"Building long-term relationships with clients is a strategic objective for EPAM as this supports the company's success and fosters development and growth," said Arkadiy Dobkin, EPAM CEO and President. "To achieve this, we are committed to meeting customer requirements and exceeding their expectations by using proven SDLC processes and staying ahead of the curve on the latest technologies and best practices. This optimizes the development lifecycle and promotes customer-oriented values at all levels of our company. We are very proud to extend our relationship with Hyperion".

About EPAM Systems
EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-Cyber Media's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ, and European headquarters in Budapest, Hungary, as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShield, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.
www.epam.com

For further information contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

By also including the company to the sublisting - the global 30 “Top Offshoring Providers” - the Association extends the industry recognition of EPAM’s excellence in software engineering

Lawrenceville, NJ -- (ReleaseWire) -- 05/15/2006 -- EPAM Systems (www.epam.com) is proud to announce its selection to the International Association of Outsourcing Professionals' (IAOP) first-ever listing of the world's top 100 outsourcing service providers – "The Global Outsourcing 100". EPAM is listed in the category of "Top Offshoring Providers" - a distinction given to a subset of the Global 100, comprised of the world's 30 foremost providers of offshore services to US based enterprises. The sublisting will appear in the May 29th issue of FORTUNE® magazine.

The companies were selected through an extensive application process covering 18 criteria, including revenue growth, number of employees, the skills and training of their workforce, the number of technical and business certifications they have secured, the track record of the management team, and their quality of customer service.

With its strong presence in both the US and EU, geo-diverse software development and delivery centers (in Russia, Hungary, Belarus and Ukraine), exceptional expertise in a number of verticals and dynamic growth EPAM becomes a proud member of "The Top Offshoring Providers" list. "The International Association of Outsourcing Professionals is pleased to recognize EPAM Systems as one of the world's top outsourcing service providers for 2006," – noted Michael F. Corbett, Executive Director, IAOP.

Arkadiy Dobkin, EPAM CEO and President, said: "In January 2006 EPAM was named the No.1 IT outsourcing company of "Top 5 To Watch in Central and Eastern Europe" and included into the global "Top 10 Specialty Application Development Leaders" by CMP-CyberMedia and neoIT. The prestigious award from the International Association of Outsourcing Professionals extends the industry recognition of EPAM's excellence in software engineering. We are very pleased to receive this award and will continue to deliver value and integrity to our clients worldwide".

About IAOP
The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers.

About EPAM Systems
EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Lawrenceville, NJ -- (ReleaseWire) -- 05/15/2006 -- EPAM Systems (www.epam.com) is proud to announce its selection to the International Association of Outsourcing Professionals' (IAOP) first-ever listing of the world's top 100 outsourcing service providers – "The Global Outsourcing 100". EPAM is listed in the category of "Top Offshoring Providers" - a distinction given to a subset of the Global 100, comprised of the world's 30 foremost providers of offshore services to US based enterprises. The sublisting will appear in the May 29th issue of FORTUNE® magazine.

The companies were selected through an extensive application process covering 18 criteria, including revenue growth, number of employees, the skills and training of their workforce, the number of technical and business certifications they have secured, the track record of the management team, and their quality of customer service.

With its strong presence in both the US and EU, geo-diverse software development and delivery centers (in Russia, Hungary, Belarus and Ukraine), exceptional expertise in a number of verticals and dynamic growth EPAM becomes a proud member of "The Top Offshoring Providers" list. "The International Association of Outsourcing Professionals is pleased to recognize EPAM Systems as one of the world's top outsourcing service providers for 2006," – noted Michael F. Corbett, Executive Director, IAOP.

Arkadiy Dobkin, EPAM CEO and President, said: "In January 2006 EPAM was named the No.1 IT outsourcing company of "Top 5 To Watch in Central and Eastern Europe" and included into the global "Top 10 Specialty Application Development Leaders" by CMP-CyberMedia and neoIT. The prestigious award from the International Association of Outsourcing Professionals extends the industry recognition of EPAM's excellence in software engineering. We are very pleased to receive this award and will continue to deliver value and integrity to our clients worldwide".

About IAOP

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Lawrenceville, NJ -- (ReleaseWire) -- 05/15/2006 -- EPAM Systems (www.epam.com) is proud to announce its selection to the International Association of Outsourcing Professionals' (IAOP) first-ever listing of the world's top 100 outsourcing service providers – "The Global Outsourcing 100". EPAM is listed in the category of "Top Offshoring Providers" - a distinction given to a subset of the Global 100, comprised of the world's 30 foremost providers of offshore services to US based enterprises. The sublisting will appear in the May 29th issue of FORTUNE® magazine.

The companies were selected through an extensive application process covering 18 criteria, including revenue growth, number of employees, the skills and training of their workforce, the number of technical and business certifications they have secured, the track record of the management team, and their quality of customer service.

With its strong presence in both the US and EU, geo-diverse software development and delivery centers (in Russia, Hungary, Belarus and Ukraine), exceptional expertise in a number of verticals and dynamic growth EPAM becomes a proud member of "The Top Offshoring Providers" list. "The International Association of Outsourcing Professionals is pleased to recognize EPAM Systems as one of the world's top outsourcing service providers for 2006," – noted Michael F. Corbett, Executive Director, IAOP.

Arkadiy Dobkin, EPAM CEO and President, said: "In January 2006 EPAM was named the No.1 IT outsourcing company of "Top 5 To Watch in Central and Eastern Europe" and included into the global "Top 10 Specialty Application Development Leaders" by CMP-CyberMedia and neoIT. The prestigious award from the International Association of Outsourcing Professionals extends the industry recognition of EPAM's excellence in software engineering. We are very pleased to receive this award and will continue to deliver value and integrity to our clients worldwide".

About IAOP

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

This year the team competed with 5,606 international teams that represented 1,737 universities from 84 countries. In the ACM World Finals, 83 teams vied to become the world programming Champion.

The Saratov programming team members - Igor Koulkin, Roman Alexeenkov and Ivan Romanov are programming contest veterans with an admirable track record of participating in a host of school and college programming competitions, including the Russian Open Programming Championship sessions in 2005 and 2006.

"EPAM Systems, which maintains a Development Center in Saratov, chose to sponsor the Saratov State University team to help develop the undeniably high potential of the Russian software engineers. We are confident that Russian programmers have all the makings to achieve leadership in the complex software application development segment. The victory of the Saratov programming team in such a prestigious contest is a further testament to the untapped Russian programming savvy", said Serguei Laletine, EPAM Saratov Development Center Director.

"This is the second gold medal awarded to a programming team sponsored by EPAM. In 2004, the award was captured by the team of the Belarussian State University of which EPAM has been a partner for several years now. We are very proud of the Saratov team," remarks Arkadiy Dobkin, EPAM CEO and President. "This win is another example of the extraordinary skills available in Eastern Europe and Russia. It is this talent that has propelled the region and more specifically, EPAM, into one of the leading destinations for software development outsourcing".

About ACM

ACM is widely recognized as the premier organization for computing professionals, delivering resources that advance the computing and IT disciplines, enable professional development, and promote policies and research that benefit society. ACM hosts the computing industry's leading Digital Library and Guide to Computing Literature, and serves its 80,000 global members and the computing profession with journals and magazines, conferences, workshops, electronic forums, and its Career Resource Center and Professional Development Center.

http://www.acm.org

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

http://www.epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Lawrenceville, NJ -- (ReleaseWire) -- 05/15/2006 -- EPAM Systems (www.epam.com) is proud to announce its selection to the International Association of Outsourcing Professionals' (IAOP) first-ever listing of the world's top 100 outsourcing service providers – "The Global Outsourcing 100". EPAM is listed in the category of "Top Offshoring Providers" - a distinction given to a subset of the Global 100, comprised of the world's 30 foremost providers of offshore services to US based enterprises. The sublisting will appear in the May 29th issue of FORTUNE® magazine.

The companies were selected through an extensive application process covering 18 criteria, including revenue growth, number of employees, the skills and training of their workforce, the number of technical and business certifications they have secured, the track record of the management team, and their quality of customer service.

With its strong presence in both the US and EU, geo-diverse software development and delivery centers (in Russia, Hungary, Belarus and Ukraine), exceptional expertise in a number of verticals and dynamic growth EPAM becomes a proud member of "The Top Offshoring Providers" list. "The International Association of Outsourcing Professionals is pleased to recognize EPAM Systems as one of the world's top outsourcing service providers for 2006," – noted Michael F. Corbett, Executive Director, IAOP.

Arkadiy Dobkin, EPAM CEO and President, said: "In January 2006 EPAM was named the No.1 IT outsourcing company of "Top 5 To Watch in Central and Eastern Europe" and included into the global "Top 10 Specialty Application Development Leaders" by CMP-CyberMedia and neoIT. The prestigious award from the International Association of Outsourcing Professionals extends the industry recognition of EPAM's excellence in software engineering. We are very pleased to receive this award and will continue to deliver value and integrity to our clients worldwide".

About IAOP

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

This year the team competed with 5,606 international teams that represented 1,737 universities from 84 countries. In the ACM World Finals, 83 teams vied to become the world programming Champion.

The Saratov programming team members - Igor Koulkin, Roman Alexeenkov and Ivan Romanov are programming contest veterans with an admirable track record of participating in a host of school and college programming competitions, including the Russian Open Programming Championship sessions in 2005 and 2006.

"EPAM Systems, which maintains a Development Center in Saratov, chose to sponsor the Saratov State University team to help develop the undeniably high potential of the Russian software engineers. We are confident that Russian programmers have all the makings to achieve leadership in the complex software application development segment. The victory of the Saratov programming team in such a prestigious contest is a further testament to the untapped Russian programming savvy", said Serguei Laletine, EPAM Saratov Development Center Director.

"This is the second gold medal awarded to a programming team sponsored by EPAM. In 2004, the award was captured by the team of the Belarussian State University of which EPAM has been a partner for several years now. We are very proud of the Saratov team," remarks Arkadiy Dobkin, EPAM CEO and President. "This win is another example of the extraordinary skills available in Eastern Europe and Russia. It is this talent that has propelled the region and more specifically, EPAM, into one of the leading destinations for software development outsourcing".

About ACM

ACM is widely recognized as the premier organization for computing professionals, delivering resources that advance the computing and IT disciplines, enable professional development, and promote policies and research that benefit society. ACM hosts the computing industry's leading Digital Library and Guide to Computing Literature, and serves its 80,000 global members and the computing profession with journals and magazines, conferences, workshops, electronic forums, and its Career Resource Center and Professional Development Center.

http://www.acm.org

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

http://www.epam.com

EPAM Systems, which in January 2006 was, for the second consecutive year, recognized as #1 of "Top 5 To Watch in Central and Eastern Europe" by the Global Services Magazine in conjunction with neoIT, regards the establishment of this new office as an evolutionary step developing the key European markets. EPAM has been doing a significant amount of business with German clients since 1997. Last year 17% of its revenue was from German companies. According to Karl Robb, EPAM Executive VP for Global Operations, Germany plays a crucial role in EPAM's growth.

"Although we already have a larger than average number of German speaking project managers and architects in Budapest and Minsk, we see a clear need for a permanent local team to intensify our activities on the German market. We have been extremely fortunate to bring on board two key managers from the Telco and Financial Services sectors with a collective 32 years of practice in software engineering and software product development and hands-on experience in Nearshore and Offshore outsourcing," said Karl Robb.

"Having used software development service providers at different Off- and Nearshore locations in a number of sizeable software projects for many years I am convinced that the acceleration in this area is finally picking up momentum in Germany. Besides the already experienced big corporations more and more mid-size companies are catching up trying to use the advantages of the flexible, high-quality and cost-effective Nearshore software development. The proximity and the cultural compatibility give Nearshore a clear advantage over Offshore, especially in incremental, iterative projects, which are more common these days," said Dr. Stephan Kruppa, General Manager of the newly established German office of EPAM Systems.

"My choice to join EPAM for this exciting opportunity was influenced heavily by the fact that I had an excellent outsourcing experience with over 16,000 person days in a number of development and support contracts to EPAM with very good results. Besides the reliable schedules, high quality, and solid knowledge about methodologies I am specifically impressed by EPAM's flexible software engineers who understand our way of thinking and filled the unavoidable specification gaps intelligently. EPAM Germany will further improve the client communication and eliminate the risk of different expectations with a well-structured requirements analysis and on-site project support," added Dr. Kruppa.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

http://www.epam.com

You can find the article about EPAM from the Global Services Magazine if you follow this link: http://www.globalservicesmedia.com/showArticle.jhtml?articleID=177102584

For further information contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Lawrenceville, NJ -- (ReleaseWire) -- 05/15/2006 -- EPAM Systems (www.epam.com) is proud to announce its selection to the International Association of Outsourcing Professionals' (IAOP) first-ever listing of the world's top 100 outsourcing service providers – "The Global Outsourcing 100". EPAM is listed in the category of "Top Offshoring Providers" - a distinction given to a subset of the Global 100, comprised of the world's 30 foremost providers of offshore services to US based enterprises. The sublisting will appear in the May 29th issue of FORTUNE® magazine.

The companies were selected through an extensive application process covering 18 criteria, including revenue growth, number of employees, the skills and training of their workforce, the number of technical and business certifications they have secured, the track record of the management team, and their quality of customer service.

With its strong presence in both the US and EU, geo-diverse software development and delivery centers (in Russia, Hungary, Belarus and Ukraine), exceptional expertise in a number of verticals and dynamic growth EPAM becomes a proud member of "The Top Offshoring Providers" list. "The International Association of Outsourcing Professionals is pleased to recognize EPAM Systems as one of the world's top outsourcing service providers for 2006," – noted Michael F. Corbett, Executive Director, IAOP.

Arkadiy Dobkin, EPAM CEO and President, said: "In January 2006 EPAM was named the No.1 IT outsourcing company of "Top 5 To Watch in Central and Eastern Europe" and included into the global "Top 10 Specialty Application Development Leaders" by CMP-CyberMedia and neoIT. The prestigious award from the International Association of Outsourcing Professionals extends the industry recognition of EPAM's excellence in software engineering. We are very pleased to receive this award and will continue to deliver value and integrity to our clients worldwide".

About IAOP

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Lawrenceville, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

This year the team competed with 5,606 international teams that represented 1,737 universities from 84 countries. In the ACM World Finals, 83 teams vied to become the world programming Champion.

The Saratov programming team members - Igor Koulkin, Roman Alexeenkov and Ivan Romanov are programming contest veterans with an admirable track record of participating in a host of school and college programming competitions, including the Russian Open Programming Championship sessions in 2005 and 2006.

"EPAM Systems, which maintains a Development Center in Saratov, chose to sponsor the Saratov State University team to help develop the undeniably high potential of the Russian software engineers. We are confident that Russian programmers have all the makings to achieve leadership in the complex software application development segment. The victory of the Saratov programming team in such a prestigious contest is a further testament to the untapped Russian programming savvy", said Serguei Laletine, EPAM Saratov Development Center Director.

"This is the second gold medal awarded to a programming team sponsored by EPAM. In 2004, the award was captured by the team of the Belarussian State University of which EPAM has been a partner for several years now. We are very proud of the Saratov team," remarks Arkadiy Dobkin, EPAM CEO and President. "This win is another example of the extraordinary skills available in Eastern Europe and Russia. It is this talent that has propelled the region and more specifically, EPAM, into one of the leading destinations for software development outsourcing".

About ACM

ACM is widely recognized as the premier organization for computing professionals, delivering resources that advance the computing and IT disciplines, enable professional development, and promote policies and research that benefit society. ACM hosts the computing industry's leading Digital Library and Guide to Computing Literature, and serves its 80,000 global members and the computing profession with journals and magazines, conferences, workshops, electronic forums, and its Career Resource Center and Professional Development Center.

http://www.acm.org

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

http://www.epam.com

EPAM Systems, which in January 2006 was, for the second consecutive year, recognized as #1 of "Top 5 To Watch in Central and Eastern Europe" by the Global Services Magazine in conjunction with neoIT, regards the establishment of this new office as an evolutionary step developing the key European markets. EPAM has been doing a significant amount of business with German clients since 1997. Last year 17% of its revenue was from German companies. According to Karl Robb, EPAM Executive VP for Global Operations, Germany plays a crucial role in EPAM's growth.

"Although we already have a larger than average number of German speaking project managers and architects in Budapest and Minsk, we see a clear need for a permanent local team to intensify our activities on the German market. We have been extremely fortunate to bring on board two key managers from the Telco and Financial Services sectors with a collective 32 years of practice in software engineering and software product development and hands-on experience in Nearshore and Offshore outsourcing," said Karl Robb.

"Having used software development service providers at different Off- and Nearshore locations in a number of sizeable software projects for many years I am convinced that the acceleration in this area is finally picking up momentum in Germany. Besides the already experienced big corporations more and more mid-size companies are catching up trying to use the advantages of the flexible, high-quality and cost-effective Nearshore software development. The proximity and the cultural compatibility give Nearshore a clear advantage over Offshore, especially in incremental, iterative projects, which are more common these days," said Dr. Stephan Kruppa, General Manager of the newly established German office of EPAM Systems.

"My choice to join EPAM for this exciting opportunity was influenced heavily by the fact that I had an excellent outsourcing experience with over 16,000 person days in a number of development and support contracts to EPAM with very good results. Besides the reliable schedules, high quality, and solid knowledge about methodologies I am specifically impressed by EPAM's flexible software engineers who understand our way of thinking and filled the unavoidable specification gaps intelligently. EPAM Germany will further improve the client communication and eliminate the risk of different expectations with a well-structured requirements analysis and on-site project support," added Dr. Kruppa.

About EPAM Systems

EPAM Systems is a global provider of software engineering outsourcing services. In January 2006, for the second consecutive year, EPAM was named No.1 of "Top 5 to Watch in Central and Eastern Europe" on the "Global Services 100" list by CMP-CyberMedia's Global Services Magazine and neoIT. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, Hungary as well as support and delivery operations in UK and Germany. EPAM software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Empire and CareFirst BlueCross BlueShields, Schlumberger and Halliburton and technology leaders such as SAP, Hyperion, BEA Systems and Microsoft.

http://www.epam.com

You can find the article about EPAM from the Global Services Magazine if you follow this link: http://www.globalservicesmedia.com/showArticle.jhtml?articleID=177102584

For further information contact: press@epam.com

Conducted by CMP-CyberMedia's Global Services Magazine in collaboration with neoIT, the in-depth study has yielded over 250 data points that were further clustered into four categories including general company information, client data, operational capabilities and human-resource policies. Respondents to the survey included firms from 15 countries around the world, representing the most popular service-delivery destinations. The winners were selected in 10 categories based upon the strengths of the information provided and the feedback returned by the customers and industry analysts.

In the Global Services Magazine's cover story "Meet the 2006 Global Services 100"(http://www.globalservicesmedia.com/sections/features/showArticle.jhtml;jsessionid=XVTPCGNFZ4V3SQSNDBGCKHSCJUMEKJVN?articleID=177102520) Rusty Weston, Editor-in-Chief, commented: "We looked at a combination of factors including size, profitability, a multishore presence, demonstrated capabilities and staff training or certifications. Each of these areas is essential for a world-class service provider, but what distinguishes Global Services 100 companies is their ability to effectively integrate and combine these capabilities to create value for their clients and stakeholders".

Arkadiy Dobkin, EPAM CEO, said: "During the last several years the visibility of Eastern Europe increased significantly on the global outsourcing map. We are glad to see that EPAM's ability to differentiate itself by delivering to our clients a consistent level of excellence in software engineering was recognized by ranking us as the overall No. 1 company in this region, and also as one of the top 10 worldwide leaders in the specific category of application development. Achieving both rankings for the second year in the row is a testament to the mature underlying processes, strong culture and clear focus EPAM is demonstrating over the years while experiencing significant growth and increasing competitiveness. We are very proud that we achieved scalability and maintained our clients' expectations of value and quality".

About CMP-CyberMedia LLC

CMP-CyberMedia LLC is a joint venture between CMP Media in the U.S.A. and CyberMedia in India.

http://www.cmp.com

http://www.cybermedia.co.in

About neoIT

neoIT is a management consulting firm that helps leading corporations improve and grow their business by capitalizing on services globalization.

http://www.neoIT.com

About EPAM Systems

EPAM Systems is a leading provider of software engineering outsourcing services. Founded in 1993, EPAM maintains North American headquarters in Princeton, NJ and European headquarters in Budapest, as well as support and delivery operations in UK and Germany. EPAM's software development centers are located in Russia, Belarus, Ukraine and Hungary.

EPAM's customer base includes industry leaders such as Reuters, London Stock Exchange, Colgate-Palmolive, British Telecom, Schlumberger, Empire and CareFirst BlueCross BlueShields, Halliburton and technology leaders such as SAP, Microsoft, BEA Systems and Hyperion.

http://www.epam.com

For further information, please contact: press@epam.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm